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OK, I'm building a budget using Quickenonline

January 25th, 2009 at 06:20 pm

Does anyone else here us that? We need to form a user's group if so! I signed up for it last year when it was $3 per month, intending to most likely cancel after the free trial, and then thankfully before I did they made it free! Nice! But it is pretty basic, and I see they've recently made some changes. I remember the old Windows 3.1 version was awesome, everywhere you clicked you could get a subtotal or a graph - really cool! So this online version is not so good in comparison, but I don't want to spring for the regular version just quite yet. So anyway...

It does well with the checking account from my CU. But it can't deal with the Mastercard account from that same CU. I've emailed problem reports to Quicken to no avail, so for now I am stuck with just the checking account, but that's ok, it's the lion's share of transactions anyway.

Job one is to clean up the categories. It is now doing better it seems on automatically categorizing transactions that clear electronically, but the smaller payees like doctors and so forth still need to be manually entered. And bafflingly, it guessed wrong on a few electronically cleared ones, so I wound up with a newspaper bill for $165 this month, but it was really Macy's. Weird! It is consistent though, always calling Macy's the newspaper, so it's easily manually fixed.

What I need to figure out is it says we are overspending by about 20% per month. We may be, but only on one CC, not the bank account, that stays positive with no infusions of cash, so I have to get to the bottom of that right after I finish categorizing to give me more clues.

This is sort of fun in a tedious way. But I can see right now that the four month trend of category spending should be very helpful. November and December spending is off the charts as usual. Frown

4 Responses to “OK, I'm building a budget using Quickenonline”

  1. Blue Eyes Says:

    I also use Quicken Online, but haven't accessed it recently until today. I think I like the other format better, or maybe I just need to get used to it. I still prefer to track my expenses/income on a daily basis with pen/paper (as a back-up means). I've noticed too about the automatic categorizing that is done.

  2. dmontngrey Says:

    It was mentioned on here before and I signed up - just never did anything with it. Things are a little more streamlined now, so maybe I'll try again.

  3. homebody Says:

    I use YNAB for budgeting, but regular quicken for the reports.

  4. ralph Says:

    Man, this is driving me crazy. Even after exporting to Excel, things don't seem to add up, over the periods Oct -Dec, or May-Dec. 08. For the checking account only, it shows a consistent overspend of 10%, but my checking account stays positive with no money coming in from outside, and the balance doesn't vary appreciably. No wonder I never became and accountant! But I'm not giving up until it at last makes SOME sense!

    OK, as soon as I posted this I realized that when the paycheck clears is key, which explains the 3 month discrepancy, but not the 7 month one, but I'll recheck.

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