Quicken for Mac Subscription 5.9.0, 5.9.1 & 5.9.2 Released

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Comments

  • RickORickO SuperUser
    edited January 6
    JM said:

    From the release notes:
    • IMPROVED - Added the ability to include retirement accounts in the tax report to track taxable withdrawals.
    Am curious as to the rationale behind this modification.

    For background, I am retired and taking monthly distributions from a retirement account.
    I have federal and state taxes withheld from the distributions.
    Each month, the FI executes Sells to generate cash for the distribution.
    The FI then reports 3 transactions in the retirement account;
    1)  Federal tax withheld.
    2). State tax withheld.
    3)  Net distribution - which is transferred to my checking account.

    Including this account in the tax report would lead to numerous errors as to tax reporting;
    1)  Capital gains/losses from the sell transactions have no tax implications but are included.
    2). Net distribution is reported but it is the Gross Distribution that needed in the tax report.
    3)  Other activity in the retirement account such as dividend income is also included in the tax report.
    It is the Gross Distribution that is a taxable event - all other activity within the account has no immediate tax implications.

    My practice in recording these distributions is to record a split transaction in my checking account;
    Split #1)  Gross distribution as a transfer from the retirement account.
    Split #2). Federal tax withheld (a debit)
    Split #3)  State withheld (a debit)
    Each split is categorized - with the appropriate tax line item assigned to the category.
    Net of this transaction is the Net Distribution as reported by the FI.
    I ignore (delete) the tax withholdings and net distribution transactions as reported in the retirement account.

    Bottom line - the ability to include retirement accounts in the tax report only leads to errors in my situation.
    Am I missing something?@Marcus... Please take a look at this thread that is also asking for separate taxable and nontaxable versions of the investment income categories:

    https://getsatisfaction.com/quickencommunity/topics/category-report-dividends-st-cap-gain-lt-cap-gai...
  • J_MikeJ_Mike SuperUser
    edited January 6
    BUG in TXF file export.

    One has two options to export tax related data to be imported into tax prep software:

    Option #1).  Generate Tax Schedule Report and then select Export TXF from the face of the report (upper-right).

    Option #2).  From the menu bar - File > Export Tax File

    For my case, Option #1 seems to work as designed - I get the expected results after importing the TXF file into TTax.

    Using Option #2, I find that data from tax deferred accounts is being included; erg;, dividend income, etc., received in IRA accounts is included as taxable income.
    There are no customization options, other that Tax Year, when choosing this route.

    This bug has been around for some time - going back perhaps as early as QMac 2015 or 2016. I recall bug reports posted in Beta. It is still with us in the latest release.
    QWin & QMac (Deluxe) Subscription User
  • odysseusodysseus Member
    edited January 21
    I'm going to chime in here after noticing that the QMTF export function has been removed. I've argued with Marcus for a very long time about improving the export capabilities of Quicken. I've always believed him when he has said that the goal isn't to lock customers in to Quicken, but I've replied that the de facto result is nevertheless that customers are locked in -- and this is all the more true now. This is unacceptable. *Any* software product, especially one as widely used as financial management software, needs to implement a reasonable (i.e. lossless) way to exchange data with other programs. Therefore I think that proper export (no, csv export to a spreadsheet doesn't cut it) needs to be implemented *as a top-ten priority* -- one that includes investment transactions.

    In the meantime, I humbly request that QTMF export be restored with all of its bugs. It's better than nothing.
  • John KeatingJohn Keating Member
    edited January 18

    In general, I am and was very happy that Quicken for Mac separated forever from Intuit.  The new owners of the app work very hard to improve the app with constant updates.  The Subscription approach doesn't even bother me, even with auto renew!  But... I just unchecked auto renew from my Quicken profile and uninstalled the latest Quicken for Mac.  Why?  Because I checked under Export and the QMFT and other files that allowed to move data to other apps is GONE since the last couple of updates.  Quicken developers should trust that their good work keeps their customers even under the subscription shackle!  But to only have a Windows Transfer file and CSV is really too encumbering for me.  I somehow used a Time Machine backup and went back to the beginning of December, 2018, produced a QMFT file of all my data for 6 accounts since 2008 and moved them into SEE Finance. I have a year subscription with Quicken for Mac but am willing to let it go unless Quicken puts back the capacity to Export to other apps.  I don't like coercion.

    I'm actually one of those users though. I suspect that as the dev team has added features/changes to QM, they broke QMTF somewhere along the line. The right approach would have been for them to regression test the exporting module as new features were added since it's a pretty critical lifeline to those who commit to the app, who want to double-check reporting against other versions (as I do with QM2007), or who need capabilities beyond what the app can do.

    Note that I'm not talking about its known inability to export investments (which I didn't use), but about the bugs I encountered when just trying to export an unmodified, non-investment account I'd just brought over from QM2007.
  • smayer97smayer97 SuperUser
    edited January 21
    odysseus said:

    I'm going to chime in here after noticing that the QMTF export function has been removed. I've argued with Marcus for a very long time about improving the export capabilities of Quicken. I've always believed him when he has said that the goal isn't to lock customers in to Quicken, but I've replied that the de facto result is nevertheless that customers are locked in -- and this is all the more true now. This is unacceptable. *Any* software product, especially one as widely used as financial management software, needs to implement a reasonable (i.e. lossless) way to exchange data with other programs. Therefore I think that proper export (no, csv export to a spreadsheet doesn't cut it) needs to be implemented *as a top-ten priority* -- one that includes investment transactions.

    In the meantime, I humbly request that QTMF export be restored with all of its bugs. It's better than nothing.

    Optics are important...
    If you find this reply helpful, please be sure to click "Like", so others will know, thanks.

    (QM2007, Canadian user since '92)
    Have Questions? Check out these FAQs:
  • Marshall AMarshall A Member
    edited January 12
    When are you FINALLY going to update desktop Mac so it can sync schedule transactions up to Quicken for Web? This is a must ASAP
  • smayer97smayer97 SuperUser
    edited January 12

    When are you FINALLY going to update desktop Mac so it can sync schedule transactions up to Quicken for Web? This is a must ASAP

    You can add your VOTE for Sync Bill Reminders/Scheduled Transactions to Quicken on the Web.

    First, click on the underlined link above to go there, then click VOTE at the top of THAT page, so your will vote count for THIS feature and increase its visibility to the developers by seeking to have the features you need or desire end up in the latest version.

    While you are at it, you may want to add your VOTE to related IDEAS for Quicken Mobile by following the simple steps found here on the List of Requests for Quicken on the Web Features.

    Your VOTES matter!


    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
    If you find this reply helpful, please be sure to click "Like", so others will know, thanks.

    (QM2007, Canadian user since '92)
    Have Questions? Check out these FAQs:
  • Marshall AMarshall A Member
    edited January 12

    When are you FINALLY going to update desktop Mac so it can sync schedule transactions up to Quicken for Web? This is a must ASAP

    Ive already DONE that.  I was a beta tester for Quicken Web and they said this feature would be out in October!!
  • jacobsjacobs SuperUser
    edited January 12

    When are you FINALLY going to update desktop Mac so it can sync schedule transactions up to Quicken for Web? This is a must ASAP

    Marshall, if you were told that it was planned to be out in October and yet it's still not out yet, what does that tell you? To me, that says they ran into a problem(s) in development, internal testing or beta testing. 
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • Marshall AMarshall A Member
    edited January 12

    When are you FINALLY going to update desktop Mac so it can sync schedule transactions up to Quicken for Web? This is a must ASAP

    Then its really simple. Instead of saying “It will be released on xx/xx/xxxx” Say “We understand this is needed and we are working on it. No ETA at this time”


    OR..... dont release Quicken Web until this feature is in place. Scheduled transactions are a CORE feature of desktop, not a bells and whistles type thing. Its like putting out a car and saying “We plan on unlocking the oil cap starting on xx/xx/xxxx so you can add oil when needed. .... oh sorry, we ran into a problem. Wither stop driving or keep driving it without oil until it fully breaks down and is useless”
  • jacobsjacobs SuperUser
    edited January 12

    When are you FINALLY going to update desktop Mac so it can sync schedule transactions up to Quicken for Web? This is a must ASAP

    Marshall, first, please understand that I agree with you that this is a needed feature.

    That said, also understand that there are probably upwards of 50 features (I've never tried to count, but I'd guess it's in that area) that one user or another on this forum has said basically the same thing about: this is so basic... so core... what's the point of having the software if it can't do this one thing?! And these features are across almost every area of the program: budgets, reports, importing, multi-currency, investment-tracking, loans, etc.

    My point is simply that what's priority/critical/can't-live-without for one user is a feature that other users find less important or completely unimportant -- and visa versa. Their approach to software development is to release things as they can, but not to hold them back until the feature set is 100% complete. For instance, the loans functionality which was released two years ago still doesn't handle all types of loans and interest; had they not released the loans feature until this was complete, we still wouldn't have loans. the budget functionality was released three years ago, but still doesn't handle some important things many users want it to; had they waited to implement every feature on the wishlist for budgets, we still wouldn't have budgets in Quicken Mac. 

    If a feature is inadequate but somewhat useful, then use it; if it's truly completely unusable for you, then just don't use it (while reporting to Quicken what it would take for it to be usable for you). But understand that not everyone uses scheduled transactions. Not everyone uses Quicken Web for a complete record of their accounts. You're advocating for no release until it's optimal, but for some users, what they've released so far is better than nothing.

    Again, please don't misunderstand me. I'm all for them adding this missing functionality. And, I'd love it if they would be more communicative about what's in the pipeline (and more transparent with their user base in general). I'm just trying to say that from a broader perspective, from a perspective outside just what's important to me personally, I do understand why they release things in phases, in incomplete states, without all the desired functionality, etc. -- because something is often better than nothing, and because the user feedback they get on the early incarnation of a feature helps them iterate and turn it into a more successful feature somewhere down the line.
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • odysseusodysseus Member
    edited January 21
    @jacobs makes some good points (namely that everyone's deal-breaker and most-needed feature tends to be different), but I would argue the lossless data import and export is not a mere "feature," but *basic functionality* essential in just about any program, especially one with as important a market presence as Quicken. For example, in the word processing field, just about every word processing alternative to Word can import .docx files relatively successfully (or .rtf), and Word can export losslessly to rtf which is well understood (and the data is much more complex than for financial management programs). Viewing lossless export as a "feature" is deceptive because it really isn't something *any* user would have to use often -- but it becomes crucial for those rare cases when one does.

    I understand Marcus' point about there being limited resources such that devoting time to import/export would take time away from adding features. However (and I may be ignorant), I find it hard to believe that improving .qif export to include investment transactions would be *that hard* or take *that long* (not that I'm against the development of a new data interchange format ...) If one argues that there's already .qxf, that's labeled "Quicken Windows Transfer File," and I understand that it's a proprietary format.

    By the way, compatibility with .qif isn't merely an export issue. My French bank currently only exports to .qif. What am I supposed to do? Importing into Quicken 2007, then exporting and importing to Quicken 2019 would be a huge hassle (and wouldn't it require the creation of a new account?).
  • smayer97smayer97 SuperUser
    edited January 18
    odysseus said:

    @jacobs makes some good points (namely that everyone's deal-breaker and most-needed feature tends to be different), but I would argue the lossless data import and export is not a mere "feature," but *basic functionality* essential in just about any program, especially one with as important a market presence as Quicken. For example, in the word processing field, just about every word processing alternative to Word can import .docx files relatively successfully (or .rtf), and Word can export losslessly to rtf which is well understood (and the data is much more complex than for financial management programs). Viewing lossless export as a "feature" is deceptive because it really isn't something *any* user would have to use often -- but it becomes crucial for those rare cases when one does.

    I understand Marcus' point about there being limited resources such that devoting time to import/export would take time away from adding features. However (and I may be ignorant), I find it hard to believe that improving .qif export to include investment transactions would be *that hard* or take *that long* (not that I'm against the development of a new data interchange format ...) If one argues that there's already .qxf, that's labeled "Quicken Windows Transfer File," and I understand that it's a proprietary format.

    By the way, compatibility with .qif isn't merely an export issue. My French bank currently only exports to .qif. What am I supposed to do? Importing into Quicken 2007, then exporting and importing to Quicken 2019 would be a huge hassle (and wouldn't it require the creation of a new account?).

    Even if importing using QIF into QM2007 then importing that into QM2019 does create a new account, you can simply select all the transactions and click and drag all from one account register to another. So it may be a viable work around, as long as QM2007 can run on your Mac.

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
    If you find this reply helpful, please be sure to click "Like", so others will know, thanks.

    (QM2007, Canadian user since '92)
    Have Questions? Check out these FAQs:
  • odysseusodysseus Member
    edited January 18
    odysseus said:

    @jacobs makes some good points (namely that everyone's deal-breaker and most-needed feature tends to be different), but I would argue the lossless data import and export is not a mere "feature," but *basic functionality* essential in just about any program, especially one with as important a market presence as Quicken. For example, in the word processing field, just about every word processing alternative to Word can import .docx files relatively successfully (or .rtf), and Word can export losslessly to rtf which is well understood (and the data is much more complex than for financial management programs). Viewing lossless export as a "feature" is deceptive because it really isn't something *any* user would have to use often -- but it becomes crucial for those rare cases when one does.

    I understand Marcus' point about there being limited resources such that devoting time to import/export would take time away from adding features. However (and I may be ignorant), I find it hard to believe that improving .qif export to include investment transactions would be *that hard* or take *that long* (not that I'm against the development of a new data interchange format ...) If one argues that there's already .qxf, that's labeled "Quicken Windows Transfer File," and I understand that it's a proprietary format.

    By the way, compatibility with .qif isn't merely an export issue. My French bank currently only exports to .qif. What am I supposed to do? Importing into Quicken 2007, then exporting and importing to Quicken 2019 would be a huge hassle (and wouldn't it require the creation of a new account?).

    Yes, that would work, but I wouldn't want to do it on a repeated basis which would be necessary in my case.
  • smayer97smayer97 SuperUser
    edited January 18
    odysseus said:

    @jacobs makes some good points (namely that everyone's deal-breaker and most-needed feature tends to be different), but I would argue the lossless data import and export is not a mere "feature," but *basic functionality* essential in just about any program, especially one with as important a market presence as Quicken. For example, in the word processing field, just about every word processing alternative to Word can import .docx files relatively successfully (or .rtf), and Word can export losslessly to rtf which is well understood (and the data is much more complex than for financial management programs). Viewing lossless export as a "feature" is deceptive because it really isn't something *any* user would have to use often -- but it becomes crucial for those rare cases when one does.

    I understand Marcus' point about there being limited resources such that devoting time to import/export would take time away from adding features. However (and I may be ignorant), I find it hard to believe that improving .qif export to include investment transactions would be *that hard* or take *that long* (not that I'm against the development of a new data interchange format ...) If one argues that there's already .qxf, that's labeled "Quicken Windows Transfer File," and I understand that it's a proprietary format.

    By the way, compatibility with .qif isn't merely an export issue. My French bank currently only exports to .qif. What am I supposed to do? Importing into Quicken 2007, then exporting and importing to Quicken 2019 would be a huge hassle (and wouldn't it require the creation of a new account?).

    Understood. Just pointing out that this is a viable work-around until/if this gets addressed otherwise, however clumsy and cumbersome it may be.

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
    If you find this reply helpful, please be sure to click "Like", so others will know, thanks.

    (QM2007, Canadian user since '92)
    Have Questions? Check out these FAQs:
  • s2kdrivers2kdriver Member
    edited January 21
    Thanks for eliminating the effect of Remove Shares transactions on the Portfolio - Realized Gain view and the Tax Report.  However, Remove Shares still incorrectly influences the IRR and ROI performance measures for an account - by appearing to treat these transactions as complete losses (i.e. a sale for $0).  The impact can cause the IRR and ROI measures to go negative in a growth situation.  In order to have valid IRR and ROI measures for an account, I currently have to simulate a Remove Shares transaction by instead using paired Sell and Payment transactions to first remove the shares (at the correct price) and then adjust the cash in the account.  Only by doing this can I eliminate the negative effect of Remove Shares on the IRR and ROI performance measures.  It would be great if you could fix this, and I could return to using Remove Shares as intended.
  • smayer97smayer97 SuperUser
    edited January 23

    BTW, there are plenty of suggestions posted in this forum. You can browse through the IDEAS section of this forum and VOTE for the request of each of the missing features to be added back into Quicken for Mac....to help direct the priorities of the developers.

    To do that click on this underlined linkfollowing the instructions then VOTE to your heart's content
    Categorized List of IDEAS of Feature Requests and Enhancements to Vote On

    or if you prefer this layout:
    EXPANDED List of Categorized IDEAS of Feature Requests and Enhancements to Vote On

    These lists only capture and categorize about 70% of all the IDEAs in this section. Read this FAQ to learn how to see them all:
    How to Filter Conversations/Discussion Threads on this Forum (to see only what you want)

    Re: #2, you can go to the next cheque # by pressing the +/- keys while in the Cheque # field. 

    You may want to add your VOTE to Remember and apply start/end dates (for #1)Customizable Reminder Selection (for #6)First, click on each underlined link above to go there, then click VOTE at the top of THAT page, so your vote will count for THAT feature and increase its visibility to the developers by seeking to have the features you need or desire end up in the latest version.

    While you are at it, you may want to add your VOTE to related IDEAS found on the 
    List of Requests for Reconciliation Process, the 
    List of Requests for User Interface Options and Features and the 
    List of Requests for Bill Reminders (aka Scheduled Transactions) and Graph Features (aka Cash Flow Forecast or Projected Balance)
    . Click on each underlined link, then follow the instructions to add your vote to more related ideas. 

    For any ideas that you have raised for which you do not find an entry, create one in the IDEA category so that others can also add their VOTE.

    Your VOTES matter!


    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

    anita Contact Joel... He is a fellow SU in this forum and used to train and teach. He is mostly retired and located in the US but he may be able to direct you. Can't hurt to try.
    https://getsatisfaction.com/quickencommunity/topics/quicken-consulting-tutoring-and-training-service...

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

    If you find this reply helpful, please be sure to click "Like", so others will know, thanks.

    (QM2007, Canadian user since '92)
    Have Questions? Check out these FAQs:
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