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What Versions Of Quicken Work In Canada?

Bitznbytes

Currently have a mac and can run windows apps if needed and I"m in Canada and deciding on subscribing to Quicken however, I'm not too sure which Quicken I can use. I have rental properties and own a business so that leaves me with really one option - Quicken Home & Business (Canadian/Windows version) correct? Be that as it may, I have been looking at the US site and it does say this:

"The Quicken Classic line is intended for subscribers in the U.S. and Canada, since we are only able to support banks from these regions at this time".

So, if they are saying that the CLASSIC line works in Canada, does that mean that I can use "Quicken Classic Business & Personal" for the mac from the US site?

Any advice and thoughts are greatly appreciated,

Kevin

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Chris_QPW

There isn't going to be a perfect fit for what you need. I think this in general is a statement of the current offerings.

Quicken Mac (US and Canadian). Has the ability to download transactions from both US and Canadian financial institutions. The Canadian version is nothing more than setting some preferences, that could be set in the US version. Weak, multiple currency support, more just marking with the right currency symbol and keeping the different currencies separate. Business editions started, very little functionality (no invoices, and certainly nothing for rental).
Quicken Window Canadian. Only downloads from Canadian financial institutions. Has business level edition and should be as robust as Quicken Windows US in this area. No rental features. The best multiple currency support (but not perfect) or any Quicken product.
Quicken Windows US. Only downloads from US financial institution. Second best support of multiple currencies. Has the most functions including rental features.

jacobs

"Home & Business" is now called "Business & Personal". I'm sure someone at Quicken got paid a lot to come up with that important marketing change. 😂 There used to be separate business and rental property management levels, but they folded those together several years back. Also, what has always been just "Quicken" software is now called "Quicken Classic"; it was another marketing name change to allow them to more clearly differentiate the legacy desktop applications from their online-only Quicken Simplifi service.

Chris summarized your options well. Quicken Mac had never in its history offered the expanded business features until they released a Business & Personal version in December. At this moment, it's still a "version 1.0" work in progress, as they plan to add features incrementally rather than waiting months or years to build and release a "complete" Mac version. They have confirmed that invoicing is coming in the future; we don't know whether they will build the rental property features as well. (Although the basic product allows you to define multiple businesses for each of your properties in order to track income and expenses for each, which might be sufficient for many users with a few rental properties.)

If you work entirely in Canadian dollars, then the Quicken Mac limited multi-currency features won't impact you. If you do business in both US and Canadian dollars, then you might find it frustrating. Robust multi-currency support is another feature which the Mac development team has said is coming in the future, but as with all such promises, we get no clue when it will be forthcoming.

Bitznbytes

Thanks so much for your thoughts. Just so I don't pay and then look to get refund when things don't work in Canada, does Quicken Business and Personal found on the US page work for people in Canada? For instance, will it connect to Canadian banks to download transations, allow for tax in Canada, T1 and CRA support, work with basic features for rentals in Canada? Or should I just go with the Quicken Home and Business Windows only option from the Canadian site?

Thanks for any thoughts,

Chris_QPW

Are you talking about the Windows or Mac version?

Chris_QPW

The Mac version is sold on the on Quicken.com. For Windows they are separated, and you have to make sure you buy it on the right site.

Chris_QPW

Oops. Quicken Mac Canadian is separated too.

https://www.quicken.com/canada/product-selector-ca

Chris_QPW

https://community.quicken.com/discussion/comment/20417667#Comment_20417667

@jacobs do you know if Quicken Mac (Canadian) supports Quicken tax lines and such. And for that matter if Quicken Mac US can just switch to have them as an option?

I know that Quicken Mac is really just one program no matter where you buy it, but it might matter what currency you are working in and such (for the purchase of Quicken) of what site you are on, and what the defaults are going to be. If one looks at the page for installing Quicken you see that the Windows one has two separate installs, but Quicken Mac only has one.

https://www.quicken.com/support/how-do-i-download-quicken-quickencom-after-i-buy-it

One of the biggest differences between the Windows version and the Mac version is that the Mac version allows for both US and Canadian financial institution downloading, but the Windows one is very much separated.

jacobs

I'm a US-only user, so I don't have first-hand experience with Quicken Mac in Canada. But as you've noted, unlike Windows, there is only one application for the Mac, which works for US, Canada or both; it's a simple preference in Settings.

I just created a new file and set it to show Canadian features. All of the business categories which are pre-linked to tax lines are linked to Tax Form T2125 Business. Here's a sample:

Some other categories, like Charitable gifts and Medical Expenses are assigned to T1 General. Investment income and expenses are linked to T1 General, Schedule 3 and Schedule 4:

Since I know nothing about Canadian taxes, I'm just sharing what I'm seeing, but I don't know if there are things missing that would set off a red flag. 😉

Bitznbytes

Much appreciated!

Chris_QPW

Wow, thanks @jacobs that is even easier than I imagined it to be when I saw it come up in the Quicken Mac threads.