If Quicken 2001 Deluxe is to be your introduction to Quicken products, this is a great version to start with. As a new user, you will soon learn to appreciate Quicken for its excellent management of the tasks you do most often – banking, bill paying, and compiling reports. This Deluxe Version of Intuit's money management software focuses on seven key areas of your personal finances: banking, investing, taxes, planning, loans, insurance, as well as spending and saving. The ease with which Quicken manages and reconciles your bank and credit card accounts makes this software worth the investment. As a new user, you would be wise to allot adequate time to learn Quicken's procedures. The learning curve of Quicken 2001 is not steep, but it requires a substantial amount of time. For best results, each section should be mastered to maximize the benefits of the program. Quicken 2001 Deluxe is definitely worth the time and money invested for a new user.
If you are already a disciple of Quicken, your questions may be, "What's new in Quicken 2001?" and "Should I consider an upgrade?" Quicken claims there is enough value in this version to justify the upgrade expense. You will need to balance your needs with Quicken's new features to determine this for yourself.
I would characterize this edition of Quicken as pro-active. This new version is persistent; it stays busy reminding you of bills and sending out alerts. Quicken 2001 Deluxe uses your past payment history to project repeated bills, both those due and those coming due. Quicken's latest bill management program integrates with your register to let you set up bills and recurring payments and deposits. You, however, stay in charge, by choosing to accept or reject suggestions and/or turn off the reminders.
Over thirty new investment performance indicators offer the option to customize any report format. For example, stock performance can be tracked year-to-date over the last 1, 3, or 5 years. The "Smart Reconcile" feature can now identify the exact month's statement containing a discrepancy so that a correction is easy.
I am a long-time Quicken user, having worked with every version since Quicken's inception in 1984. Intuit has successfully used its years of experience to improve, expand, and fine-tune the Quicken program. This experience has led to such conveniences as being able to sort registers by clicking on column headings, clever preset report formats, and great ties with Intuit's TurboTax. A closer interaction with the Internet allows you to download your banking activity directly into Quicken and significantly cuts down on data entry time. All the pieces of your financial plan are summarized on a single screen. Activity lists provide a more organized access to Quicken features and easier navigation.
Quicken works online with over 1,000 financial institutions. The tighter Internet integration of this new version allows you easy online access to data from your checking, savings, money market, credit, or charge card accounts. You can also transfer money online and send e-mail to your financial institution. These features require Internet access and additional fees may apply; my bank charges a fee. Services vary among financial institutions.
If you are a Quicken user with a 401K, an upgrade to 2001 Deluxe may be for you. There is no need to wait for a printed report from your 401K company. You can download 401K information that will include data on your vested and total holdings. The 401K Advisor feature will suggest recommendations based on your personal situation.
Capital gains hindsight is usually 20/20. How often have you wished you had done something smart beforehand to dilute a capital gains situation? Quicken's improved Capital Gains Estimator supplies you with an estimate of capital gains. Test different scenarios to see the effect on that particular tax bracket and make more knowledgeable tax decisions.
On the practical side, if you are already a Quicken user, upgrading is easy. In our testing, all data automatically transferred to the 2001 version without hassle. One caution, be sure to check out the system requirements; they may have changed since you last purchased a version of Quicken.
If you are worried about security, especially online security, Intuit states that privacy and the security of your financial information are top priorities for their company. Intuit assures users they can bank online with confidence. Great technical support is offered. In the program itself, there are over 2,000 help topics. The technical support site has been reorganized to help users get technical answers faster and easier.
The most insightful concept I found in Quicken's information was the statement, "Tracking is your financial past, while planning is your financial future." Quicken is a recognized expert at categorizing and tracking payment information and projecting the future based on that information. This latest edition, Quicken 2001 Deluxe, seems to be even better at organizing your personal finances, alerting you to opportunities and problems, and using the wealth of information from the Internet to offer planning assistance. You will have to decide if you are willing to pay an additional $59.95 for these bells and whistles. Certainly if you have a 401K, anticipate capital gains, or need advanced reporting capabilities, Quicken 2001 Deluxe will be worthwhile.
