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You can use Quicken to track credit cards, charge cards, lines of credit= , or equity lines. Use the following table to determine the best way to use= Quicken.
Record-keeping preferences= p> |
Account to use = |
Actions to take |
You want to keep records of only a few indivi= dual transactions and you always pay your bill in full. |
Checking |
Record the check that pays the bill in your Q= uicken checking account. Split the transaction to categorize specific charg= es. (This method doesn't let you track an outstanding balance, however.) |
You sometimes carry a balance rather than pay= ing your bill in full every month and you want to know your outstanding bal= ance at all times. |
Credit card |
Enter and categorize each transaction from yo= ur receipts as you make purchases. The credit card register shows your bala= nce. |
You want to keep records of some or all of yo= ur transactions |
Credit card |
Enter and categorize the transactions you wan= t to track (either from receipts or from your monthly statement), and then = create one transaction to cover all the charges you don't want to take the = time to enter. |
You want to keep track of your transactions, = but you don't have time to enter them manually. |
Credit card with transaction download |
Connect to your financial institution to upda= te your credit card or charge card account automatically every month. = td> |
If you'd like, you can
Although debit cards often carry the name of a major credit card company= , they are not credit cards. When you make a purchase with a debit card, th= e money is withdrawn from your account as if you had written a check. Use a= checking account for debit card transactions, not a credit card account.= p>
If you always pay your bill in full and you have only a few credit or ch= arge card expenses you want to track, it's easy to just record these expens= es in the Quicken checking account from which you pay the bill. You can tra= ck some or all of your credit or charge card purchases by entering multiple= categories in a split transaction when you write a check to pay your bill.=