Auditing

Paul Del

I've used quicken since it came out. I'm also a retired auditor.

I believe the audit piece of the accounting puzzle is largely missing from Quicken and might be implemented in two ways.

1. A management audit of a customer's use of the software.
2. A financial audit focused on the performance and accounting objectives of the customer.

Both endeavors could be; focused by an opening questionnaire, processed by a largely automated review of the customers data, and summarized in standardized reports with personalized opinions.

The end product could vary from a list of suggestions to a formal annual report as required.

Confidence in the product would be enhanced, feature overload reduced, and a new revenue stream added.

"Financial advisors" and CPA firms would love to enhance the value the product and the audit reports, once Quicken and Quicken's customers took care of the data entry and arithmetic!

Without auditors to do the impossible for the ungrateful, we would have no GAAP!

Fix the audit piece so the wife to doesn't ask me to do it!!!

NotACPA

I'm also a retired auditor, and I believe that this request is overblown and unnecessary.

Quicken is intended for individuals and their personal business dealings (e.g., home businesses, farms, etc). It's not intended for even SMALL businesses that have employees or inventory of any sort (Q can't handle them).

To implement an audit function as described, would benefit only the tiniest fraction of Q users at a development and implementation cost that would impact ALL users.

The OP should switch to Quickbooks, where an Audit function IS available.

👎️ I'd vote against, if that were possible.

Jim_Harman

On the other hand, I think it would be helpful for Quicken to provide better data consistency checks and/or guidelines to help customers check their data integrity.

The following discussion provides one way of doing this. As you can see, several of us found issues with our own data. This has inspired me to try this again when I get a chance.

https://community.quicken.com/discussion/7898494/how-to-verify-the-integrity-of-your-quicken-file

volvogirl

Quicken is just a personal finance program, not a real accounting program. To get real accounting features and rules you need QuickBooks. Quicken is owned by a separate company and not connected with QuickBooks and Intuit.