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Posted by sharx35 on February 19, 2008, 1:14 am
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> PortStG@nospam.invalid wrote:
>> On 14 Feb 08 wrote:
>>> Quicken is discontinuing support and functionality for Quicken 2005. Is
>>> there any other program that can read Quicken files (I don't want to
>>> loose existing work) and can download account information from banks and
>>> credit card companies?
>>
>> Sorry, I can't answer your question(s). But I have one of my own.
>> Am I the only Quicken user that prefers to NOT download their
>> Bank/Broker/CC data? I mean, by doing that, don't you eliminate the
>> whole point of the "Reconcile" function? I like to know my
>> bank/broker/CC hasn't screwed up and reconciling my account(s) each
>> month is the way I do that. It only takes a minute. And please don't
>> tell me they don't make mistakes. The reason I know they screw up is
>> because I *don't* just download their numbers without reconciling them
>> to mine.
>> Or maybe I'm missing something?
>>
>> Port
>>
>
> I download all of my accounts, and examine each transaction when it is
> downloaded. That is the way the download function works. The transactions
> appear in a smaller window below the register window. You can accept them
> all or each one individually, or you can edit them if needed.
>
> This lets me catch potential problems quicker. It adds insurance that if
> someone stole a credit card number, I'd be aware of it very quickly. It
> let me catch a double charge to my credit card by my dentists office on
> the day after it occurred. It also prevents typographical errors which
> used to account for almost all of the lost time during reconciliation. In
> addition, it keeps me informed of dividends, splits, and any other
> transactions that I didn't initiate.
>
> I also reconcile my accounts when the statement arrives. All of my
> accounts download in less than 3 minutes a day. Reconciliation which used
> to occasionally be painful usually takes two minutes or less.
>
> I've been using financial software since MYM in the late 80's. I think it
> was about $150.00 at the time. I've done manual entry, and my finances
> were a lot simpler then. With the addition of investment accounts, IRA's,
> and multiple bank accounts, I'd definitely not want to go back to manual
> entry.
>
> ---
> Jim
I have ONE joint checking account. No need for any more. When my wife and I
married, we also "married" all of our assets..no need to obsessively keep
everything separate.
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