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http://bit.ly/CommunitySSOAdd true multi-currency conversion support in Quicken for Mac (316 Legacy/Merged Votes)
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(Canadian
The app I use also does online banking though I don't know how well that compares to Quicken. It only applies to my US based accounts at any rate, I am unable to link those from other markets.
I live in the UK at the moment so multi-currency is critical. I am able to import QIF files into the app I use without trouble so have a "near" online banking experience.
@NeedMultiCurrency, that's good feedback on needing historical exchange rates.
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(Canadian
Also, this is not a user selectable option.
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- Where to find a Help Guide for Quicken for Mac?
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Quicken should eliminate the LARGE Ad space when a subscription expires
(Canadian
- Where to find a Help Guide for Quicken for Mac?
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COMPLETE list of Product Ideas - Quicken for Mac to VOTE onObject to Quicken's business model, using up 25% of your screen? Add your vote here:
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(Canadian
What about the user selectable option?
As for the changing currency, that was suppose to be fixed in 4.3.0 so if you are still having a problem, this is a bug you need to take to support.
- Where to find a Help Guide for Quicken for Mac?
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COMPLETE list of Product Ideas - Quicken for Mac to VOTE onObject to Quicken's business model, using up 25% of your screen? Add your vote here:
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(Canadian
1) Currency exchange download. Do we really need to keep the entire exchange rate history? Curious why this is important if conversion in accounts are done only once.
2) Currency conversion on the sidebar to the home currency.
3) Transfer conversion between accounts. Conversion rate added to the memo/note.
For now we would still keep reports displaying only a single currency and you would have to switch between the different currencies. On the fly report conversion would have to wait for a v2.
Thoughts?
- I don't think it is. The current balance needs to be expressed in the current rate but the items (debit/credit) using the rate at which they were obtained if they are being converted. It makes no sense to continually evaluate forgone gains and losses due to differences in the rate.
2) Currency conversion on the sidebar to the home currency.
- offer a filter that allows to either group different currencies in groups and sum them up by currency or to use the current rate and sum them up in a single (selected) currency. Just don't mix apples and oranges the way it is done now.
3) Transfer conversion between accounts. Conversion rate added to the memo/note.
- yes, and always record the rate at which a conversion was made at the time of transfer.
I also think that many of the votes here are possibly representing a shift from users posting their wants/needs via the Compare page to posting here on GetSat, where there is more flexibility and precision in providing details and visibility.
That said, I'm sure many Mac users would benefit from this (myself included, though for me it is lower on my priority list). Also, Canadian users would definitely benefit from this feature, or any cross-border users. But to put into perspective the demand, I suggest you take a look at this:
List of Obstacles and Hindrances for Migrating from QM2007 or QWin to Quicken for Mac
It might explain a few things. And it may affect your timing of implementing this, based on which users/market segment for Quicken you want to target first.
As for the priorities you mention:
- If conversion only uses one saved conversion rate, whenever you look at a transaction, or create a report, it will not capture the transaction as it was at the time it occurred. For US users, this may or may not be an issue, for but Canadian users this is a big issue as tax filings require capturing the exchange rate at the time of the occurrence (there are other options too but too involved to discuss here). But this option is always accepted by Revenue Canada. So this becomes important when reports are generated. So that is the reason for the need for exchange rate history. Why not leverage the work in QWin for Canada? I have no direct experience with it but I understand it supposedly handles all this already.
- Sidebar conversion sounds good
- Not sure what this would mean and how the transaction would look like on each side to the transfer. If this is embedded such that the exchange rate is hidden from user access, how does a user handle any adjustment that may be needed to the exchange rate? I think more info is needed.
It certainly would be a good start. But again, I suggest you look at the link above to possibly give this more context.- Where to find a Help Guide for Quicken for Mac?
- Quicken Mac FAQ list
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COMPLETE list of Product Ideas - Quicken for Mac to VOTE onObject to Quicken's business model, using up 25% of your screen? Add your vote here:
Quicken should eliminate the LARGE Ad space when a subscription expires
(Canadian
I'd like multi-currency to work the same way it does in QWin (where I can maintain multiple bank accounts in different currencies). I also don't understand why you'd do the necessary programming just for a new Canadian version, rather than the U.S. version. As I mentioned earlier, you have a large, untapped market of millions of American ex-pats who can't use the Mac version without this feature. Seems to me that from a business standpoint, you'd want both Canadians and Americans to purchase the program.
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COMPLETE list of Product Ideas - Quicken for Mac to VOTE onObject to Quicken's business model, using up 25% of your screen? Add your vote here:
Quicken should eliminate the LARGE Ad space when a subscription expires
(Canadian
- Where to find a Help Guide for Quicken for Mac?
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COMPLETE list of Product Ideas - Quicken for Mac to VOTE onObject to Quicken's business model, using up 25% of your screen? Add your vote here:
Quicken should eliminate the LARGE Ad space when a subscription expires
(Canadian
I had been using Quicken since 1996. Last year I bought Quicken 2016 thinking that the multicurrency feature was working properly. I have now several accounts in dollars and others in 2 different currencies, and my net worth is a mess. Also I can not transfer from one account to another. Quicken should have never had added a multi currency option for the accounts if the transfer option was not working properly (as it does in Quicken for Windows) and it makes a mess with the net worth and the rest of the reports. I had to file a third extension to my tax return because it is a big mess. We are millions of americans living abroad.
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COMPLETE list of Product Ideas - Quicken for Mac to VOTE onObject to Quicken's business model, using up 25% of your screen? Add your vote here:
Quicken should eliminate the LARGE Ad space when a subscription expires
(Canadian
- Where to find a Help Guide for Quicken for Mac?
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COMPLETE list of Product Ideas - Quicken for Mac to VOTE onObject to Quicken's business model, using up 25% of your screen? Add your vote here:
Quicken should eliminate the LARGE Ad space when a subscription expires
(Canadian
So like many of these things I can only suggest you test it with a small data set and see if it does what you need and if you like the interface.
Does not Include converted total in group totals, group sub totals and in net worth.
What I believe is needed would be add exchange rates based on
- Transaction date: (credit card and checking accounts) saved to that ledger and remains locked
- Current exchange rate: Group totals, group sub totals and net worth based
In either case, rolling exchange rate histories are not needed.
Just my 2 cents.
David
For someone to say there is no market for the foreign currency and Mac is looking at a tree and not seeing the forest.
Look at the below video, great watch if you want to see the latest on the big four (Amazon, Apple, Google and Facebook)
https://www.youtube.com/watch?v=jfjg0kGQFBY
Here is why:
Go to 6:20 and see the results of Macs and sales. That plus they have ~ 10% global share. While 10% may seem small, this 10% of the global market and buys based on value, not price. That is why Banktivity spent so much on developing their FOREX integration. Either, they are not very bright and wasted a great deal of money on development, or Quicken has not done their research properly. Right now, Banktivity is offering the value (foreign currency) and not quicken.
Also, not sure I fully understand why Quicken ("Quicken Marcus" I realize it was more of a quick thought from you and less of a strategy) would target the Canadian app first, as this is an even smaller market. This defies what has been stated.
I know i was tough on Quicken just now, but I really do like the app, as a whole, more than iBank. However, the foreign currency is a requirement that Quicken needs to step up and fully integrate.
Thanks all
David
"OPTION to keep and use a history of exchange rates, similar to what the Canadian version of Quicken now does."
The key word is USE it. It turns out that the Canadian version of Quicken does NOT USE the exchange rates when generating reports...
The request for this feature here should include implementing the USE of the exchange rate everywhere it is needed; reports, transactions between accounts of different currencies, investment transactions in foreign currencies, etc.
(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
- Where to find a Help Guide for Quicken for Mac?
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COMPLETE list of Product Ideas - Quicken for Mac to VOTE onObject to Quicken's business model, using up 25% of your screen? Add your vote here:
Quicken should eliminate the LARGE Ad space when a subscription expires
(Canadian