The ads have gotten unbearable. I wrote about the process of switching from Windows to Mac here.i currently use Quicken on Mac for my cash accounts (checking and savings). I have been using Quicken to manage my finances since 1989: first on the Mac, then a long stint on the Windows version, before switching back to the new-and-improved Mac version four years ago.If you’re a Quicken Windows version thinking about switching over to the Mac, this review should be useful. In this post, I’ll share an update on how it’s gone using the latest version, Quicken 2020 for Mac.Patzer also described a future where Quicken for Mac, Quicken for Windows and Mint.com are integrated so that users will be able to access their personal Unlike other written reviews of Quicken software, my recent experience is exclusive to the Mac platform, though I will make feature comparisons to the Windows version. I dont love the idea of transaction-level data floating around in the cloud, however id compromise on that for the right tool.As I wrote then, I had very high expectations for the Mac version under new leadership, independent of Intuit, and the financial benefit of a new subscription-based business model.I switched over to Mac for most things almost twenty years ago, except Quicken. Quicken for Mac – An EvolutionFor most of my time on Quicken, I used the Windows flagship version of the program. With this background and financial situation, I have had many opportunities to evaluate and tug at the boundaries of Quicken as a personal finance program, particularly on this evolving Mac version of the software. I’ve always tried to be disciplined when it comes to money, a natural-born planner, and I’m comfortable managing my own finances. My work for a publicly-traded company for the past twenty years has allowed me direct experience with stock options, restricted stock units, performance shares, deferred compensation plans, and a variety of employee benefit programs that follow that kind of employment. My finances mirror those of many mid-life families eyeing retirement: a half-dozen investment and retirement accounts, college savings accounts, a home, etc.
![]() I finally took the leap in 2016 after Quicken 2017 for the Mac was released, and initial feedback was mildly positive for the first time. Each year I would await the latest incarnation for the Mac, only to be disappointed by the one-star feedback of early adopters on the Mac App Store. Instead, I used a virtualized version of Windows inside the Mac to use Quicken. ![]() I typically renew in November and watch for Black Friday sales at Amazon. When Quicken launched its subscription business model in 2016, many customers (myself included) were concerned that that the software would languish, and all the subscription revenue would simply pay down leveraged debt, now that the Quicken corporation was owned by private equity 1.I subscribe to the Premiere version of Quicken, which lists for $80 per year on Quicken’s web site, though I’ve never spent anything close to that in renewals. I am heartily glad of this development. This is surprisingly robust and complete. Touted as their number one feature request, Quicken introduced access to your financial system via the web in 2019. New Features in Quicken 2020Web Access. We’ll have to wait and see if this happens with Quicken. Private equity firms typically sell their investments after a five to seven year holding period, and a company being offered up for sale is often tempted to dress up its profits by deferring expenses or cutting staff. Quicken’s private equity ownership period hits the five-year mark in April 2021. Video adapters for macOne glaring omission is two-factor authentication as a security measure. But it’s a handy tool to check in on your finances while traveling without having to pack a computer (access on an iPad Pro using Safari was fine). It doesn’t appear you can pay bills from the web platform, nor can transactions from investment accounts be downloaded. Google photos editing free for mac miniMy current process for online bill paying through my bank works well enough for me.PDF Bill Downloading. I’ve tinkered with the new version, but haven’t used it. Paying bills from within Quicken is only available for Premiere subscribers, and the previous incarnation made no sense to me. Quicken revamped its bill-pay functionality in 2020. I’ve turned off web access for this reason, but will turn it back on when better security measures are in place.Bill/Check Pay. For some reason, it won’t download my cellphone statement from AT&T, though it knows how much it is. It seems to work well, unless it doesn’t. This is a convenient way to access these bills without having to navigate to the vendor’s web site, type in credentials, and search for the latest bill or statement. A few additional reports were created, but sadly, we still don’t have any budget to actual reports, which is a mainstay of personal financial management.Transaction Renaming Rules. Reports are now better organized and easier to customize and save. Quicken made some improvements in reporting available on the Mac in their newly designed Report Center. Improvements and UpdatesReporting. This feels like a work-in-progress, but it should improve over time. If those two rules match, it renames the transaction to “Vashon Thriftway”. Here’s an example transaction from a grocery store purchase:The new renaming rule I created scans for two bits of text: “AplPay” and “THRIFTVASHON”. They’ve even added some power-user techniques to suss out the proper renaming of some of the more bizarre credit card transactions I routinely see, particularly with Apple Pay transactions I pay with my watch. That has mostly been corrected now with their new transaction renaming engine (a bug still persists that makes Quicken unable to remember transfers to other accounts as part of a memorized transaction). For years, I would shake my head as Quicken would stubbornly refuse to learn the proper expense category for the utility bill I download and pay every month. This is a welcome addition. What’s Still Lacking or Needs ImprovementReporting, Particularly Against Budget. This is especially important for retirees or those soon approaching retirement age. You can now include account transfers and investment income in your annual budget. Quicken’s budget tool received an important update. This was a very helpful addition.Budgeting Improvements. Future For Quicken Full Budget ForI’ve been waiting for this basic actual vs. Month-to-date actual results. Unless you happen to view the 12-month screen on the very last day of the month, the year-to-date totals are useless: the budget total includes the full budget for the month you’re viewing vs. Instead of a report, you get a bizarre on-screen (and unprintable) visualization of budget performance for the month, or an unwieldy 12 month stacked grid, neither of which I find at all useful. Budget, which is an essential financial planning tool. Of course, my Excel hack lacks interactivity and drill-down capability, which is important in tracking down the source of budget variances.Quirky Transaction Download Errors. I took the time to automate the workbook in 2019, so it takes just moments to create. How in the world can a software program designed to help individuals and families manage their personal finances not include a budget to actual report?Tired of waiting, I now export actual and budget figures out of Quicken to create a proper actual vs.
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