Quicken Mac v6.8 has been released!

Quicken Victoria

In this release, we've added some new features and made several improvements throughout the product.

Reports

• New – Easy Answer report. Quickly generate focused reports to help answer some of the top questions and get valuable information about the state of your finances. *Requires macOS 10.15 or later.   

• Improved – We now display totals at the bottom of the screen and on printed reports that are more aligned with standard accounting practices.

• New - Foreign Bank Accounts Report (FBAR). Easily calculate the maximum balance of your foreign bank account balances within a calendar year. It will significantly help you with your taxes. [*Requires Quicken Premier or above]   

Learning Center

New – Learning Center – for the users who are new to Quicken Mac. 
Quickly learn the basics, must-know Quicken concepts, and how to apply them to manage your financials. This content is always available, and you can bring it back and review it any time. 

Investments Improvements

• Asset Classes in Portfolio.   We changed the way securities with multiple asset classes are displayed. Securities with multiple asset classes will display within each relevant asset class alongside a new percentage label that indicates the proportion of the security that falls within that asset class.  

•  See the latest market data.   When looking at your Portfolio while markets are closed, Quicken will automatically show the price change data from the last trading day. It will then automatically advance when markets reopen.

• Mutual fund price callout.   Mutual fund prices update after markets close. When Quicken identifies a mutual fund, an info icon appears next to the price when the latest price displayed is not from the most recent trading day.  

• Cash in Security.   When the funds include "Cash" as one of the asset classes in a mixture, Quicken now differentiates it by naming the asset class "Cash in Security." Renaming the asset class helps to distinguish between cash as an asset and the actual cash in your account. 

If you experience any issues with this release, please share your feedback in this post. The Quicken Mac Dev team will be monitoring this post directly.

Thank you!
-The Quicken Mac product team

Rick2022

@Quicken_Victoria

I just opened Quicken and it didn't ask me to update.  I did the "Check for Updates" and it said I was up to date with 6.7.1.  Is this really a full release or is it being rolled out?

tcburke3

i have 3 accounts at Schwab with a money market that has worked fine until this update. WTF did you do? it now lists it as "cash in security", but will not consider it "cash" when reconciling against Schwab. in other words, the online balance reads the money market as "cash" but does not read it as cash for reconciling. i have $216 in cash plus $5000 in the money market which comes to $5216 as Quicken reads it from Schwab, but only $216 in cash in my Quicken register. this is reckless and sloppy, why did you push an update on a holiday weekend that could have such potential issues, and why was it even done in the first place? FIX IT.

and BTW i don't want to take out the transactions and see it just as cash, i need to know how much is in that money market separately. this all worked fine until this stupid update.

jacobs

I'm trying to understand what you're seeing and what your objection is. In the Portfolio, does Quicken show $5,000 in the money market fund and $216 in Cash when you set the filter to view by Security? "Cash in Security" should show up when filtered by Asset Class, but not when viewed by Security.

In the transaction register, you're seeing only the cash is showing up as the balance? And that amount can be reconciled. You said you want to keep the money market separate from cash; is it not doing that for you in the transaction register?

Jon

What kind of accounts are these? I have several brokerage accounts; as best as I can recall, the register cash balances (and reconciliation balances) have never included money market funds, they have only shown the uninvested cash. In other words, this does not sound to me like new behavior.

jacobs said:

"Cash in Security" should show up when filtered by Asset Class, but not when viewed by Security.

Even when sorted by Security, the Cash line only includes uninvested cash - the money market fund investments appear separately under their own security symbols.

tcburke3

quicken is now seeing the money market from Schwab as part of Schwab's Cash balance. so Quicken in the register says my cash is $236, but in their reconciliation page, their seeing cash as $5236 in Schwab's online balance. in my portfolio, it is indeed "cash in security". before this update, Quicken did not see this security as part of cash on Schwab's side. my objection is that this issue was foreseeable, sloppy in execution, and with the potential to cause problems, wrong that it was pushed out over the holiday weekend. And it's not like Schwab is a small player.

glennmacc

I have a couple of comments that I see in 6.8.0.  First, I am happy that we are edging closer to accurate breakdowns of asset classes in Mutual Funds, etc.  But...here are two issues that I am disappointed in and/or confused by.

1.  Disappointed:  There does not seems to be a way to see the asset classes of any one mutual fund.  I'd like to look at a fund and see that it is 40% large cap 20% small cap, or whatever (I'd actually like to see a full "x-ray" of the fund to see the actual securities - I know you can see the top 10 in the "security overview" about a fund; still, I'd prefer it be in the app itself and reportable) but this does not seem possible.  When you click on a security when looking at your portfolio by asset class (where you might expect a breakdown of the securities in that mutual fund), you simply have the choice of "security overview".  

2.  Confused:  In the "performance" report, if you view by asset class, the dreaded "asset mixture" still occupies the great majority of the breakdown.  It is as if this report did not get the word that asset mixture was out and the specific asset classes were in in 6.8.  See the attached image.  Though you cannot see it, "asset mixture" was 100% of this portfolio.  Actual Stocks and Bonds are listed correctly, but not mutual funds.

Thoughts?

Rick2022

Can you drill down if you click on the > to the left of Asset Mixture?

glennmacc

No, just more asset mixtures.

Jon

glennmacc said:

There does not seems to be a way to see the asset classes of any one mutual fund. 

If you click on the security in the Portfolio view, select Edit Security, and then click on View Asset Mixture,  you can see the mix for that security.

You can also double click on the security in the Securities window and click on the View Asset Mixture button. 

glennmacc

Jon said:

glennmacc said:

There does not seems to be a way to see the asset classes of any one mutual fund. 

If you click on the security in the Portfolio view, select Edit Security, and then click on View Asset Mixture,  you can see the mix for that security.

You can also double click on the security in the Securities window and click on the View Asset Mixture button. 

Nice.  Non-intuitive but great to know about.  Thank you for the help.

Glenn

jlgg

I have an issue in the 6.8.0 update.  When viewing my portfolio in the "By Asset Class" window, I have two securities that are not properly applying the scaling percentage.  The first screen shot shows the security XLV under "Small Cap Stock" with a scaling percentage of 11.9%.  This % should be applied to the columns such as shares and market value as described in the second screen shot. As you can see the scaling is not being applied. The second screen shot shows my total holdings for this security

In the dashboard view "Asset Allocation" this is calculated correctly for this security, and in the portfolio view it is also calculated correctly under "Large Cap Stock".

This of course greatly increases the market value totals in the portfolio "By Asset Class" window.  

jacobs

@jlgg I think this is intentional, and makes sense… depending how you are interpreting it. The pop-up box is showing the entire value of your holding in that security, and is telling you 11.9% of that is small cap stocks, so that only 11.9% of your total holding in that security are shown in the table view. The table view is correctly scaling by asset class. Your issue is that the pop-up box is not.

If the pop-up box showed the scaled values, it would show the exact same data that's in the table. What use would that be? Instead, the pop-up box gives you a quick way to see your total holding in that security. Otherwise, you'd need to change the filter from By Asset Class to By Security to look at that holding, then switch back to look at another security, etc. So I think the way it's implemented is useful and works correctly. 

tcburke3

@Quicken_Victoria can you please comment on the inability to reconcile the new "cash in security" money market funds to Schwab? are you aware of the problem? are you working on it? Quicken is reading it from Schwab as part of Cash, but is recording it in it's register as a security. it cannot be reconciled without removing it as a security. but if that happens, then i won't know which is my actual cash vs. the money market fund. it's bad enough that it's such a glaring error, but i've heard nothing from anyone that can help. PLEASE FIX THIS.

jlgg

@jacobs Thanks for your response.

My issue is that this particular security is the only one behaving this way.  I'll attach a screen shot showing a little more of the small cap table and you can see that XLV is the only security not applying the scaling. 

I'll also attach the pop-up box for FINX so you can see that is being scaled correctly. The FINX row correctly applies the 32.1% scaling value in the table to show 231.77 shares. All the pop-up boxes show the entire value. Only the table shows the scalings, and in my case only XLV does not.  also   This inflates the last column "Market Value" for XLV as well as the "Totals" value which I have not shown.

As I said, I have a large number of securities and only 2 are not scaling properly.

jlgg

@jacobs

I should have added that 372 shares of XLV is my entire holding.  If scaled correctly by 11.9%, the share total in the table should be 44.27 and the Market Value should be $5410.43 

Thanks

jacobs

@jlgg Ah, now I see what you're reporting for the Health Care Select holding: it's not scaling shares or cost basis at all, and the market value is scaled, but incorrectly (11.9% of $45,465.84 should be $5,410.43 — and it's showing $866.76, which is 1.9% of the total.)

I'll have to take a look and do the math on more of my holdings to see if I have any examples like this. 

jlgg

@jacobs

When viewing the portfolio in the "By Asset Class Window" the Market Value Total should be close to the actual portfolio value.  Rounding errors produce some small differences.  This makes it easy to see if something is amiss.  In my case that number is greatly inflated by the two problem securities, but if I adjust those two, the total agrees.  By the way, this all works correctly in Dashboard which is basically the same scaling calculation.

jacobs

tcburke3 said:

@Quicken_Victoria can you please comment on the inability to reconcile the new "cash in security" money market funds to Schwab? are you aware of the problem? are you working on it? Quicken is reading it from Schwab as part of Cash, but is recording it in it's register as a security. it cannot be reconciled without removing it as a security. but if that happens, then i won't know which is my actual cash vs. the money market fund. it's bad enough that it's such a glaring error, but i've heard nothing from anyone that can help. PLEASE FIX THIS.

I'm not Quicken Victoria, but I can offer a comment. "Cash in Security" is only supposed to represent the underlying cash holdings of and of you securities. So if you have $10,000 of XYZ Fund with 70% in large cap stocks, 25% in small cap stocks, and 5% in cash, the "Cash in Security" value would be $500. There is noting to reconcile, because Cash in Security isn't a real holding which can be reconciled; it's the calculated value of the percentage of cash help by a security.

A money market fund should be a separate security, not cash. For instance, my Vanguard Cash Reserves Money Market Fund has underlying holdings of 75% cash and 25% domestic bonds. So only 75% of my money market holding is reported as "Cash in Security" when I look at asset allocation, even though we ted to think of money market funds as a cash equivalent. I can't "reconcile" my money market fund, because it's a security, not cash; I can visually verify that my share holding in Quicken matches Vanguard exactly, but I can't use Quicken's Reconcile, which is only for cash. That all said, I think some brokerages are reporting their money market holdings as cash instead of as shares in a security, so that may be what you're seeing with Schwab here. (I don't have any Schwab accounts, so I can't see this myself.)

tcburke3

thanks, but i doubt that Schwab started reporting their money market holdings as cash at the exact same time as this latest update. the update has screwed something up in how it reads money market securities (for Schwab at least). i guess i'll have to go to support since no one from Quicken can even chime in on this thread after saying "please share your feedback in this post" 😠

jacobs

@tcburke3 Actually, the change in Schwab money market accounts in Quicken was made several months ago. Take a look at this Quicken announcement from February for an explanation about the Schwab money market change. There is also this discussion about this which might shed additional light on the issue. 

tcburke3

i remember having to deactivate and reactivate all my Schwab accounts at that time, yet despite reconciling every day, this problem did not show up until this newest release. I guess i should consider myself lucky that it only showed up until now. Many thanks for pointing this out, but it doesn't help as Quicken is basically saying "sorry folks". it's a fund. if i go to purchase a security i need to sell from this fund, Schwab isn't going to automatically draw from it. so for Quicken to say "it's technically cash" is flat out false and irresponsible.

lhossus

The new Investments feature that adjusts the “Data as of <date>” value in Portfolio view according to whether the markets are open or not does not work as intended — although it does seem to work as designed.

It is currently Wed morning before markets are open. AND, no security prices have yet been downloaded for yesterday because I do my daily Update All Online Accounts in the morning before the markets open. 

As designed, the “Data as of” is set to 6/21/2022. But no Price Day Change or Day Gain / Loss is displayed: these columns are full of zeros and N/A entries.

To be effective, the Date as of needs to be adjusted not for whether the markets are open or closed, but for the most recent day for which there are security prices available for performing the Change and Gain calculations.

jacobs

@lhossus I understand your explanation, which I think is on the money. My only question is: if you know you haven't downloaded prices from the previous trading day, why would it bother you to see it show zeros and N/A? It's telling you that it doesn't yet have prices from the most recent trading day. If you forgot, it's alerting you to click to update prices; if it's intentional, you can update prices now or switch to a prior day if you want.

Conversely, I don't think it would be useful to show the daily activity for whatever date was last downloaded. Think about people who might update prices weekly, or irregularly. If someone launched Quicken this morning and hasn't downloaded prices since last Tuesday, showing the gains/losses for a week ago Monday isn't likely to be useful. And if this happened just before markets opened, the user might not discern that they're looking at performance from a week ago Monday rather than today, unless they know to look closely to check the updated date. 

staceyka

Downloaded Quicken 6.8 yesterday and I see a "Learning Center" in the Release Notes but can't find it. Where is it buried? I can't find the Learning Center and I can't find the EasyAnswer Reports that is 'new' with this release.
TIA

Shing

staceyka said:

Downloaded Quicken 6.8 yesterday and I see a "Learning Center" in the Release Notes but can't find it. Where is it buried? I can't find the Learning Center and I can't find the EasyAnswer Reports that is 'new' with this release.
TIA

Click the "Home" tab at the top center of the QMAC window to see the Learning Center. Click the "Reports" tab at the top center of the QMAC window to see the main reports screen. The EasyAnswer link is on the left side with all the other report options. 

staceyka

Thank you!!!

Quicken Eli

jlgg said:

I have an issue in the 6.8.0 update.  When viewing my portfolio in the "By Asset Class" window, I have two securities that are not properly applying the scaling percentage.  The first screen shot shows the security XLV under "Small Cap Stock" with a scaling percentage of 11.9%.  This % should be applied to the columns such as shares and market value as described in the second screen shot. As you can see the scaling is not being applied. The second screen shot shows my total holdings for this security

In the dashboard view "Asset Allocation" this is calculated correctly for this security, and in the portfolio view it is also calculated correctly under "Large Cap Stock".

This of course greatly increases the market value totals in the portfolio "By Asset Class" window.  

jlgg - thanks for your report.  Based on this we were able to identify an issue that affected some, but not all, securities.  This has been fixed and released on 6/24 as part of 6.8.1.  Please make sure that you are on the latest version and try it again.  It should be accurate now.

jlgg

@Quicken Eli:

 I have updated to 6.8.1 and that corrected my problem.  I was very pleased with how quickly this was addressed.  Thanks to everyone.

jlgg

I have run across two new features in 6.8 that were not mentioned in the release notes.

1) Register text and row settings are now applied to portfolio view 
2) "% of total" is now available as a column in portfolio view

These were both requested features. Glad to see them included in the update.  If anyone has found other undocumented improvements in this update, I would welcome hearing about them

Quicken Eli

glennmacc said:

I have a couple of comments that I see in 6.8.0.  First, I am happy that we are edging closer to accurate breakdowns of asset classes in Mutual Funds, etc.  But...here are two issues that I am disappointed in and/or confused by.

1.  Disappointed:  There does not seems to be a way to see the asset classes of any one mutual fund.  I'd like to look at a fund and see that it is 40% large cap 20% small cap, or whatever (I'd actually like to see a full "x-ray" of the fund to see the actual securities - I know you can see the top 10 in the "security overview" about a fund; still, I'd prefer it be in the app itself and reportable) but this does not seem possible.  When you click on a security when looking at your portfolio by asset class (where you might expect a breakdown of the securities in that mutual fund), you simply have the choice of "security overview".  

2.  Confused:  In the "performance" report, if you view by asset class, the dreaded "asset mixture" still occupies the great majority of the breakdown.  It is as if this report did not get the word that asset mixture was out and the specific asset classes were in in 6.8.  See the attached image.  Though you cannot see it, "asset mixture" was 100% of this portfolio.  Actual Stocks and Bonds are listed correctly, but not mutual funds.

Thoughts?

glennmacc - Thanks for your comments.  And thanks to @Jon for pointing out the workaround for comment #1.  As for comment #2, I can shed some light there.  We actually spent quite a bit of time internally discussing how to show performance of these mixed asset securities.  It is not as simple as it might first appear!

Consider the case where you have a mutual fund that is 50% large stock and 50% international.  Let's say that at the beginning of some time period, it is worth $1000, and at the end it is worth $2000.  Quicken knows the performance of the overall fund - it grew by 100%.  But Quicken does not know how much of that growth was due to the large stock component and how much is due to the international component.  Indeed, one of them might have been much larger than 100% and the other one might have been flat or even negative.  There is just no way to accurately determine that.

So rather than arbitrarily assume that they both grew equally at 100% (which really would not provide any insight into your investments), we decided to just show the data as we always have, accurately, as a mixed asset.

By the way, the same reasoning applies to the third view - Realized Gains.  If you were to sell that mutual fund at $2000 and realize $1000 in gains, Quicken would not know how much of the realized gain came from the component asset classes.