Quicken Deluxe Review

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Review of Quicken Deluxe Version 7: by Rajesh Tahiliani; El Paso Macintosh User Group; www.epmug.org; The latest version of Quicken, Quicken 7, is an excellent financial management software package to have. Although a few extra MB's of memory are needed, the Deluxe edition has a few video clips that provide an introduction to the feature you have chosen. The regular edition doesn't have this. On launching Quicken, the user has the option of choosing any one of five different sections: Banking, Investing, Assets/Debts, Planning, Reporting.; These are all listed vertically on the left. Any section you choose produces its own list of other related options, listed horizontally along the top. Although several options are available in each section, I will discuss only two from each, to keep things simple.; The Banking section, for instance, has (among others) Checks and Registers. The Checks option lets us write different checks, which we can either print and mail manually or electronically (on line capabilities are needed, though). The Register looks just like your checkbook register, and every time a transaction is entered, it automatically updates your register, just as we would. Although reconciliations are possible, it isn't possible to change your 'beginning balance' that you had specified when you started the register.; The section on Investing has a 'quotes' option (you'd have to go online) and a Mutual Fund Finder. The Mutual Fund Finder gives you different choices (e.g. no-load vs. commissions) to help you decide on the kind of Mutual Fund you would like to invest in. With so many mutual funds out there, isn't it good to be able to narrow down the list somewhat?; The Asset/Debts section does an excellent job of assessing 'Home Inventory' and 'Net Worth' in addition to, of course, other features. Using the Home Inventory option, you can account for virtually everything in your home and determine both, the current and replacement value of the item. In most cases, not only the item, but values too are listed. The Net Worth section will help you determine, you guessed it, your net worth! Quicken does this after you enter information about your income, loans, other assets and debts, etc.; Planning. Who can afford to do without it? An entire section is devoted to financial management and planning. The Debt Plan option helps you to determine how quickly you can become debt free, the finance charges that will apply under your current plan, how you can save on other expenses, and by increasing your monthly amount kept aside for debt reduction, how much sooner can you become debt free. In the process how much more can you save on finance charges. An excellent feature. I believe, though, that this has now become a fairly common feature and easily found elsewhere. The Retirement option includes information on different ways to save money by investing.; The different types of investments are also explained. The drawback here is that every time you choose an option, to exit that feature, you have to click anywhere in that window. Although simple, it's something most of us probably cannot just guess.; The Reporting section allows you to summarize different aspects about your financial situation. You could produce just a simple report, or have Quicken present everything in a graphical manner. Or both.; The video clips are good, but their presence isn't obvious. One has to almost 'stumble' upon them. Unless, of course, you choose Quicken Basics from the Help menu (top right hand corner). I found that out by reading the manual. Frankly, which Mac user wants to read the manual? Do Mac users even need to read their manuals?; Overall, though, Quicken 7 Deluxe edition is excellent! Also, at the special user group price, you are bound to get your money's worth. Would I recommend it? You bet!; Editors: If you use this article, please send a copy of your newsletter to:; Editor, Amigo Border Connection; P.O. Box 220583; El Paso, Texas
79913-0583
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