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Upgrading Quicken 2007 for new iMac

I'm going to be buying a new iMac. Currently I'm running Quicken 2007 on my old iMac, running High Sierra. I know Q2007 won't work on the new Mac and I'll need to migrate to a new, subscription based Quicken. I use Quicken for my banking (checking acct.) and to track my stocks in multiple Fidelity accounts. How easy/hard should I expect the migration to be? And, which Quicken product will do the job for me. I don't want to go to Premium if Basic will do. Thanks for any help.

Answers

  • Quicken_Tyka
    Quicken_Tyka Moderator mod
    Hello @debax

    Thank you for taking the time to visit the Community to ask your question, although I apologize that you haven't received a response.

    To track investments, you will need at the least Deluxe version, the Starter version does not support investments. To learn more please see the link below.

    https://www.quicken.com/mac/compare

    As for information on converting from a 2007 file, please see the information available here. You may also locate specific user experiences with converting by searching the Community.

    I hope this helps!

    -Quicken Tyka

    ~~~***~~~
  • Donald E. Kaye
    Donald E. Kaye Member ✭✭✭
    I had been using Quicken 2007 since 2000, but hadn't upgraded because the Report Generator was not up to doing the Reports I needed. I had been keeping my fingers crossed that I would be able to download transactions from my financial institutions indefinitely. That abruptly stopped at the beginning of June 2020. I have 5 quicken accounts with numerous downloads required. The time had come to upgrade.

    With trepidation I did the conversion of my main personal file with over 23,000 transactions (Quicken 2020 told me the number). The conversion took about 3 minutes. At the conclusion, when I compared the balances against those in Quicken 2007, they were perfect.

    Quicken has done a lot of work on their Reports Generator over the past 6 months. I can get all the Reports I need and some new ones that were difficult to create in Quicken 2007. They aren't as well separated by function as 2007, however. Hopefully, that will be addressed in future updates.

    Quicken 2020 is a MUCH more sophisticated program than 2007. Had I known the depth of the program, I would have converted earlier. One example is that in one fell swoop you can download transactions from all your financial institutions. Most are direct connect. That wasn't possible in Quicken 2007. I used to spend a lot of time first downloading from the institution and then having to import into Quicken. Another is a more comprehensive amortized loan capability. You can do what-if scenarios and view in graph form interest and principal over the term of the loan.

    The one exception to the "more sophisticated" program is the simplistic Reconcile function. I hope in the future that will be expanded to allow for previous reconciliations as was available in Quicken 2007.

    If you want to get the most out of Quicken 2020 expect to spend some time learning it. From my experience the learning curve is steep, but well worth the effort. While there is no PDF manual, most topics are well covered in the HELP menu. As noted by some of the questions asked to the Community, a lot of people don't take the time to find their answer there. In fact I just answered my first question a few days ago. I had remembered the answer from reading it in the HELP section.

    Without question the Premier version should be subscribed too. The increase in cost is a pittance compared to the increase in value. In addition to extra program features, the most important feature in my opinion is the ability to get Premier tech Support immediately. I have called in numerous times with questions, and each time the tech took whatever time was necessary to answer my question. Quicken has an excellent Screen Share capability. They are GOOD! Oftentimes I wanted to show them what I was after by showing them how it was in Quicken 2007. Armed with that information they were able to show me how to get what I wanted.

    Quicken over the past 20 years has made quantifying my financial life so much easier. Instead of needing an Accountant to help with its complexity, I am able to keep it "private" and understandable. Quicken 2020 with its continual updates expanded on that capability.
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