I've wasted two whole days and $50 on 3.0 and 4.0 upgrades on that very question... and NO... there is NOTHING better in either version for Quicken 2005 thru 2009 (I've upgraded out of desparation in the last 24 hours - oh, another $80 spent on this fiasco).
Split transactions still create TWO transactions (as if our bank is going to list it in any way other than the total charge?!)!
In fact, in the 4.0 "upgrade" you actually LOSE a funtion (multiple page scans) that was in 3.0 and you "get" the dumbest thing... an INBOX where all new scans reside until you go thru YET MORE STEPS than in earlier versions... oh, and the INBOX not only takes more steps/clicks but also makes you wait for the process to "file" the receipt into a folder.
I swear the "programmers" don't look at forums because we never get what we ask for (most suggestions are reasonable and seem like simple code edits) and we DO GET stuff that makes the whole NR process TAKE EVEN LONGER!
I don't know how these guys are staying in business, except that they blame everything on Quicken (which I am not a huge fan of, but at least their product does what they claim it does). I've got to make one more call tomorrow morning to get my refund. Tech support seemed just as annoyed as I was because he sounded embarrassed that the only feature improvement he could tell me about was the INBOX.
