Brandon Lee
Quicken is a finance management software that allows users to track expenses, balance bank accounts, and manage investments. While Quicken is primarily designed for the North American market and supports connections with US and Canadian banks, some Australian users have reported using Quicken with Australian banks. However, there are limitations and workarounds involved. Australian users have reported challenges with syncing credit card data and Australian ASX stock with the US version of Quicken. Additionally, the Mac version of Quicken does not support Australian customisations such as Australian banks, GST, and BAS. To use Quicken with Australian banks, users may need to manually enter transactions or use a program to convert file formats. Some Australian users have suggested using alternative software, such as Moneyspire or Reckon Personal Plus, which offer better compatibility with Australian banks and financial institutions.
| Characteristics | Values |
|---|---|
| Quicken for Mac designed for | North American market |
| Currencies supported by Quicken | Multiple |
| Quicken Windows US import file type | QIF |
| Quicken Windows Canadian import file type | QFX |
| Quicken Windows US currency | USD |
| Quicken Windows Canadian currency | Multiple |
| Quicken Deluxe version | Available |
| Quicken Deluxe version compatibility with Australian banks | Not set up |
| Quicken Deluxe version compatibility with Australian shares | Not set up |
| Quicken 2013 Deluxe compatibility with Australian banks | Yes |
| Quicken 2018 compatibility with Australian banks | No |
| Quicken connection methods with banks | Express Web Connect, Web Connect, Express Web Connect Plus, Direct Connect |
| Quicken connection method chosen by | Bank's supported services, user's preferences, and Quicken's relationship with the bank |
| Quicken default date range | YTD, Last Quarter, Last 12 months |
| Quicken alternative for Mac in Australia | Moneyspire |
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What You'll Learn
Quicken for Mac is designed for the North American market
Users in Australia can still utilise Quicken, but it requires manual entry or the use of third-party programs to convert data from Australian banks into a compatible format, such as QIF or QFX. This process can be cumbersome and may not provide real-time transaction updates.
Some Australian users have reported success with Quicken Deluxe, which can be installed on iMacs and used with an Australian address. However, it may not fully support Australian tax requirements or sync seamlessly with Australian credit cards and bank accounts.
As an alternative, Australian users can consider other financial software, such as Moneyspire, which supports Australian users and offers easy migration from Quicken. Banktivity is another option that provides a free 30-day trial and allows users to download transactions from Australian banks, although it also does not currently support Australian tax codes.
It is important to note that Quicken for Mac's connection methods, such as Express Web Connect and Direct Connect, are designed to work with North American banks. While these methods offer convenience and automation for users in the US and Canada, they are not optimised for Australian financial institutions.
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Quicken Windows supports multiple currencies
Quicken Windows does support multiple currencies. However, it does not allow multiple currencies within a single account. Each account must be assigned a single currency. The currency is determined by the one you set when creating the account. Exchange rates apply when Quicken calculates totals across currencies, but they do not change the amounts recorded in individual accounts. Accounts with foreign currencies are tracked in their original values and included in net worth and reports based on exchange rates.
To use a different currency for an existing account, create a new account and transfer the balance manually. You can turn on multi-currency support in Preferences>Calendar and currency.
It is worth noting that the Quicken for Mac version is designed for the North American market and will only work with US and a few Canadian banks. There is currently no version of Quicken for Mac for Australia.
For Australian users, there are some alternatives to Quicken finance software. Moneyspire, for example, supports Australian users, and you can easily migrate from Quicken.
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Manual entry is required for Australian banks
Quicken is a finance software designed for the North American market and primarily works with US and a few Canadian banks. There is currently no version of Quicken for Mac that is compatible with Australian banks. However, it is possible to use Quicken in Australia with manual entry or by using a program to convert files from CSV/Excel to QIF or QFX format.
For example, users can try ImportQIF, a free program that can convert QFX files in different currencies. It is important to note that Quicken Windows Canadian can import QFX files in various currencies, but Quicken Windows US can only import QFX files in USD. Therefore, for Quicken Windows US, the format would be QIF, which does not recognise the currency. The currency is determined by the one set when creating the account.
Additionally, users can try using Quicken 2013 Deluxe for Windows with the US Release R12 Mondo patch. While this may not resolve all issues, such as unicode or short date format problems, it can provide a workaround for using Quicken with Australian banks.
Another option is to use Moneyspire (http://www.moneyspire.com), which supports Australian users and allows for easy migration from Quicken. Moneyspire has links to major Australian banks, eliminating the need for transaction imports.
It is worth noting that Quicken uses different connection methods to download data from banks, including Express Web Connect (Quicken Connect in Quicken for Mac), Web Connect, Direct Connect, and Express Web Connect Plus (EWC+). However, these methods are dependent on the services supported by the bank, user preferences, and Quicken's relationship with the bank.
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Quicken's connection methods with banks
Quicken does not have a version specifically for Australia and Australian banks. The software is designed for the North American market and only works with US and a few Canadian banks. However, there are some workarounds that Australian users have found to connect their Australian bank accounts to Quicken.
One method is to use a program to convert CSV/Excel files to either QIF or QFX format, which can then be imported into Quicken. Another method is to use the Direct Access service offered by some Australian banks, which allows users to download transactions from Australian banks and import them into Quicken. Additionally, some Australian users have reported success with using the US version of Quicken with a US or Canadian Apple ID and address.
It's important to note that while these workarounds may allow Australian bank accounts to connect with Quicken, there may still be issues with syncing credit card data, stock market information, and tax codes. Australian users may also encounter issues with date formats and character sets when importing QIF files from their banks.
Quicken uses different connection methods to download data from banks, including Express Web Connect (Quicken Connect in Quicken for Mac), Web Connect, Direct Connect, and Express Web Connect Plus. These methods vary in terms of how they link Quicken to the user's bank and the level of interaction required from the user. Quicken chooses the connection method based on the services supported by the bank, the user's preferences, and Quicken's relationship with the bank.
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Alternatives to Quicken for Mac in Australia
Quicken for Mac is designed for the North American market and is compatible only with US and a few Canadian banks. There is no version of Quicken for Mac for Australia. However, there are a few alternatives that can be used in Australia on a Mac.
One alternative is Moneyspire, which supports Australian users and allows for easy migration from Quicken. Moneyspire has links to major banks in Australia, which means transactions are already there and do not need to be imported. However, it is unclear if Moneyspire supports Australian tax codes.
Another alternative is Banktivity, which has a free 30-day trial and allows users to download transactions from Australian banks via Direct Access. However, Banktivity also does not currently support Australian tax codes.
PocketSmith is another alternative to Quicken that is available worldwide and supports bank feeds to most financial institutions in Australia. PocketSmith is a cloud-based web app with native mobile companion apps for both Android and iOS. It offers unparalleled flexibility with multiple custom dashboards and reporting options. It also has a dedicated importer for Quicken transactions, making it easy to switch from Quicken.
Money Brilliant is another option, as it has budgeting and reporting features. However, it cannot do split transactions like Quicken.
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Frequently asked questions
No, Quicken for Mac is designed for the North American market and only works with US and some Canadian banks.
Yes, you can use Quicken in Australia, but only with manual entry or a program to convert from CSV/Excel to either QIF or QFX format.
No, Australian credit card and bank account data cannot be synced in real-time with Quicken.
Yes, Moneyspire is one alternative that supports Australian users and allows easy migration from Quicken.
