Quicken Home Inventory
Quicken Home Inventory is a bit of an archaic throw back from
earlier versions of the software. It remains a useful tool for
managing and assigning value to worldly possessions. It also
provides a detailed list of items you can provide to your insurance
company if the need arises. It creates a separate file from Quicken
and all care should be taken to back up this file as well as your
Quicken file.
Opening Quicken Home Inventory
From the PROPERTY & DEBT menu at the top of the Quicken window you
will get a drop down. Simply click QUICKEN HOME INVENTORY MANAGER.
On some versions of Windows Vista you will get an error opening this
program. You must close out of Quicken completely then right click
on the icon to start the software. You must choose the option RUN AS
ADMINISTRATOR. Once Quicken reopens you can now select the QUICKEN
HOME INVENTORY MANAGER and the software will open correctly.
Using The Software
The software is straight forward and easy to use. Simply type the
name of you possession into the name field, enter the cost you paid,
it automatically assigns a resale value of 50%. You can adjust this
to a more realistic number as you see fit.
Ensure you make a complete list of all your possessions. I include
the serial numbers in the name where possible. Ensure you choose the
right location for each of the items. You can use the MOVE tool to
change items if they are entered in the wrong location. You can also
create locations and categories as you see fit.
There are three very strong reasons for using this software. The
first reason being that it creates an Asset Account that greatly
increases you financial net worth. Second it helps determine the
value of your assets to help you properly choose the right level of
coverage from an insurance provider. The third is it gives you a
complete list of items, some of which you may forget, in the case of
a complete loss.
Updating Quicken
At the top of the window there is a button with a Q and an up arrow.
Simply clicking this button creates an Asset Account in Quicken with
the replacement value as a balance. You do not need to be completely
finished before you UPDATE QUICKEN. From the main Quicken File you
can simple click on the HOME INVENTORY Account to open up your file.
You can more items later, but remember the balance in Quicken will
not update until you tell it to do so.
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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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