Before updating to Mac OS X Lion, users of all versions of Quicken for Mac (prior to Quicken Essentials) MUST export their data so that they may import it to new software, whether Essentials, iBank 4, or any other app, according to the folks at Intuit (

Updating to Lion without extricating one’s Quicken data first will mean that it is trapped in an app that won’t launch. Quicken is personal finance software.