Mike Lowe
01-15-2009, 03:42 AM
Just got Quicken 2008, heard the '09 one was a bit buggy yet...Anyway, I had a few questions. I'll likely have more so if you're experienced with Quicken I'd love to hear your expertise! This is a terrific program but it's a bit overwhelming at first!
1) What is the best/proper way to label each transaction so that it is not tedious and so that it continues to update the same way Quicken interprets it from my bank's website?
2) How can I specify transactions, such as advances from an overdraft protection account, to NOT turn up as income? Technically, this is money I have to pay back and it is not income. Is it just as simple as the two cancel out when I pay them? That's fine, but my concern is that it makes my savings/month amount inaccurate
3) How should I be categorizing/labeling money that is transferred from checking into savings? It defaults into the CHECKING ACCT category but is that right? Is this labeling coming or going?
4) Should I be labeling EACH transaction individually? Is this best done in the calendar? Is this normal? Will Quicken remember? What if one time a purchase from a store is a household item and another time it is a gift? What will Quicken use as the default?
Thanks, I'm sure I'll have more along the way. I greatly appreciate this as the wife and I begin her retirement funds (while increasing mine) and we begin to get into stocks etc.
1) What is the best/proper way to label each transaction so that it is not tedious and so that it continues to update the same way Quicken interprets it from my bank's website?
2) How can I specify transactions, such as advances from an overdraft protection account, to NOT turn up as income? Technically, this is money I have to pay back and it is not income. Is it just as simple as the two cancel out when I pay them? That's fine, but my concern is that it makes my savings/month amount inaccurate
3) How should I be categorizing/labeling money that is transferred from checking into savings? It defaults into the CHECKING ACCT category but is that right? Is this labeling coming or going?
4) Should I be labeling EACH transaction individually? Is this best done in the calendar? Is this normal? Will Quicken remember? What if one time a purchase from a store is a household item and another time it is a gift? What will Quicken use as the default?
Thanks, I'm sure I'll have more along the way. I greatly appreciate this as the wife and I begin her retirement funds (while increasing mine) and we begin to get into stocks etc.