Chapter 5: Recording Banking Transactions 93
Recording Cash
4. In the “Name this account” box, type a name for your pocket money account,
and then click Next.
Quicken fills in the “Name this account” box with Cash Account, which is a
great name as long as you have only one cash account.
5. In the last screen of the Quicken Account Setup, in the Amount box, type the
value of your bills and loose change, and then click Done.
Pull out your wallet, count your cold cash, and type the total into the Amount
box. Quicken sets the “As of Date” box to today’s date, which is exactly what
you want.
That’s it. You’re ready to track your cash spending.
Cash Tracking for Photographic Memories
After you create an account for your cash, you can start recording your cash trans-
actions in it. Here’s the rigorous way to track cash spending:
1. When you withdraw money from the ATM, the drive-through window, or even
inside at a teller window, record the withdrawal as a transfer to your Quicken
cash account.
The transfer reduces the balance in your checking or savings account and
increases the amount of money in the cash account.
2. Every few days, record transactions in the cash account to reflect what you’ve
purchased—cappuccinos, video rentals, or that tasteful tattoo—as shown in
Figure 5-8.
When the balance in the Quicken cash account matches the money in your wallet,
you’re all set.
Note: You can even reconcile your cash account in Quicken to the cash you have in your wallet (see
page 354). If you actually do that, though, you may need counseling for obsessive financial tracking.
Figure 5-8:
The Ref field (circled) in a
cash transaction is
optional. You can type a
receipt number or other
identifier there.

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