Mint.com will get to take Quicken Online users and all their personal finance data. This will happen on August 29. On that date, no one could be able to sign in at Quicken Online. Mint.com was bought by Intuit who made Quicken for about $ 170 million. Quicken Online users got a notification of this change from Intuit. Intuit explained that info including account histories and connections would be “migrated seamlessly” to the Mint budgeting website. Users have to transfer their own accounts because you will find different software programs on the two websites. The Quicken Online to Mint migration has proven to be troublesome and inconvenient.
A ‘boneheaded move’ is what Intuit made
Many users of Quicken were astonished. They didn’t learn about the migration from Quicken Online to Mint. Most thought they wouldn’t have to do anything. They expected an automatic transition. Tech Crunch explains that Intuit was going to have “elegance or accuracy” as part of the change. It changed its mind after seeing what a big change it really was. The possibility for error would give Quicken Online users inaccurate personal financial data in Mint. That would mean more work for the site. Double checking and manual correction would be required by workers. Because of these complications, Tech Crunch called Intuit’s policy a “boneheaded move” and said that Intuit should have given Quicken Online users until the end of the year to move or spend more time figuring out how to import their accounts to Mint.
Budgeting with other sites
August 29 is when Quicken Online users will lose all their info from Intuit. Any users who want to keep their info have to take a couple steps. Make sure you pick which info you would like to save and export it to a file. The New York Daily news talked to those using Quicken Online. The article explained that other personal financial data possibilities are available other than just Mint. Quicken Desktop products that cost you money are what Intuit is trying to sell with the Quicken Online to Mint migration. The Intuit desktop products cost between about $ 50 and $ 90. You are able to get an Online account for QuickBooks for $ 120. Online budgeting sites also contain GnuCash.org, HelloWallet.com and Yodlee.com, for many who want to quit Intuit altogether.
Intuit can’t count
Many individuals are having troubles. Most of this comes from the migration from Quicken Online to Mint. The Street has Jonathon Blum speaking. He says that Mint and Quicken Online were never meant to get along with one another. Because of the different software platforms, Quicken Online data doesn’t flow directly into Mint. Data comes in differently. It is the very same as data coming from a credit card or bank. Business transactions in Quicken Online don’t go directly over the Mint. About half of them are just lost within the process. An Intuit representative said that the migration system made data converted from Quicken Online to Mint ledgers 90 percent accurate. Blum has his own opinion on the matter. Only 90 percent means a failing grade with accounting.
Additional reading
Tech Crunch
techcrunch.com/2010/07/19/quicken-online-users-saw-the-bait-took-the-switch-to-mint-com-and-are-left-with-nothing/
New York Daily News
nydailynews.com/money/2010/08/20/2010-08-20_quicken_online_free_budgeting_site_to_shut_down_by_september.html
The Street
thestreet.com/story/10841504/1/quickens-migration-to-mint-is-not-so-fresh.html?cm_ven=GOOGLEFI
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