Quicken® 2010 For Dummies®

Chapter 2. Introduction to the Big Picture

In This Chapter

• Distilling Quicken to its very essence

• Setting up additional bank accounts

• Adding, removing, and modifying categories

• Understanding tags

Before you spend a bunch of time and money on Quicken, you have to understand the big picture. You need to know what Quicken can do. You need to know what you want to do. And, as a practical matter, you need to tell Quicken what you want it to do.

Boiling Quicken Down to Its Essence

When you boil Quicken down to its essence, it does six things:

• It lets you track your tax deductions.

  This feature makes preparing your personal or business tax return easier for you or your poor accountant, Cratchit.

• It lets you monitor your income and outgo either on-screen or by using printed reports.

  Usually, this stuff is great fodder for discussions about the family finances. And, if you're running a business or investing in real estate rental properties, this income and expense information becomes more than just great conversation fodder — the information helps you better manage your business.

• It lets you print checks (and sometimes other forms, too).

  This device is mostly a timesaver, but it can also be useful for people who are neat freaks.

• It lets you track the things you own (such as bank accounts, investments, and real estate) and the debts you owe (such as home mortgage principal, car loan balances, and credit card balances).

  These things are really important to know.

• It helps you make better personal financial ...