Rating: 
Summary: Intuit Stumbles on Quicken 2004
Review: A major player in the personal finance software arena for years, Intuit and Quicken has helped thousands keep track of their personal finances. I have been a Quicken user since the early days (Quicken 1 and 2), have upgraded to new releases over the years and have always been very satisfied with the Quicken product.Quicken 2004 Premier changed all that. The release of Quicken 2004 was advertised as allowing you to get instant answers to questions like "Are my investments outperforming the market?" and "What is my return for the past 1,3 and 5 years?" Unfortunately, after upgrading from Quicken 2003 to Quicken 2004 Premier, the question I was asking most was "What happened to my data?" Quicken 2004 has corrupted my personal finance information on four separate occasions (I know, "fool me once shame on you, fool me twice, shame on me" ... I don't want to even think about "fool me four times..."). My financial books include four checking accounts, several credit card accounts, some loans, several investment accounts, and a smattering of other accounts. No account type is immune to corruption. In my checking accounts, one major problem is that Quicken 2004 insists on making up numbers (really, really, BIG numbers, like as big as your computer can handle), creating transactions with random dates to go along with the made-up numbers, and then inserting these transactions in the register. At one time my calculated net worth was too large to display (I wish ...); another time I owed more than the United States GDP. On another occasion Quicken 2004 erased all of the transactions from one checking account, strangely keeping a balance that looked to be about right. In another account, I have been overdrawn once due to a Quicken 2004 error. In the investment accounts Quicken 2004 decided to change the ticker symbols of some stocks in the investment accounts to unknown symbols on more than one occasion. It's not clear when this happened; it may have been during the updating process when prices are downloaded into Quicken. This caused trouble not only in evaluating the portfolio, but the reconciliations of the accounts were very challenging, because I was never sure if the difference was due to my error, or if Quicken had changed a symbol in one of the dividend re-investment transactions (which it did on two occasions). A few of the shortcut keys that Quicken power users have grown accustomed to, no longer work in Quicken 2004 (hitting the space bar to select a check during reconciliation, for example). These are known errors and "will be fixed in the next release". At least that's what I was told when I discovered the issue in Release 1. It has not been fixed as of Release 5. I was given the above information on one of my several attempts to get help by calling customer service. I was helped by "Jennifer", although I suspect her name was really Neeraja, or Srividya or something similar. Customer service appears to consist of very bored people, who are very far away, reading answers in OK English off of scripts to solve problems you did not call with. I was told once to reload Windows (I did not). Most of the time, I was told to run the File/File Operation/Validate option within Quicken 2004 (I did several times). I don't remember ever having to run that option on earlier versions of Quicken; I'm not sure it even was an option with Quicken 2003. On another occasion, I was questioned quite closely about the type of printer I had. Apparently, printers have become notorious corruptors of data in Quicken 2004. So, who knew? (I'm joking -- they're not). In no case, did the call to customer support solve my immediate problem. Sending in questions via email was better in the sense that I did not receive any wrong or useless information. In fact, I received no information at all. All emails went unanswered. Bug reports are never acknowledged, but they never have been. Running Quicken 2004 requires some serious horsepower. Intuit will tell you Quicken 2004 can run on a Pentium 200 or higher machine with 32 MB RAM and 75MB hard drive space. I originally installed Quicken 2004 on a spare Pentium 233 MHZ machine with 100MB hard drive. Big mistake. When I fired up the software, the lights in the house didn't exactly dim, but I bet they wanted to. Quicken 2004 is unbearably slow on machines below the recommended 300MHZ limit, and I wouldn't put it on anything less than 700Mhz. Quicken 2004 seems to be doing a lot of disk I/O and window rendering and all of that thrashing around costs performance points. My copy of Quicken is now installed on a Dell Dimension 4600, 2.79GHz, 512RAM, 111GB free hard drive, Windows XP Professional. As you might expect, speed is no problem. On the plus side, Quicken has done a nice job with the charts and reports. So, even if the numbers are wrong, they look marvelous. The screen gets real busy, though, what with the Menu Bar, the icon bar, the Quicken Home side window, the main register window, the transaction window and the maddening Inuit advertisements ('Try Turbo Tax - the #1 tax solution year after year") at the bottom, all showing up at once. Intuit will tell you that Quicken 2004 works with a Super VGA (800 x 600). It will, but the recommended 1024 x 768 with 16 bit color monitors will make your life more pleasant. Again, the numbers might be wrong, but at least you'll have a shot at seeing them. So, what's a body to do? Well, I'm digging through my files looking for my copy of Quicken 2003. I'll revert back to that. It worked fine, no funny stuff, had almost all of the features of Quicken 2004 and it was stable. In the meantime, I'll keep watching Intuit to see if they fix the new version, and begin to understand what customer service is all about.
Rating: 
Summary: most of the problems described in these reviews ...
Review: During the brief browsing of this review list, I noticed plenty of complaints which may or may not be directly related to this product. The product can only perform as well as the system on which it is installed. For a real review of any software, dont trust someone who knows next to nothing about computers and how they work. Instead go to any number of online places for fair and honest information (there are plenty of people whose PROFESSION is evaluating and reviewing software...)rather than trusting the ramblings of some secretary who only knows how to use 2 or 3 products and log in to her AOL account. You could be unhappy for the wrong reason just becuase you listen to someone who doesnt know the first thing about what they are telling you...!
Rating: 
Summary: This new Quicken gets better and better as I used it more
Review: I also wrote a review under the Quicken 2004 Deluxe section but this is actually the version I am using so I wanted to make a few more comments to help out anyone looking to upgrade from earlier versions. The 2004 Premier Home & Business version is basically the same as the Deluxe version but has some more business and stock features added. As I said in my other review about Deluxe 2004 the new 2004 interface does take some getting used to but as you use it more you should find it to be actually a much more efficient program to use. I zip in and out of the program quicker and I spend much less time trying to get things done. For example the online account updating is far more stable and easier to use than my experience with previous versions. I went all out and I simply upgraded to the 2004 version without uninsalling my Quicken 2002 Home & Business version as some other reviewers have done. After several months of using the new 2004 version I honestly have not had a single problem with it. Since I have read so many incredibly negative reviews of the new 2004 version let me repeat one more time that I have not had a single problem with this program since installing it. The only thing I found that annoys me was that several simple features or options are missing in 2004 version that existed in 2002 such as being able to turn of the opening tune without turning off all the sounds and being able to have a different color for each of the accounts. On the posative side the 2004 opens up quickly and instantly and the online one step update works perfectly for me. My recommendation is that you back up all your Quicken data files on a separate disk before you do anything. It does take time to adjust to the look and feel of the new interface but I really like it now that I am used to it. For your reference I am using Windows XP Pro SP1 with all the Microsoft online updates installed. If you are using an earlier version of Windows you might want to test 2004 out before you completely migrate it. If not running Windows XP you will want to make sure 2004 works ok for you since some other reviewers have said they experienced some issues. When Intuit adds those extra features I liked in 2002 I will be happy to give it a 5 out of 5 star rating. Finally, I highly recommend you give this new 2004 product a try regardless of what you have read by some of the other reviewers. Just back all your data files up and make sure you have your previous Quicken version disks if for some reason you decide you want to reinstall your older version.
Rating: 
Summary: Not Worth The Upgrade
Review: I am a heavy user of Quicken, both for home and business. I have found no discernable improvement in Quicken 2004 over Quicken 2003. The screens look a bit different, but they didn't bother to fix any of the bugs or flaws. For example, the business statement facility still has almost no customization available. You can't track the performance of non-investment accounts, such as CDs or interest-bearing checking accounts. Advertisements are still present on almost every screen and still annoying. Don't waste your money unless you have an ancient version.
Rating: 
Summary: Perfect for home based consulting business
Review: I have a simple home-based consulting business with 2 employees and a small number of customers. Quicken Home & Business is the perfect accounting system for me. I was a financial officer for several companies and have used several high end systems. This is the easiest and most efficient accounting system ever made - an excellent product. If it covers your needs, you should consider yourself lucky. Here are some highlights and pointers: 1.Data entry is extremely fast. As soon as you start typing, Quicken guesses what you are going to enter and fills it in for you. Check book entries are effortless. This is the most important feature of any accounting system because sole proprietors should not waste time with data entry.
2.Credit card transactions are automatic. Get yourself a separate credit card for business transactions and download directly into Quicken. I have used 4 different cards and the best integration is the with Quicken Master Card. It also earns you about 1% in airline awards or gift certificates. Just click on "one step update" and you have all new transactions ready to review.
3.Bank reconciliation is completely done for you. You never need to go through a bank statement again, matching up transactions. Quicken "one step update" downloads new transactions and finds the corresponding entry in your check register. You just confirm or add if it is a new transaction. When the monthly statement comes, you enter the ending balance and Quicken figures out which transactions cleared. You rarely need to even look at the bank statement.
4.Reporting is simple. Just choose from dozens of pre-designed reports and make small adjustments if needed. You can also export any report to modify it in Excel or Word if you prefer.
5.Invoicing is simple and quick. Just create descriptions for each service you offer and invoicing is a snap. Quicken tracks which invoices have been printed and tracks receivables effortlessly.
6.Tax reporting is easy. You can instantly produce a Schedule C and if you also purchase TurboTax (which I highly recommend), you can import data directly into your tax forms.
7.Manage cash between multiple bank accounts. If you choose a bank that is supported by Quicken, you can easily move funds between checking and savings. A few pointers for using the product.
1.Don't confuse this product with other Quicken products such as Quicken Deluxe or Quicken Premier.
2.Intuit also produces QuickBooks, which is not a product I recommend. If you need the power of QuickBooks, there are other applications available that may be better.
3.Don't combine your personal and business financial data in one file. Quicken recommends you do this but you definitely should not. Instead, set up your personal Quicken file first. Then from the main menu, select File/New/New Quicken File. It is very easy to switch between your personal file and your business file and you will not have any problems with reports, tax forms etc. if you keep them totally separate. You do not need to purchase additional software licenses to have multiple files. I have 3 businesses and one personal file on my copy of Quicken Home & Business.
4.Create a liability account called "owners draw". Quicken does not explain this well, but this will become your owners equity account on your balance sheet. When you draw funds from the business (unless you do it through payroll), you assign the check or transfer to "owners draw" and this will accumulate on your balance sheet to show the true net worth or your business.
Rating:
Summary: Perfect for home based consulting business
Review: I have a simple home-based consulting business with 2 employees and a small number of customers. Quicken Home & Business is the perfect accounting system for me. I was a financial officer for several companies and have used several high end systems. This is the easiest and most efficient accounting system ever made - an excellent product. If it covers your needs, you should consider yourself lucky. Here are some highlights and pointers: 1. Data entry is extremely fast. As soon as you start typing, Quicken guesses what you are going to enter and fills it in for you. Check book entries are effortless. This is the most important feature of any accounting system because sole proprietors should not waste time with data entry.
2. Credit card transactions are automatic. Get yourself a separate credit card for business transactions and download directly into Quicken. I have used 4 different cards and the best integration is the with Quicken Master Card. It also earns you about 1% in airline awards or gift certificates. Just click on "one step update" and you have all new transactions ready to review.
3. Bank reconciliation is completely done for you. You never need to go through a bank statement again, matching up transactions. Quicken "one step update" downloads new transactions and finds the corresponding entry in your check register. You just confirm or add if it is a new transaction. When the monthly statement comes, you enter the ending balance and Quicken figures out which transactions cleared. You rarely need to even look at the bank statement.
4. Reporting is simple. Just choose from dozens of pre-designed reports and make small adjustments if needed. You can also export any report to modify it in Excel or Word if you prefer.
5. Invoicing is simple and quick. Just create descriptions for each service you offer and invoicing is a snap. Quicken tracks which invoices have been printed and tracks receivables effortlessly.
6. Tax reporting is easy. You can instantly produce a Schedule C and if you also purchase TurboTax (which I highly recommend), you can import data directly into your tax forms.
7. Manage cash between multiple bank accounts. If you choose a bank that is supported by Quicken, you can easily move funds between checking and savings. A few pointers for using the product.
1. Don't confuse this product with other Quicken products such as Quicken Deluxe or Quicken Premier.
2. Intuit also produces QuickBooks, which is not a product I recommend. If you need the power of QuickBooks, there are other applications available that may be better.
3. Don't combine your personal and business financial data in one file. Quicken recommends you do this but you definitely should not. Instead, set up your personal Quicken file first. Then from the main menu, select File/New/New Quicken File. It is very easy to switch between your personal file and your business file and you will not have any problems with reports, tax forms etc. if you keep them totally separate. You do not need to purchase additional software licenses to have multiple files. I have 3 businesses and one personal file on my copy of Quicken Home & Business.
4. Create a liability account called "owners draw". Quicken does not explain this well, but this will become your owners equity account on your balance sheet. When you draw funds from the business (unless you do it through payroll), you assign the check or transfer to "owners draw" and this will accumulate on your balance sheet to show the true net worth or your business.
Rating:
Summary: Buggy with Confusing Interface...newer doesn't mean better!
Review: I have been using Intuit products for many years, especially Quickbooks Pro and Quicken Home and Business. I must say that with each new version, it does not get easier...just more complicated and buggier. I am probably one of the few who have successfully used Quickbooks Premier Contractor 2003, but I can't say the same for Quicken Premier Home and Business 2004. I have spoken to tech support and they said they've had no problems at all with this software. I found the interface very busy. What happened to my simple checkbook register where I write checks? There's now a "Home" column on the lefthand side of the register that lists categories. It took me awhile to find my personal checking account listing. That "Home" column is permanent, something you cannot delete and it takes up too much room. At least with the QB 2001 I could "X" out the bottom pane. There's no hope with this. You can expand the register box, and kind of shrink the annoying column. It's a busybox! I have a problem with delayed response from the keyboard. The words are delayed by about 2 seconds as I'm typing...very annoying. And if I hold down the Backspace key, it stutters backwards to erase something. I placed a call twice to Intuit. First rep said she never heard of this. I told her I have. Told me to uninstall the software, copy CD to harddrive, and reinstall in Safe Mode. Said it would correct the delayed typing, since she felt that no drivers would load and I should use "Custom" installation and put it in a new folder. Didn't work. Don't waste your time. Same problem exists. Called again and second tech said that Quicken 2004 doesn't like my computer. Gee, thanks. He said it's something in my database that is causing the delayed typing. I told them when they get enough calls from irate customers, please put out a patch, that it isn't just me I'm sure. I told them from what I've been reading, their new improved software stinks. QB Home & Bus 2001 worked flawlessly. My advice: "if it ain't broke, don't fix it." I should have listened to myself
Rating:
Summary: Try a FREE open source product before buying bugs
Review: I have been using Quicken since 1994. Only draw back / problem I have had with the product is its lack of "forward looking" capabilities in the area of Budgeting and Cash Forecasting. I was excited about the apparent future looking cash forecast capability of Quicken 2004 Home & Business. However, after using it / testing it extensively, I found it to be buggy. That is, it produces a result with extensive calculation errors. It was difficult to get Quicken support's attention on this matter. I finally got an answer, after attempting to get a relevant response from Quicken for better than 10 weeks, and it appears the identified bug does not have enough priority to get fixed. If there are greater problems than this one (problems which get the higher priority) I'm a bit concerned about what additional product errors are there which the user is unaware. However, my testing and detailed checking hasn't identified any additional out and out computation errors. I would advise users to check the results from the planning features carefully for reasonableness.
In summary, Quicken Home & Business 2004 seems to be ok for looking back, looking where you spent your money (rear view mirror)... but use caution when looking to the future.
Also, I found technical support much more difficult to use / to get now than it was in past years. I contacted Quicken no less than 8 times and got incorrect and / or bad information from their call center which I expect is Off shored to India based on the three phone calls I had with them. Communication was difficult and frankly two of the individuals who tried to help me didn't understand this area of Quicken at all. I was finally transferred to a very articulate English speaking support person who explained that this bug has been given a very low priority and that it is likely that this bug will not be addressed.
This review sounds more negative that I intended. On balance Quicken is a good software package. Although I am very disappointed that Quicken does not work in this area, I am not aware of any other product that provides this cash flow forecasting capability. I will continue to use Quicken because, other than this feature, I think the software works well and is among the best out there.
Rating:
Summary: Rear View Mirror vs Future Looking
Review: I have been using Quicken since 1994. Only draw back / problem I have had with the product is its lack of "forward looking" capabilities in the area of Budgeting and Cash Forecasting. I was excited about the apparent future looking cash forecast capability of Quicken 2004 Home & Business. However, after using it / testing it extensively, I found it to be buggy. That is, it produces a result with extensive calculation errors. It was difficult to get Quicken support's attention on this matter. I finally got an answer, after attempting to get a relevant response from Quicken for better than 10 weeks, and it appears the identified bug does not have enough priority to get fixed. If there are greater problems than this one (problems which get the higher priority) I'm a bit concerned about what additional product errors are there which the user is unaware. However, my testing and detailed checking hasn't identified any additional out and out computation errors. I would advise users to check the results from the planning features carefully for reasonableness.
In summary, Quicken Home & Business 2004 seems to be ok for looking back, looking where you spent your money (rear view mirror)... but use caution when looking to the future.
Also, I found technical support much more difficult to use / to get now than it was in past years. I contacted Quicken no less than 8 times and got incorrect and / or bad information from their call center which I expect is Off shored to India based on the three phone calls I had with them. Communication was difficult and frankly two of the individuals who tried to help me didn't understand this area of Quicken at all. I was finally transferred to a very articulate English speaking support person who explained that this bug has been given a very low priority and that it is likely that this bug will not be addressed.
This review sounds more negative that I intended. On balance Quicken is a good software package. Although I am very disappointed that Quicken does not work in this area, I am not aware of any other product that provides this cash flow forecasting capability. I will continue to use Quicken because, other than this feature, I think the software works well and is among the best out there.
Rating:
Summary: Loaded with features, hogs RAM
Review: I have used Quicken for home finances for years, and recently "upgraded" from Quicken 2000 to Quicken 2004 Premier Home & Business. This package is loaded with features that allow you to very quickly and completely get a grasp of your finances both numerically and visually. Adding accounts and transactions is a breeze. The system is very intuitive (at least for a user of earlier versions of Quicken)and visually appealing. The importing of the old data file went seamlessly and completely. (Always make a back-up of your database before trying the importation - it may safe you a whole lot of grief.) The negative - you cannot run ANY other program at the same time. Forget multitasking. Period. Even with ONLY Quicken 2004 running, the system frequently gives messages of "Resources dangerously low" and "out of memory", etc. The system often freezes with these warnings and requires a reboot. Quicken seems to be out booting Windows! My system is not the problem - I am running on a Pentium IV 1.3 MHz Windows ME system with 512 MB RAM and 40GB of free hard disk space, far about the recommended requirements from Intuit. The Intuit web site is NOT helpful when it comes to trying to problem solve the memory problems. There basic advice: keep rebooting and remove all other programs from your system. They even suggest going through the process of removing TSR programs before you start Quicken. Everytime! Not very user friendly recommendations. Really! I certainly hope (and expect) that Intuit will come out with a patch that makes this a reliable program. If the memory problems were handled, this would be a 5 star program without question. With the memory problems, my CTL-ALT-DEL keys are getting worn-out! In the meantime, I am torn between putting up with the memory frustration for the added features, or bringing the back-up data file off the shelf and re-installing Quicken 2000 that is more limited but works first time, everytime.
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