Testing Quicken Business and Personal (Simplifi) - coming from Wave - initial feedback

Jack Malin

I am testing B&P to see if I can/want to move from Wave Accounting.
I was a loyal Quicken user decades ago, but stopped when Intuit was not really keeping it current. Used various others including Quickbooks, Xero and more sophisticated.
Main motivation to switch is downloading from Fidelity and Schwab (our main providers). We have lost hope that Wave will ever support them.
We have both personal accounts and some business entities.
Some initial feedback (limited experience, but wanted to provide initial feedback):

1. In signing up did not realize that I was signing up for one year and not for one month. It was not a big expense, given current discount, still left a bit of a sour taste. Be more clear.
2. Pricing structure of single fee for personal and up to 10 entities is good and attractive.
3. Initial setup was very easy. Financial institutions connections fast, efficient, no problems. Very good.
4. Generally good user interface. Access panel on the left to various entities and accounts is effective. It can get a bit busy, more good than bad.
5. Areas for improvements, at first look:
   1. Rules need to be account (or business) specific. For example same provider may provide slightly different services to different businesses and/or to personal and businesses. With current, rules really don't work in a situation like that.
   2. Support for form 1065 seems lacking. I was not able to map to proper schedules under 1065 and not able to just say 1065, without more specifics. Not that critical.
   3. Having a single bucket of Categories does not work very well if one has multiple businesses. Ideally a separate Chart of Account for each business would be better (at least as an option). Not a deal killer. Maybe to start, just separating Personal Categories and Business Categories (putting them under different tabs) would make it easier to manage.
   4. Excluded from Reports and Spending Plan (which seems to be the default) is confusing. It does not seem to mean that is excluded from Business Reports. Probably you mean Excluded from "Spending Reports and Plan". Still trying to figure out.
   5. Tracking tax lots for securities would be nice. I do't believe it is possible now.
   6. Ignoring cash transactions in the core account at Fidelity (buying/selling from Money Market in core account) would be really very nice. Otherwise it is a bit of a pain.

Generally a very good impression and pretty quick to start using and experimenting.

Thanks for listening.

Coach Natalie

@Jack Malin, thanks for sharing your feedback!

I think some of your suggestions would be great to have as Idea posts! Idea posts allow other users to vote on your idea. Here are our existing QBP Idea posts, in case you want to look through them and add your vote to any that you're interested in: https://community.simplifimoney.com/categories/quicken-business-personal-feature-requests

And then you can also create your own Idea posts for each suggestion you have:

https://community.simplifimoney.com/discussion/998/creating-and-voting-for-ideas-in-the-community

Otherwise, let us know if you need assistance with anything as you continue setting up!