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HOWEVER - you cannot import the data directly from 2004 to 2007. You can import from Quicken Essentials to Quicken 2007, so what one has to do is to first buy, install Essentials, convert the Quicken 2004 data to Essentials, then buy and install the Quicken 2007, then import the Quicken Essentials data into Quicken 2007.

I have very simple accounts in Quicken, so this might not work for more complicated data. But I was able to export my data as a QIF file from Quicken 2001, and then import it directly into Quicken 2007. It was a little more time consuming because I had to export each account separately, but it worked fine - everything imported OK, even my split transactions. However, I just have basic bank/credit accounts, no investments or anything like that.

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