Quicken 2009: The Missing Manual

Chapter 3. Setting Up Accounts

If you created accounts in Quicken’s Setup Center as described in Chapter 1, you already have one or more accounts in Quicken and a basic collection of categories you can use to track your finances. That arrangement is enough to start using Quicken as an electronic checkbook, but it’s only the beginning. To make the most of Quicken’s planning, tracking, and analysis tools, you’ll want to create additional accounts in Quicken to go with all your real-world savings accounts, credit cards, investment accounts, and assets.

This chapter describes Quicken’s different account types and shows you how to set up new accounts as well as manage existing ones. It also introduces you to the difference between accounts and categories (a handy classification system Quicken uses to help you track different types of income and expenses), so you know how the two work hand in hand. Armed with this knowledge, you can keep your Quicken records up to date as your financial needs change over time. For example, whenever you switch banks, succumb to a fabulous credit card offer, or take out a home equity loan to get your mobile dog-grooming business going, you’ll need a new Quicken account. Chapter 4 gives you in-depth coverage of how to set up and get the most out of Quicken categories.

Note

Sometimes, the arrival of a new person or business in your life means you need an additional data file; see the box on Creating a New Data File to learn how to create one.

How Accounts and ...