Introduce a new COMMODITIES category group under Accounts

rkoffler
rkoffler Quicken Windows Subscription Member
edited March 31 in Investments

The purpose of this idea (or additional functionality) is to give Quicken users the ability to track on an automated basis the value of their commodities in a similar manner as the Investing category, by entering the name of the commodity (i.e. GOLD, Silver, Platinum, Palladium, Gold American Eagle, Gold American Buffalo, Silver American Eagle, etc…).

Several investment houses (such as Monex) offer apps that allow the users to see the current unit prices, yet they do not allow to track changes or quantities.

By introducing this product feature, I think that many Quicken users would find this additional extremely useful for tracking assets in a similar manner as Quicken now offers tracking property/Debt, yet on an automated basis.

I am a long time Quicken client and have suggested in the past product improvements that were adopted.

Also I am an IT Professional, CDP, PM and application expert in building large Payroll, Pension, Benefits, HRMS applications.

Thank you for considering this suggestion and please do not hesitate to ask any relevant questions that may assist in development of this functionality.

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  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭

    As I see it, these would be like investing accounts where you have "shares" i.e. ounces, coins, or whatever and the price per unit varies. I suppose the same concept would work for crypto.

    Quicken can already download the spot prices for gold, silver, and maybe a few others; what specific others would you want?

    See this discussion for more info

    https://community.quicken.com/discussion/7960306/tracking-gold-i-know-about-xauusd-that-039-s-1-oz-how-to-track-100g-25g-etc-bars

    Would purchases and sales in these accounts be tracked manually, like other asset accounts?

    What do you see as the benefit of separating these from other investments?

    QWin Premier subscription
  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    You can already, in Q, create gold, silver and perhaps other commodity positions.

    BUT, unless there's the ability by the brokerages etc to download those quotes, or another way of providing them, this provides trivial, at best, benefit.

    Monex isn't currently a "Participating Financial Institution" with Q, so perhaps your energy would be better directed to bugging them into signing the contract with Intuit (who does the downloads for Q),

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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