Quicken Alternative - Again

DunellenGuy

macrumors newbie
Original poster
Apr 3, 2014
4
0
Dunellen
I've read several earlier threads about Quicken alternatives on the Mac, but I'm hoping that someone can help with one specific question. Background is that my Windows PC died and I've replaced it with a MacBook Air, which I like quite a bit. But, when I discovered how limited Quicken Essentials is, I started to freak out. Not only do I have close to 20 years of financial data in Quicken, but I use it weekly for paying bills and tracking my accounts.

I've tried iBank and Money Dance, and each has its strengths. Unfortunately, neither one does one of the most fundamental and time saving functions in Quicken which is to automatically reconcile my checking account to my online balance. Each wants me to enter a balance from a statement, and I don't even get statements anymore.

Does anyone know a Mac app that includes this function? Or, do you know a good workaround?

One of the reasons I stayed in the Windows world so long is that I was afraid that I'd have to sacrifice functionality for style, and now I'm afraid that I was right.

-Jeff
 

Weaselboy

Moderator
Staff member
Jan 23, 2005
29,306
8,950
California
I'm not sure I understand what you mean by "automatically reconcile"?

iBank does sync up with your bank and will show which transactions have cleared the bank (screenshot). Beyond that, I don't know how you can reconcile without entering an ending balance from a monthly statement

I suppose you could just use the downloaded "matched" transactions and never reconcile at all. You can see that the iBank balance matches your bank's web site balance and if that matches you are effectively "reconciled."

How was Quicken doing this reconciliation automatically?

 

DunellenGuy

macrumors newbie
Original poster
Apr 3, 2014
4
0
Dunellen
I'll try to clarify!

With Quicken for Windows, I click on "Reconcile."

The next option is whether to reconcile from a bank statement or an online balance.

I click on "online balance" at which point a window opens showing all of my as-yet unreconciled transactions, with check marks beside those that match what's in my register. Usually it's perfect with no differences and I check "Finished" and my account is fully reconciled.

Since I don't actually get bank statements anymore (I do everything online), I'm not sure how I would reconcile accounts since I don't have an "ending balance" from a statement.

Maybe I'm just dense, but I'm also eager to learn :)

Jeff
 

Weaselboy

Moderator
Staff member
Jan 23, 2005
29,306
8,950
California
I'll try to clarify!

With Quicken for Windows, I click on "Reconcile."

The next option is whether to reconcile from a bank statement or an online balance.

I click on "online balance" at which point a window opens showing all of my as-yet unreconciled transactions, with check marks beside those that match what's in my register. Usually it's perfect with no differences and I check "Finished" and my account is fully reconciled.

Since I don't actually get bank statements anymore (I do everything online), I'm not sure how I would reconcile accounts since I don't have an "ending balance" from a statement.

Maybe I'm just dense, but I'm also eager to learn :)

Jeff
Ah... I think I see what you were doing with Quicken. What was confusing me is how Quicken would know your ending balance, but it appears it does not. It looks like it just grabs the current balance with today's date and reconciles with that. iBank can do the same thing, but it won't auto pull that amount in... you would need to login to your bank's web site and get today's balance.

Then enter today's balance and today's date in close balance and close date in the reconcile screen below then click okay. After that a screen comes up much like what you described in Quicken with everything in that date range auto checked and you just okay it.

 

rj6551

macrumors newbie
Dec 27, 2013
3
0
Oregon
Quicken replacement

I use MoneyWiz. I like it because it also has an iPhone and Ipad version that syncs across all devices. When you download transactions it will automatically reconcile them against open transactions.
 

zipur

macrumors 6502a
Mar 3, 2011
583
73
The great state of Texas
I had the same exact issue I need the Q. Here is what I did. I picked up a copy of parallel. I then loaded windows UNDER parallel. Now I use quicken for windows on my MACBOOK life is good!
 

porthole2

macrumors member
Feb 26, 2014
68
0
Been using quicken since day 1 and have about given up trying to find a Mac alternative.

iBank got the best reviews, but I got turned off by the $40 a year charge to download your information.
Looks like I will be sticking with Q running under Parallels for awhile yet.
 

FoxFifth

macrumors 6502
Oct 18, 2012
262
2
Been using quicken since day 1 and have about given up trying to find a Mac alternative.

iBank got the best reviews, but I got turned off by the $40 a year charge to download your information.
Looks like I will be sticking with Q running under Parallels for awhile yet.
You can download transactions with iBank with no charge from iBank. The $40 option is a new thing, exclusive to iBank, that automatically downloads a new transaction in the background with no user action required.

The type of download that Quicken has historically offered is available for free from iBank. I use that and it works perfectly.

More information on the types of downloads iBank has is in the following link. Note that the free download that works almost identically to the download Quicken has is the first one (Direct Downloads/OFX) and that the new one that they charge for is the last one (Direct Access). http://www.iggsoftware.com/ibank/connectivity.php
 

AllergyDoc

macrumors 68000
Mar 17, 2013
1,556
3,427
Utah, USA
I use MoneyWiz. I like it because it also has an iPhone and Ipad version that syncs across all devices. When you download transactions it will automatically reconcile them against open transactions.
I use MoneyWiz as well. While I was a QuickBooks user for years, I never came close to needing or using its many feature. MoneyWiz does everything I need for home and (very) small business use.
 

porthole2

macrumors member
Feb 26, 2014
68
0
Guess I didn't see the "non pay" download, said screw that and uninstalled the app. Guess I'll have to give it another try. Making a move from Quicken will be tough though.


You can download transactions with iBank with no charge from iBank. The $40 option is a new thing, exclusive to iBank, that automatically downloads a new transaction in the background with no user action required.

The type of download that Quicken has historically offered is available for free from iBank. I use that and it works perfectly.

More information on the types of downloads iBank has is in the following link. Note that the free download that works almost identically to the download Quicken has is the first one (Direct Downloads/OFX) and that the new one that they charge for is the last one (Direct Access). http://www.iggsoftware.com/ibank/connectivity.php
 

Weaselboy

Moderator
Staff member
Jan 23, 2005
29,306
8,950
California
Guess I didn't see the "non pay" download, said screw that and uninstalled the app. Guess I'll have to give it another try. Making a move from Quicken will be tough though.
You will see it in this screen. When you go to add a new bank account you get the window where you search for your bank... then pick your bank and click next and you get this.

The top Direct Access option is the paid one and the middle Direct Download is free.

I am an iBank user since V4, but IMO they have done a horrible job explaining this. You are not the first to be confused about these options. Just about every thread here I see iBank mentioned I see posts along the lines of "screw this... I am not paying on top of the app price to download my bank transactions." I suspect iBank has missed out in a lot of new customers because of this confusion.

 

aristobrat

macrumors G5
Oct 14, 2005
12,248
1,319
Since I don't actually get bank statements anymore (I do everything online), I'm not sure how I would reconcile accounts since I don't have an "ending balance" from a statement.
That's interesting, you can't pull up your statements online?

I've been doing everything online too, but I can't think of any account I've ever had that wouldn't let me download a PDF of the same statement that they used to mail to me monthly. It includes the start date, start balance, end date, end balance, and every transaction. :confused:
 

ApfelKuchen

macrumors 68040
Aug 28, 2012
3,181
1,853
Between the coasts
I'm on iBank. I don't bother with the Reconcile feature at all. I import transactions at least weekly, and that's as good a stand-in for Reconcile as I need. Effectively, it's reconcile-as-you-go.

As long as the account balance in iBank and the current bank balance agree when I'm done importing, the job is done. If it isn't, then I start bird-dogging the discrepancy, just like I would for a formal reconciliation.

For my business, I use Quickbooks Online, and do a formal, month-end reconciliation. In that environment, it's essential. But my personal finances are far simpler, and I'm the only person involved.

Intuit is not a Mac-friendly company, period. The Windows versions of both Quicken and Quickbooks are far superior to the Mac versions - always have been. Since I started using Quickbooks Online I've learned that they also don't bother testing the online version in Safari (I've submitted bug reports, and the "fix" is, "Use a different browser").
 

Sital

macrumors 68000
May 31, 2012
1,844
338
New England
I'll try to clarify!

With Quicken for Windows, I click on "Reconcile."

The next option is whether to reconcile from a bank statement or an online balance.

I click on "online balance" at which point a window opens showing all of my as-yet unreconciled transactions, with check marks beside those that match what's in my register. Usually it's perfect with no differences and I check "Finished" and my account is fully reconciled.

Since I don't actually get bank statements anymore (I do everything online), I'm not sure how I would reconcile accounts since I don't have an "ending balance" from a statement.

Maybe I'm just dense, but I'm also eager to learn :)

Jeff
Just go online to view the statement and get the ending balance? Or you can have them emailed to you if you're paperless.
 

Fishrrman

macrumors P6
Feb 20, 2009
17,398
5,634
The OP wrote:
[[ Each wants me to enter a balance from a statement, and I don't even get statements anymore. ]]

I suggest you contact your bank, and request that they start sending you a printed-out monthly statement again.

They pay for the postage stamp.... right?
 

laserfan

macrumors member
Jul 13, 2012
60
0
There are no good alternatives.

I purchased crossover (http://www.codeweavers.com/products/crossover-mac/) and run quicken. Easier than having a VM running just for an application.
I'm confused about how Quicken is installed. At codeweavers they say "go to the application's page in the Compatibility Center and install it [Quicken] from there". Can't be that they give-away free Quicken--at what point is the customer's Quicken cd-rom disc invoked, and what if your Mac has no disk drive?

I ask because my friend is about to install Windows on his iMac using Boot Camp, solely I believe because of Quicken. Crossover looks like it might be a good alternative for him, but his iMac has no disc drive at all. Can Quicken be installed from an .iso file like Windows? Or is there an "iso-mounting" program for the Mac as there are many for Windows?
 

zone23

macrumors 68000
May 10, 2012
1,965
739
I've never found a good solution for this. Fortunately I just run quicken on my work pc. I also have parallels and windows installed so if I need to I can always load it up. I sync the quicken file to dropbox. I do have quicken for mac but its not the same as its windows cousin.
 

RUGERMAN

macrumors regular
Jun 12, 2010
189
9
Statements

All my statements are available on line, very easy to reconcile

The OP wrote:
[[ Each wants me to enter a balance from a statement, and I don't even get statements anymore. ]]

I suggest you contact your bank, and request that they start sending you a printed-out monthly statement again.

They pay for the postage stamp.... right?