Converting From Windows to Mac - Savings Goal work around

Miss E

Okay SuperUsers ... please let me know if I am missing something ...

After decades of using Quicken and keeping a Windows computer strictly for Quicken for the Savings Goals feature which I LOVE ... I recently switched to Quicken for Mac, and thought I would end up running dual for a while. Mac as we know does not include the Savings Goals feature. (I LOVE my MAC!!)

Being stubborn as I am I wanted to see if I could come up with something SIMPLE to use in place of my beloved Savings Goals - over 20 of them. Following is what I did and am wondering if something is going to 'catch' me as I continuing finding all the Quicken differences on the Mac ... seems to be working, however, I'd appreciate other 'eyes on this' to verify.

- Saved Windows Quicken file to USB thumb drive
- on the Mac converted the Windows Quicken file
- All Savings Goals came into Quicken for Mac as a Property asset
- In the Property asset, I transferred the money to the account where the money really resided. In this case a Savings Account.
- In the Savings Account I created a future transaction with a far unrealistic date of 12/31/2099 with an * as the end of the Payee.
Ex: I am preparing to move out of state and have been saving for the move. I have a savings goal named Move. Transaction is now 12/31/2099 with the payee Move * (the same amount that was in the savings goal / now Property asset).
YES I realize the transactions show in the register all the time; however I could see it in the Accounts on the left anyway. It will not show up when I reconcile because the date is totally out of range in the future.
OR I could create the transaction with a date of 1/1/1099 and then I won't see it in the register; however I would see it at the top of each reconcile details box. Then I simply leave it unchecked during the reconcile.
I figure either way will work and the date showing 99 is also an indication it is a faux savings goal in addition to the *.

Am I missing something? Will this 'bite me' in a way I have not yet experienced in the Quicken Mac version?

Just trying to keep it simple and yet still have the same hiding money concept.

Thank you

Chris_QPW

It is interesting that the transaction in doesn't appear in the register if you have a date of 1/1/1099.  I wouldn't count on that behavior though.  No telling if it would ever change.  If you tried the same in Quicken Windows it would just reject that date as it being illegal.  1/1/2099 on the other hand is fine.

Miss E

Thank you for the response Chris.
Yes, I, too was surprised Quicken for Mac allowed me to enter the data 1/1/1099 at all as Quicken for Windows did not.

... Just to be clear, 1/1/1099 does show in the register although is so far back that I have to scroll and scroll to see depending on the view. It has to be all dates or custom date or status uncleared to see the transaction.
Thus hiding it which is the point of having a faux savings goal.
Just trying to keep it simple and yet have my beloved savings goals.

Chris_QPW

Oh, if it actually shows in the register, just way back then it is fine to use.  I misunderstood what you were saying.  Quicken Mac is going to have far larger valid date range than Quicken Windows does, so in fact 1/1/1099 is legal, I just didn't know where the cutoff is in Quicken Mac.

Miss E

🤪Goofy me for not explaining better the first time. Hoping it works because I LOVE my savings goals and I love working on Mac rather than Windows.

Thanks again! 🙏🏻😀

Bourbon

@Miss E
I’m curious about your approach as I am trying to resolve an issue in how to properly use Quicken for my use.
I transfer money from my Bank checking account to my Bank savings account to manage many goals, so I use one single savings bank account to do this. I’m puzzled by blog on Windows to Mac transfer which leads to a question. In Windows you mentioned having some 20 saving goals. Now, back in Mac, did you create “one” single “Quicken Account” per goal, or “one per goal”? And how do you reconcile with only one single “Bank” account? How does that work? Thank you

Miss E

Hi Burbon.
Yes, I have ~20 savings goals. In WINDOWS each savings goal is a separate account which shows under the Savings Goal icon as well as under a Savings Goal Account on the left side account list which is in the same area just beneath the Property & Debt. No changes made in the Windows Quicken prior to transferring to Mac. (Windows Quicken Premier Version R38.30 - making sure it was updated)

Then I followed the directions to Convert FROM Windows TO Mac
https://www.quicken.com/support/converting-quicken-windows-quicken-mac-2016
Everything worked exactly as stated. Windows file must be converted to MAC.
When I opened the Quicken Mac ALL of my Savings Goals came into Quicken for MAC as separate - and exact same - Property accounts under Property & Debts on the left side account lists. All well and good.
For example I have a savings goal for my next new car. It transferred over as a property account with the same name and amount as the same goal into Mac as Property Account. I have another savings goal for vacations. It, too, came over as its own property account in the Mac. Both are in a savings account with American Express.

Next - to easily reconcile in MAC - I went to the specific Property Asset account New Car. I then created a TXFR (transfer) transaction and transferred the money FROM this property asset account to the American Express Savings account since that is where the money actually is.

Next - in the American Express Savings account - which now shows the money I have saved for my next New Car - to 'hide' the money - I created a new transaction with the date 01/01/1099, the Payee is New Car * and the exact same amount as a Withdrawal.
Since the register by default sorts by date all these transactions now show are the very bottom so I have to scroll down to the bottom to see them.

As I add money to this new 'faux savings goal' I can do one of two options
1) add a new transaction line with a date of (say today's date is Feb 23) 2/23-1099 ... again making sure the date year is the same old faux date ... and the payee = New Car Contribution towards goal * and the amount
OR
2) simply add the amount to the one transaction that is already there 01/01/1099 Payee New Car *

Reconciling is then simple because the date range is not within the range for reconciling for the month.
The first time reconciling you will see the entries with the words contribution towards or withdrawal and you simply clear those. Same as you will need to do if you add a new transaction every time in step 1 above (which is why I use step 2 above) so I don't see the transaction, but that's just me. If you want to see each contribution or withdrawal they will need a one line transaction the same as they appear in Windows - only be sure to put an * for ease of clearing them when reconciling or simply clear anything with the payee contribution or withdrawal towards goal.

Two key indications are then always there for me that the transaction is faux - the * as the end of the Payee and because the day is year ending 1099.

Again this is in the Mac version. Windows will not allow a year ending older than somewhere around mid 1980's.

Hope this helps. Let me know if you have further questions.