Mint.com will get to take Quicken Online users and all their personal finance data. This will happen on August 29. Nobody can go to Quicken Online anymore after that. Intuit, the makers of Quicken, purchased mint.com last year for $ 170 million. All information from the Intuit website was expected to be “migrated seamlessly” to the Mint site considering that is what the message said given to all the Quicken Online users. Because of software differences, users are expected to transfer their own accounts individually. The change from Quicken Online to Mint has actually been pretty difficult.
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. Many thought the transition would be made automatically. But a Tech Crunch report said Intuit later decided the complexity of merging the two platforms precluded achieving the transition with “elegance or accuracy.”. Quicken Online users might end up with personal finance data in Mint that is inaccurate. That would mean more work for the website. 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 site alternatives
August 29 is when Quicken Online users will lose all their information from Intuit. Users who want a record of their transactions must export the data to a file before the site is shut down. You will find other possibilities for Quicken Online users for personal financial data besides switching to Mint, says the New York Daily News. The Quicken Online to Mint program appears to be something Intuit is doing to promote themselves. There are other Quicken desktop products being advertised with this. The Intuit desktop products cost between about $ 50 and $ 90. $ 120 is the price of another option. The account is for Quickbooks online. Online budgeting online websites also consist of GnuCash.org, HelloWallet.com and Yodlee.com, for those who want to quit Intuit altogether.
Intuit now doing hot
Many individuals are having issues. 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 has to go through like it would with a bank or credit card. Business transactions in Quicken Online do not go directly over the Mint. About half of them are just lost in the process. An Intuit representative said 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.
Further 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
