Saturday, August 26, 2006

Upgrade To Quicken 2007

I have been using Quicken to track my investments for a while. After started with Microsoft Money, I switched to Quicken in 2003. Ever since, Quicken has been my favorite (though I also use Excel spreadsheet). Currently, I use Quicken to track investments, bank accounts, credit cards, and loans.

For the 2007 version, the most noticeable change is the interface, a much nicer home window. The startup window now shows the balance of the current month: the income, the expenses, and the remains. The data are extraced from transactions doweloaded from banks and credit cards.

Other improvements over the 2006 version which I used before the upgrade include:

  • Better graphical presentation of charts;
  • Detailed cashflow information;
  • Local business rating with Zipingo.
However, the income and expenses numbers reported by Quicken shall not be taken as they are. I was shocked when I first saw my 5-figure income and expenses. Apparently, Quicken treats any deposit at my banks as income, even those transfered from my other banks. Equally, it reports all withdraws as expenses including those that are actually moved from one bank to another. This way, both the income and expenses are inflated, though the balance is not affected.

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