Feature Request/Suggestion: Additional account types (26 Legacy Votes)
As a long-time Quicken user I am thrilled with the changes occurring with the new organization. As the Windows/Mac products improve and align, I would like to point out some common types of financial account (and those that have financial correlation) that people need to track but are not currently supported within the product.
Jim
- Insurance - Life (traditional)
- Insurance - Life (VUL)
- Insurance - Disability
- Investments - ESPP (currently supported... but awkward)
- Investments - Options / Grants / etc.
- Utilities - Quicken has never supported these as accounts... but should! :-) This includes electric / gas / water / custom / etc.
- Loyalty Points - hotel / airlines / car rental / credit card / etc
- AGGREGATE all financial and related data into a single place
- AUTOMATE the gathering of this data. Let computers do what they do best!
- SIMPLIFY understanding of this data
- IMPROVE PLANNING for all types of financial needs
Jim
1

Comments
Questions? Check out the Quicken Windows FAQ list
- List of Requests for Data Entry and Usability Options and Feature for Quicken for Mac
- List of Requests Related to Features for Investments for Quicken for Mac
Mac users may want to click on each underlined link, then follow the instructions on each page to add your vote to more related ideas.(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?
- Quicken Mac FAQ list
- Quicken Windows FAQ list
- Help Guide and FAQs for Quicken Mobile
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 Q user since '92, STILL using QM2007)
Plus, excluding the accounts from my net worth would help with that calculation....especially since in the conversion they got changed into US dollars....really skewed my balances where I had spent points....(and it did it inconsistently....in some cases it had showed I used the cash equivalent in points... Pretty sure I did use .03 of a point at some time in the past...
Also QW had the option to show hidden accounts in the side window, as "Separate" accounts....which is what I did to keep the Points/Miles Cash accounts separate from all my real Cash accounts.
Also had hidden/separate investment accounts....for what if portfolios....hmmm, the watchlist portfolio seems to be missing too.... Plus I used it to track the micro-loans I did through Kiva... Had also used to do sub-accounts too....
This virtual account would be like a brokerage account, but the transactions for each mutual fund would be projections of the corresponding transactions in each of the linked single-mutual-fund accounts.
I'd hide all the single mutual fund accounts and use the brokerage account for monitoring/managing the combined account.
How about a Donor Advised Fund account type?
Suggest you set up a regular brokerage account - tax-deferred.
Set the Display Options as Keep this account separate - as it is not part of your net worth.
Set the Transfers In tax attribute to Schedule A:Cash charity contributions.
Note: This conversation was created from a reply on: How about a Donor Advised Fund account type?.
Quicken user since 1991
Concur.
Note: This conversation was created from a reply on: Donor Account.
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
Me three.
Note: This conversation was created from a reply on: Donor Account.
Questions? Check out the Quicken Windows FAQ list
alright, that sound like it ticks most of the boxes. However its like a 401k in that I don't get specific holding/price info so its hard to keep the value current in Quicken.
Note: This conversation was created from a reply on: Donor Account.
What's hard about it?
In fact without any "holding/price" you don't even need a brokerage account. A checking account will do too. You just adjust the cash balance when the statement comes in.
For an investment account that would just be gear (action) icon -> Update Cash Balance.
For a non investment account enter a transaction where the category is [Account] ("Account" is the name of the account you are in).
Update: Note you could use an asset account type too.
Note: This conversation was created from a reply on: Donor Account.
IF you're running QWin,
instead of the "regular brokerage" that JM originally suggested, use a 401k account type ... and specify that you don't know the holdings.
IF you're running QMac, go with one of QPW's suggestions.
Note: This conversation was created from a reply on: Donor Account.
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
- Where to find a Help Guide for Quicken for Mac?
- Quicken Mac FAQ list
- Quicken Windows FAQ list
- Help Guide and FAQs for Quicken Mobile
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 Q user since '92, STILL using QM2007)
My ideal for a financial tracker is to have a single picture of all my finances.
For example, with the several examples you gave, many of them have a cash value in common and may differ in when the cash is accessible. Quicken could have the tools to track the cash value but then leave the accessibility up to the user to apply.
I am not saying that there may not be some additional account types needed. What I am saying is that it may not be as many as you think to accomplish what you need.
- Where to find a Help Guide for Quicken for Mac?
- Quicken Mac FAQ list
- Quicken Windows FAQ list
- Help Guide and FAQs for Quicken Mobile
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 Q user since '92, STILL using QM2007)
I also hold Notes Receivable as an ASSET, which works fine. Receivables is probably uncommon, so I don't think a separate type is high priority.
Likewise I'm not sure how to benefit from a Utility account. I can't think of it as an asset other than deposit. Customer deposits generally would not be material. Utilities are vendors and a separate account seems unnecessary. Tracking of payments can be performed via sorting or reporting.
Even so - I'll vote for this idea because I can see some value in an Insurance type. Thanks for idea.
Accounts, in Q, represent assets and liabilities ... whereas your utility bill has an amount owed (which, true is a liability) but when you pay it, that liability goes to $0. So, the account balance would yo-yo constantly. Utility should be treated as an Expense, not an ongoing liability.
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
Give that multiple Quicken competitors already have this capability, why exactly is it a bad thing?
Questions? Check out the Quicken Windows FAQ list
Utility expenses are already being added automatically when the payment is made. Mine are on auto-draft. The entry is made when I download bank transactions. I have a friend that uses budget pay with the utilities. They set up monthly recurring payments of the same amount. They only have to edit the schedule once per year. There are lots of ways to reduce manual entry.