Money user thinking of converting

Posted by Howie on August 2, 2006, 11:11 pm

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I've used MS Money for nearly a decade but have read some reviews of
the respective 2007 versions and think it might behoove me to swap
teams at this point...

I have read the information on the Quicken website regarding the data
conversion tool and understand there would probably several hours of
time necessary to get everything from my Money files into a new
Quicken data file.

Questions... has anyone following this group recently undertaken such
an endeavor? If so, was the data transfer complete and accurate (at
least the data which is advertised as being transferable)? Any other
thoughts/advice regarding this exercise?

Thanks,

--Howie

Posted by hawks5999 on August 3, 2006, 7:29 pm

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I switched from Money 2004 to Quicken 2005 (because Money 2005 was a
disaster in my opinion). All checking, savings, and credit card
accounts as well as Categories and payess transferred pretty smoothly.
At the time I had no mortgage so I can really speak to a situation
where you have an asset (house) linked to a loan.

The one thing that didn't transfer over correctly was my portfolio. I
had several mutual funds and stocks held in a 401k and Roth IRA. I had
to go back and manually adjust almost all transactions in my portfolio
to have a proper cost basis, etc.

I've since upgraded to Q2006 and will be getting Q2007 once it's
available at the local Costco. Overall, these are the contrasts I
noticed switching from Money to Quicken:

Quicken doesn't hold your hand as much.
Quicken doesn't look as good (although it was the "cuteness" of Money
2005+ that turned me off)
Quicken just feels more powerful.

I think the switch is highly recommended.

Posted by SeaKan on August 4, 2006, 6:07 pm

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>I switched from Money 2004 to Quicken 2005 (because Money 2005 was a

> disaster in my opinion). All checking, savings, and credit card

> accounts as well as Categories and payess transferred pretty smoothly.

> At the time I had no mortgage so I can really speak to a situation

> where you have an asset (house) linked to a loan.

> The one thing that didn't transfer over correctly was my portfolio. I

> had several mutual funds and stocks held in a 401k and Roth IRA. I had

> to go back and manually adjust almost all transactions in my portfolio

> to have a proper cost basis, etc.

> I've since upgraded to Q2006 and will be getting Q2007 once it's

> available at the local Costco. Overall, these are the contrasts I

> noticed switching from Money to Quicken:

> Quicken doesn't hold your hand as much.

> Quicken doesn't look as good (although it was the "cuteness" of Money

> 2005+ that turned me off)

> Quicken just feels more powerful.

> I think the switch is highly recommended.

I've made the switch twice. There is no perfect financial program, imho.
Money does a better job of tracking investments...seeing your overall
picture, I think. But Quicken is easier to use. Six of one, half dozen of
other. I keep Money to look at investments.

>I switched from Money 2004 to Quicken 2005 (because Money 2005 was a

> disaster in my opinion). All checking, savings, and credit card

> accounts as well as Categories and payess transferred pretty smoothly.

> At the time I had no mortgage so I can really speak to a situation

> where you have an asset (house) linked to a loan.

> The one thing that didn't transfer over correctly was my portfolio. I

> had several mutual funds and stocks held in a 401k and Roth IRA. I had

> to go back and manually adjust almost all transactions in my portfolio

> to have a proper cost basis, etc.

> I've since upgraded to Q2006 and will be getting Q2007 once it's

> available at the local Costco. Overall, these are the contrasts I

> noticed switching from Money to Quicken:

> Quicken doesn't hold your hand as much.

> Quicken doesn't look as good (although it was the "cuteness" of Money

> 2005+ that turned me off)

> Quicken just feels more powerful.

> I think the switch is highly recommended.

Posted by Howie on August 6, 2006, 7:49 pm

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On Fri, 4 Aug 2006 18:07:34 -0400, "SeaKan"

>>I switched from Money 2004 to Quicken 2005 (because Money 2005 was a

>> disaster in my opinion). All checking, savings, and credit card

>> accounts as well as Categories and payess transferred pretty smoothly.

>> At the time I had no mortgage so I can really speak to a situation

>> where you have an asset (house) linked to a loan.

>> The one thing that didn't transfer over correctly was my portfolio. I

>> had several mutual funds and stocks held in a 401k and Roth IRA. I had

>> to go back and manually adjust almost all transactions in my portfolio

>> to have a proper cost basis, etc.

>> I've since upgraded to Q2006 and will be getting Q2007 once it's

>> available at the local Costco. Overall, these are the contrasts I

>> noticed switching from Money to Quicken:

>> Quicken doesn't hold your hand as much.

>> Quicken doesn't look as good (although it was the "cuteness" of Money

>> 2005+ that turned me off)

>> Quicken just feels more powerful.

>> I think the switch is highly recommended.

>I've made the switch twice. There is no perfect financial program, imho.

>Money does a better job of tracking investments...seeing your overall

>picture, I think. But Quicken is easier to use. Six of one, half dozen of

>other. I keep Money to look at investments.

Thanks to you both for your insight...

--Howie