Financial Program For MAC

Question

I currently have a Windows XP computer with Quicken 2007 and Quicken works well, especially the one-step update. Scanning the Quicken forum, I find nothing but horror stories from people who have switched from Windows to MAC and then try to convert their Quicken data files from Windows to data files for use with Quicken for MAC on the MAC. I really don't want to buy and run Windows on my new iMac just to run Quicken for Windows. I am buying a MAC to get away from Windows. Can anybody recommend a good financial software program to run on the MAC as an alternative to the Quicken program?

Answer 1

I don't have a recommendation, but may have some perspective for you. I moved from PC to Mac a little over a year ago and made the transition from Microsoft Money to Quicken 2007 for Mac. I do prefer Money to Quicken (at least Quicken for Mac), but I've adjusted to it and it works great for me.
Here are some key points that I consider for the program. Maybe some will resonnate with you:
1) The key thing I use a financial program for is to auto enter bills that I have direct debited and to tell me how much money I actually have left to spend after I pay bills before my next pay check. Money did this very well with a grid and chart. I could look at any given future date (e.g., the day before my next pay check) and get the amount of money that would be left. Quicken for Mac does this, but only with a chart. I just click on the day before my next check and get the amount, but it's not as nice as what I described from Money. Some people say that fewer financial institutions are supported. You can see that this is the case on the Intuit web site where they list the numbers, but I am able to connect with all of my institutions including a local credit union.
2) Quicken requires a password when you open the program and then again when you choose to do the one step download for getting information from your banks. Thankfully, it then uses all of the different passwords for your financial institutions form memory, but I don't understand why the sign-on password isn't enough (or at least make it an option). Quicken has (what could be) a great option to automatically download the latest information based a schedule you set. However, I have this disabled because it then asked me for the Quicken password every time I turned on my computer (annoying). So, I just ask for the download when I balance my books just like I did in Money. This might be the same as in the PC version of Quicken . . . I don't know.
3) Quicken uses many many windows. This can be great if you like to see a lot at once or it can be overwhelming to have 6, 8, or 10 windows open at once. I really like using the Expose feature of the Mac to see my bank web sites along side the corresponding registers. This is much easier to do than in Windows. I keep open my primary accounts, the forecasting chart, and my upcoming bills all of the time and open other windows as needed. I've also browsed the Quicken discussion board and some have suggested enabling the feature that closes an open register when you open a new register. I can see why this would help, but my setup works for me.
4) Quicken 2007 is a PowerPC program (like Office 2004), so it runs in Rosetta in Intel Macs and is a bit slower starting up than other new programs. Once the program is running though, it's not noticeable. However, it bugs me enough that I will be upgrading the Quicken 2008 for Mac as soon as it is available. The same can be said for Office 2008 for Mac.
5) Quicken is currently beta testing a full fledged web based program. When this comes out, it may be for you. I'm enrolled as a tester and do like some of the features, but thus far I wouldn't be compelled to make the switch from a desktop program. I've heard rumors that the next Quicken for Mac will be web only. I hope not, but will evaluate what I'll do when that happens or the next desktop program comes out.
6) I haven't see the Moneydance program mentioned in the other post, but have periodically perused to see if something better existed. I haven't tried anything, but just by the description . . . I've been underwhelmed. I think many of the complaints about Quicken for Mac have to do with the comparison of the PC version to the Mac version, rather than that the Mac version stinks all that much. In terms of support from the program creator, as well as financial institutions, I find it hard to believe that somebody is going to beat Intuit or Microsoft since they are so entrenched in this industry. With that said, I took a quick look at the Moneydance web site and it looks better than the other programs I've looked at. Plus, there is a discussion board to peruse for it's own issues and it has a free fully functional trial version. I might try that myself just out of curiosity, but I really doubt I'll end up switching.
I hope that helps.