Quicken Classic on Windows NEVER updates my accounts correctly - why?

Benton2955

I have had quicken for about a year now - used it to transition from Mint.

I like how robust it is - but from the probably 50 times I've opened the program, I don't think it has EVER aligned with what my bank accounts are actually telling me - then I go through ever single transaction making sure its all correct and then its still off. The WebConnect auto update sucks, is this going to get better? I even got Quicken Simplifi and Simplifi is way better at updating my accounts that quicken classic. Will delete Quicken Classic for windows soon probably unless someone can tell me what I am doing wrong? This program is supposed to save time, not make me do extra work ever time I log on. So frustrating

Chris_QPW

There are some fundamental differences between Quicken Classic and Simplifi/Mint. One of the most fundamental is that Quicken Classic doesn't include pending transactions, so you definitely have to take that into account when comparing between Quicken Classic and your financial institution.

As for Express Web Connect "getting better" I would say no, it will not, but the first thing to understand is that the problem may in fact be the way you are using Quicken and as such without working through and finding the "core problem" there isn't any way to tell if it could be made better for you or not.

Another thing I will state, is there is a fundamental difference in that Quicken Classic users tend to be more "hands on" whereas for Simplifi/Mint it is more "show me what the financial institution would probably already show most of, but in one spot.". In another words, Quicken Classic has users dealing with much more complicated finances and therefore need the extra flexibility, but it comes at the cost that you have to "make sure it is doing the right thing". For instance, with very few exceptions if one just downloaded investment account data and didn't check it for mistakes, most likely they would end up with problems. The reason is because the information the financial institutions send isn't always correct. Like Merril Lynch sends my wife's reinvestment dividend transactions as just dividends, not reinvest. So, it will take money out of the account, when it shouldn't. I have to correct these every time they are downloaded (about once a quarter).