I’ve been using Quicken for about 4 years to organize my finances. I chose Quicken because I had no choice, as I had a Mac and all online options were kind of ugly. I was happy with it until last year when it decided to be unable to sync with my WaMu checking account (note that it was able to synchronize with my WaMu savings account that uses the same user name and password). I kept using it for some time until I decided to plan better my finances in preparation to buy a house. Then I got really annoyed by it and decided to try other options.
Oh, I have to note before I continue that I have since moved my Quicken to the Windows version because it had way more features, looked nicer and was the same price.
I haven’t had that much time to try around, but I’ve tried the famous Mint.com, which was pleasant, but certainly had less features and was slower to edit than Quicken. However, it was able to sync with my WaMu without a problem. I tried Quicken Online too, which had even less features than Mint.com and also was able to sync with WaMu.
Then, this evening, I decided to just accept it and install a trial version of Microsoft Money. The installation was very quick and setting up the accounts (except for my Charles Schwab account, which requires calling their support service, apparently) was very easy. But then, when it takes me to the account home page I see that I have one huge expense type: transfers/credit card payments! Huh? If the credit card is listed on their system, isn’t counting credit card payments causing all my expenses to be counted twice (one month apart from each other)?
If you go to the reports section, it’s the same thing. And you have to turn on “advanced reports” to be able to hide this class of expenses, which is very puzzling. There is probably some sort of configuration that I have to enter to make this stop showing, but it’s odd that this seems to be the default behavior for this popular financial management software. I’ll dig a little more into it and find out if maybe I’m missing something quite obvious. Until then… Huh?