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Remove the mystery from your finances with Quicken 2014, the one-stop shop for managing your money and charting your financial future. In this course, Sally Norred takes you on a tour of this powerful personal finance tool, showing how to connect with your bank, and integrate your savings, retirement, loan, and credit card accounts to see the big picture of your financial health. Learn how Quicken automatically tracks and categorizes your spending, and then see how to customize this tracking to suit your needs. Walk through setting up bill and income reminders to stay on top of important payment dates and developing a budget that gives you the information you need to make sound financial decisions. Once you understand the basics, discover Quicken's tools for helping you get out of debt as soon as possible and create savings goals for your next big purchase. Last, see how to get the most out of your investments and check out the Quicken mobile app, which allows you to track purchases using photos of receipts taken with your mobile device.
Using the QuickFill and memorize payee features in Quicken can be real time savers when entering and editing transactions in your account register. Firs,t let's talk about Quicken's QuickFill feature. This is a preset feature in Quicken that gets more powerful the more you use Quicken. Here's how QuickFill works. If Quicken can guess what you're typing in a Payee field, it fills in the rest of the field for you. The second time you use a Payee name, for example, Quicken knows that it's the second time. Quicken also figures out that, hey, some stuff from the last grocery transaction is probably going to be the same for this transaction.
Let me show you with this Kirkland's grocery transaction I'm entering. When I type the first few letters of the payee name, Quicken supplies a suggested payee name for me. After I press Tab to select the name, Quicken uses the last transaction's information to fill in all the current transaction's fields. But be careful with QuickFill. You still need to make sure that the date and the amount and any other information is correct. It's true; Food and Dining/Groceries is the correct category, but I did not spend $122.43; I spent $151.96.
If Quicken QuickFills a field with the wrong information, just replace the wrong information with the right information. Click Save when you're sure you've got it all right. Now let's discuss the memorized payee's feature of Quicken. As you enter transactions, Quicken can automatically memorize the information associated with specific payees and store this information in the memorized payee list. When you recall a memorized payee, the payee category amount and other fields are all prefilled, and you can immediately enter the transaction or edit any of the registered fields as necessary.
Here's an example of how a memorized payee can save you time. You may write a check to your lawn care provider, Yard Pros, each week. The first time you record that check in a Quicken register, Quicken memorizes everything except the date and check number and adds Yard Pros to the memorized payee list. The next time you begin typing Yard Pros in a payee field, Quicken finds the associated memorized information and enters it in the register for you. You can change the information that Quicken enters, such as the amount and then record the new transaction. Quicken saves any edits you make, such as the new amount, and updates the memorized payee template, unless you've locked the memorized payee.
Let's take a look at the memorized payee list. Choose the Tools menu and select the Memorized Payee List. There will be times when you want to edit memorized payees to make them more accurate; for instance, Quicken will sometimes make errors in how the payees are memorized when transactions are downloaded from your bank. Let's take a look at how to edit memorized payees. Select the payees that you want to change, I'll select Yard Pros. Click the Edit button. Make the edits that you want to change in any field. I'm going to change Yard Pros to a $75 fee. You can click Edit Renaming Rule to change the name of this payee when it's downloaded from the bank.
For example, if the bank downloads this is a longer name like Yard Professionals 99209, I can rename it to Yard Pros. Click OK. Note that you can also add a memorize payee manually by clicking the New Payee button on the memorize payee list. The memorized payee list can hold anywhere from 1,000 to 2,000 transactions, depending on the size of the transactions. When the list becomes completely full, you can't memorize any more transactions until you delete existing ones. If you usually make payments to many different payees, the memorized payee list might fill up more quickly.
If this is the case, the automatic memorization feature isn't as much a benefit to you. Consider turning it off. To turn on or off automatic pay memorization or QuickFill, select Preferences in the Edit menu, click Data Entry and QuickFill under register. You can use this dialogue to customize setting that affect how memorized payees are created, displayed and recalled, and how QuickFill settings work in your account register. Quicken uses the QuickFill and memorize payees features to make transaction entry and editing more efficient.
Use caution with these features to make sure you're entering the accurate data in each field of the transaction.
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