Online Account Access
It would take the most dedicated of users to use Quicken without
setting up their main bank account to download transactions. While
it is possible it can become quite a tedious chore. Major financial
institutions allow for online banking and the download of
transactions. This is true of most major credit cards. To simplify
and reduce the chance for missing a transaction downloading is
really the best method. Ensure you are registered for online banking
with your financial institution before proceeding through this
section.
The first method of downloading into Quicken is to initiate
the transfer from your banking website. Simply log into your online
banking webpage and find the area where you can download
transactions. If you have problems finding this contact your
financial institution. When you have found the DOWNLOAD area ensure
you have Quicken running. Also don’t forget to check the dates of
the transactions to be downloaded. There is usually a choice to be
made on the file format. You may see CSV, Microsoft Money, Quick
Books, and Quicken to name a few. Obviously we are using Quicken!
Once you initiate the download Quicken will pop up and ask you to
assign the data you just downloaded to an account. Choose an
existing account or create a new one at this point. The transactions
are now downloaded into the register and are waiting for approval
and categorization.
The second method of downloading transactions is to enter your
online information into Quickens One-Step Update section. You simply
enter the same bank card information and password that you would use
to log into your financial institutions website. This is the easier
of the two methods as everything is done from within Quicken. The
transactions are downloaded into the register and are waiting for
approval and categorization.
After you banking data is downloaded you will notice a red flag
next to your account. This flag is to notify you that the account
needs some attention. You will either have downloaded transactions
that need to be approved and categorized or you have a scheduled
bill or deposit to deal with. Double click the ACCOUNT with the red
flag next to it to open the transaction register. Notice at the
bottom of the screen there are two tabs. One labelled DOWNLOADED
TRANSACTIONS and the other SCHEDULED BILLS & DEPOSITS. Click the
DOWNLOADED TRANSACTIONS to bring up the transaction data.
You should now be looking at your past transactions from the
period you specified. If you have a scheduled bill or deposit
Quicken will try to match it to a downloaded transaction. Clicking
on the transaction will take it into the register. You can rename it
to something more memorable and the software will remember the name
for future transactions from the same source. After renaming assign
it to one of the categories you set up earlier. Click the ENTER
button and the transaction is finished. Any related reports will
have this entry included.
Repeat these steps for all of your bank and credit accounts.
Part of Quickens online setup includes the tracking of
investments. Please refer to the Investments Section to review how
to set this up.
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Related Articles
Categories & Groups
Scheduled Bills & Deposits
Creating a Budget
Setting Up Online Services
Reports
Quicken Home Inventory
Backing Up Your Data
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Additional Article Information
This Article was written by
Christopher Skjonsby
This article was posted
October 25th 2008.
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Disclaimer
Please note the articles contained herein are examples for one
method for managing your financial situation. If you are in serious
financial trouble theCitySage.com recommends speaking with a debt
counsellor before proceeding.
The purpose of the articles under this category are to help you
the reader become more aware of how and where you are spending your
finances focus on the mandatory expenses and get control of your
discretionary spending. Follow at your own risk.