Quicken Tips

Credit Worthy

Contrary to what most people think, a direct relationship exists between credit cards and actual money. Sooner or later, you're going to have to actually pay for the stuff you buy with credit cards. If you're a bit credit card happy (and, really, who isn't?), you may want to set up and use a separate credit card account. Doing so not only handles paying your credit card bills, but it can help you keep close track of what you owe. To set up a separate credit card account, follow these steps:

• Choose Lists + Account (or press Ctrl-A).
• When the Account List appears, click on New.
• Select Credit Card and click on Next.
• Enter an Account name and description, and click on Next.
• If you have your last statement (you'll need it sooner or later), select Yes; then click on Next.
• Enter the statement date and the balance and then click on Next.
• If your card isn't from Quicken and you don't use Online banking, select No and then click on Next.
• Enter the card's credit limit and click on Next.
• The Account summary appears. If all is well, click on Done.
• Back in the account list, double-click on your new entry to get to the Register.

Assuming you have a checking account already set up, when you make a credit card payment, choose Transfer To/From Checking. This way, the payment is automatically subtracted from your checking account.

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