Intuit yesterday announced that it would sell its Quicken unit, the group that creates the personal finance software that made the company famous. The news - and Intuit management's explanation for the sale - illustrated the retreat of personal computer desktop software and the rise in cloud- and subscription-based services. It also distressed users, who wondered whether the banking and investment software would survive, and if not, how they would replace a program they've relied on for years, sometimes decades. On a conference call with Wall Street analysts Thursday, CEO Brad Smith said Intuit would focus on its small business and tax software, represented by and, respectively - both have strong cloud- and subscription-based businesses - and is ditching because, as a strictly desktop product, it has neither. Related: 'As you know, Quicken is a desktop-centric business and it doesn't strengthen the small business or tax ecosystems,' said Intuit CEO Brad Smith in a conference call with Wall Street Thursday.
'Our strategy is focused on building ecosystems and platforms in the cloud. We value our loyal Quicken customers and we're seeking a buyer who will provide the product support and the service they deserve.' 'I expect Quicken to be dead in two years at best,' predicted someone identified as 'rickbee9,' in one of several comments on the about the proposed sale. Others questioned Smith's explanation, saying that Intuit is simply ditching its weakest money makers to make its balance sheet look better.
'It's clear that Intuit is divesting itself of the lowest revenue items, no matter how they spin it,' wrote 'smayer97' on the same thread. 'It is clear that this has nothing to do with which segment classes of products they are keeping vs. They are clearly only wanting to keep the top revenue items.'
The three units Intuit plans to sell - Quicken, QuickBase and Demandforce - accounted for less than 6% of the firm's fiscal 2015 revenue, and just 2% of its net income during the same period. For the last 12 months, Quicken contributed just $51 million to the company's total revenue of nearly $4.2 billion. One indicator of the soon-to-be-sold units' worth in investors' eyes is that not one Wall Street analyst asked a question yesterday about their proposed sale. In a, Intuit asserted that it would find the right home for the personal finance software. 'We are seeking a buyer that recognizes the value of the brand, respects the customers and will invest in upgrading the product and support experience,' said Intuit. 'We intend to run a crisp process, focused on engaging with strong and reputable buyers.'
Quicken 2015/2016/2017 Money Management Free The Quicken Mobile Companion App is a free personal finance app to use with your Quicken 2017 desktop software.
Customers weren't buying that either. 'I love how the CEO is telling you that he can pick a buyer in a way that they will do everything they didn't do,' said 'QuicknPerlWiz'. 'Quicken is 32 years old, and to a developer that usually means code that is really hard to maintain, and that certainly shows.' In many ways, Quicken is software that users love to hate. With years of data in the company's proprietary format - and few alternatives - they not only feel trapped but also regularly rail about the product., the consumer advocacy organization's website, makes for dismal reading: The overall satisfaction rating is one star out of a possible five. 'I hate this program.
I've been using Quicken for many years, and it just gets worse and worse with each update. It is less and less user friendly,' alleged Beverly of Midland, Tex. 'I have never seen a major software company so technically inept and getting worse. Every month there seems to be some new major issue with this software,' griped Bill of Scottsdale, Ariz.
Intuit promised that it would continue to maintain and develop Quicken until it finds a buyer, adding that it plans to release the next edition, Quicken 2016 for Windows, and would keep working on the Mac version. Current users should see no interruption in their ability to use the software or its associated services, such as Quicken Bill Pay. 'As we move through this sale, it's business better than usual,' wrote Eric Dunn, who heads the Quicken unit, in an. 'As a standalone business, we'll focus solely on taking Quicken to the next level. And until we find that buyer, we'll continue to provide you with the dedicated, uninterrupted service and support you deserve.' If Intuit keeps to its usual schedule, it will ship Quicken 2016 in the next several weeks. Quicken 2015, for instance, launched in early August 2014, while Quicken 2014 appeared in early October 2013.
Quicken is one of the oldest desktop products, preceding even Windows. Quicken debuted in 1983, near the beginning of the PC revolution, and first ran on Microsoft's DOS.
To Quicken: Convert transactions to an importable by Quicken format video. To Quicken: Convert transactions to an importable by Quicken format video See below which format your Quicken imports and choose a converter to convert your files to a Quicken importable format. In case your Quicken imports QIF and QFX files, either format has issues and advantages. The same applies to QFX and CSV Mint files. Which file formats does Quicken for Windows import?. Quicken for 2018+ for Windows imports QFX, QIF files and QIF files are 'officially' supported by Quicken.
Quicken for 2016+ for Windows imports QFX, QIF files. QIF files have to be created correctly to be imported. Quicken for 2015 or earlier for Windows imports QIF files only. QIF files have to be created correctly to be imported. Which file formats does Quicken for Mac import?
Import QIF into Quicken 2015, 2016 Check out detailed tutorial how to with categories. QIF format is a great file format to import transactions with categories and tags. Converts CSV and Excel files to QIF format ready to import into Quicken 2017 for Windows, as well as Quicken 2016, Quicken 2015, Quicken 2014 and earlier versions. Also, you can create QIF files for Quicken 2007 for Mac, and other personal finance applications like MS Money, You need a Budget (YNAB), NetSuite, etc.
Important details for successful conversion from CSV to QIF and import into Quicken or other accounting software are the following:. Check that expenses are negative and payments to the account are positive. Some credit card companies supply amounts on CSV files in opposite way (expenses are positive, and credit card payments are negative).
Use “Change +/-” button on the sidebar to reverse the amount signs for the whole file in a single click. Make sure to select correct QIF target (which accounting or personal finance software are you importing into).
Make sure to select correct account type (BANK vs CCARD vs INVST). Make sure to enter the account NAME exactly as you have in Quicken for direct import into that account.
Quicken reads the account name from the QIF file and locates the account before importing. If the account name is not found, Quicken prompts to create new account. Date format is ignored if QIF target is Quicken – Quicken expects only one date format and uses expected format. Quicken 2015, 2016 do not import QIF files directly into bank or credit card account. Use proxy cash account to import your transactions and then move transactions to another account. If you have an Excel file instead of CSV (XLSX or XLS), should be able to open it directly (make sure to close the Excel file in you have it opened in Excel).
You may also open the Excel file in Excel, select transactions, copy them and then click Paste in. If you have PDF file from your bank or converted PDF file to CSV file, try. QFX (Web Connect) format QFX files are Web Connect files and do not carry categories like QIF files. Quicken categorizes transactions after import using the renaming rules or categories can be assigned by the user later.
On Quicken on Mac, make sure to uncheck 'Automatically improve quality of downloaded payee names and categories'. If you have PDF file from your bank or converted PDF file to CSV file, try. CSV Mint format. Quicken 2015+ for Mac only. supports categories.
imports into a new account, needs to select imported transactions and drag them to another account Quicken for Mac 2015+ has a special to import 'CSV Mint' files into a new account. This is a great way to import transactions as you have easily drag transactions in Quicken for Mac 2015+ from one account to another (select multiple transactions and drag them on another account on the sidebar with the account names). What is CSV Mint file?
It is a regular CSV file with certain layout, which Quicken expects to be followed, otherwise it would not import a CSV file. So just any CSV file (or even Excel XLSX or XLS file) would not work. You have open your existing file in Excel and format it to match column as on a CSV Mint file.
Where you can get a CSV Mint file as an example? From Mint.com (duh).
You need to have some data there and export transactions and look at how data is organized and make your CSV or Excel file to follow columns and then save as a new CSV file. Does that work for you - it takes your CSV or Excel file, parses it (allows you to remap it), and saves your transactions as a CSV Mint file that Quicken for Mac 2015+ will import. Nice thing about CSV Mint files is that they allow category column to be supplied (but not subcategory). Convert to the CSV Mint format (for Mac only) Quicken for Mac 2015+ has option to import a CSV Mint file (files exported from Mint web site.
These CSV Mint files are imported into a new Quicken account, but transactions can be easily moved under other account, so CSV Mint is great option to import transactions on Mac as QIF format is not available. CSV Mint have category unlike QFX files.
Convert CSV/Excel files to the CSV Mint format:. Convert QIF files to the CSV Mint format:. Convert PDF files to the CSV Mint format: Additional videos Difference between OFX files and 'Quicken OFX' (QFX) files and confusion over them.