I love Excel, it is one of my favorite programs. However, when it comes to keeping track of what is coming in and going out, Quicken wins hands down.
- Easy Reports – I use categories in Quicken and doing so allows me to retrieve reports of all kinds, easily. Quicken can look at the big picture easily.
- Add Accounts – It’s easy to add a new bank account or savings account.
- Export to Excel – I do still use Excel to look at some reports. I don’t believe Quicken allows imports from Excel.
- Download from Bank Accounts – most banks allow the option to download the recent transactions in a Quicken or Excel format. I have done both. In fact at work I download the month in Excel for my boss so she can reconcile the account before the statement arrives by mail. But for my own purposes, I prefer the data to go into Quicken. I approve each transaction one by one, as I usually gather data prior to the date already in Quicken to overlap, to prevent missing any transactions.
While I use Quicken to enter all our transactions, I still use Excel for my overall budget guide. I keep a running list of what bills are due when, and refer to that Excel spreadsheet at the first of the month, and the middle of the month, which is when I pay bills.
Do you use Excel or Quicken? Do you use both like I do? Do you have any reasons to prefer Quicken over Excel that I can add to my list?