I heard that my Intuit Quicken 2007 which I use for balancing my checkbook and other business accounts won't work on Lion. Is that true? I am so dependant on it that I have postponed my Mac's OS upgrade to Lion. What can i do to work around this issue?
No, Quicken will not run or work at all under Lion, since Quicken was designed as a PowerPC app, which relies on "Rosetta" emulation (built in to OSX, but no longer present in OSX Lion) to work.
For more info, go here.
At the moment, you should wait until Quicken is updated to Work under Lion, or if you can get by with "Quicken Essentials" (which does work under Lion), you could use this instead.
Unfortunately, no. Quicken 2007 requires Rosetta which Apple has decided to leave behind in their OS. MacWorld.com has a great article here with some great alternatives, but right now, you need to either give up Quicken 2007, or wait on Lion until you are ready to do so.
Dual booting is also possible, but it's not a convenient solution to just run banking software.
fwiw, I moved to iBank, and love it. It handles transfers between accounts much better than Quicken ever did. It's really mac like, and helps me at tax time. There are a number of others as well, and many have great Quicken import capabilities.
I've never looked back, and converted accounts from 1991 to iBank with ease.
Hope this helps.
If you need the features of Quicken and want to move to Lion, your best alternative is to install a Windows virtual machine (Parallels, VMware, Virtual Box) and covert to Quicken for Windows. That's a lot of complexity and at least a couple of hundred dollars to do so you need to be really sure that Quicken is worth it compared to the alternatives.
There's no indication that Rosetta will ever come back nor that Quicken will update Quicken for Mac so waiting for one of those to happen is just wasting time.
I solved this one temporarily by setting up an old Mac Mini as a monitor-less server with Snow Leopard and Quicken installed. It sits on a shelf out of the way. When I need to use Quicken, I use screen sharing to log in from my main computer. It is somewhat less awkward and a little quicker than rebooting from a separate partition.
It would be nice to have a real update, but there appears to be faint hope of that.