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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.
When you transfer money between accounts one account balance increases and the other account balance decreases. But your net worth remains the same. Remember, in Quicken there's a category group for transfers. These include transfers between accounts that you've added to Quicken. Quicken records a transfer in your transfer from account register and automatically creates a matching transaction in the transfer to account. The category field in a transfer transaction shows the other account involved. For example, if the current account is the account you're transferring money from, the category field will display the account you're transferring money to.
Here's an example. I'll show that since she's transferring $100 from her savings account to her checking account, we'll select Transfer, and Jeannie's Checking. Press Enter on your keyboard, or Save in that transaction line to save the transaction. We'll verify that in her checking account, now this transaction shows as a transfer from her savings account. Please note that this process will allow you to record a transfer in Quicken. The process of making this transfer happen in the real world is separate. It's important to understand how to record transfer transactions so that you don't create duplicate transactions.
Recording transfers in Quicken can help ensure that you're tracking your net worth accurately
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