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Updating your accounts

From: Quicken 2014 Essential Training

Video: Updating your accounts

Once you've added a banking account to Quicken, Quicken calls this account update process One Step Update, because it gives you Alternately, you can access one step update, by Or in the tools menu, by selecting one step update.

Updating your accounts

Once you've added a banking account to Quicken, you'll want to keep it updated and current. Before I show you how to update your accounts, let's talk about what it means to update an account in Quicken. When you update a bank account in Quicken, Quicken connects to your bank online and downloads your most recent transactions and account balances. This is really the handiest part of Quicken because it allows you to enter all your transactions instantly without you manually having to enter every deposit and payment. Quicken calls this account update process One Step Update, because it gives you the ability to update all of your accounts and online services at once.

Let's start by looking at our list of accounts. To see your list of accounts it's best to expand your accounts bar on the left side of your screen, so you can see and select the accounts you're updating. Click the small triangle, so that it's pointing down until you see the list of the accounts expanded in the Accounts menu on the left side of your screen. Quicken calls the account update process One Step Update, because it gives you the ability to update all of your accounts and online services at once. To start the one step update process, click the blue circular arrow in the top right of the account bar.

Alternately, you can access one step update, by clicking this big,blue, circular arrow in the top toolbar. Or in the tools menu, by selecting one step update. When you click the blue circular arrow, the one step update settings pop-up screen will appear. This is where you select which accounts and online services you’d like to update. In our case, we’ve only entered one financial institution. Make sure that the financial institutions that you'd like to update have the check mark selected in the check box next to your name. Since you've already added your bank information and user name, when you added your account Quicken already has the information necessary to access your bank.

If you didn't save your password when you added the account you'll need to add the bank's online password in the blank field on the right side of the account name. If you've already set up your password vault, check the check box next to the password to save the password. If you haven't set up your password vault yet, uncheck the check box. If you have multiple financial institutions, but you don't want to update all your accounts. Deselect the check box on the left for any financial institutions you don't want to update at this time.

Even if you haven't added any stocks or investments to watch by default Quicken will select download quotes, and investment information under online services. It's fine to keep this checked. It will simply update basic market indices including the Dow Jones Industrials, NASDAQ, Russell 2000, and S&P 500. You can edit these settings or add more quotes later. Click the update now button, in the bottom right of the pop window to update your accounts. Quicken will show a pop up window labeled one step update and you'll see a progress action on the screen showing that Quicken and your bank are communicating.

Once the update is complete you'll see a screen labeled one step update summary. It will show the financial institutions that were updated, how many accounts were updated for each financial institution, and how many transactions were downloaded. It will also list how many quotes and investing headlines were updated if you updated online services. Click the Close button in the bottom right of the pop up window to return to the account bar and transaction register. Any newly downloaded transactions will be labeled with the blue new in the leftmost column of the transaction.

Click the name of the account to see the account register for that account. Quicken makes it really easy to update all of your accounts at once. You can keep current on all of your latest transactions, account balances, and investment information directly from Quicken without visiting a bunch of different financial institutions websites.

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This video is part of

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Quicken 2014 Essential Training

47 video lessons · 1365 viewers

Sally Norred
Author

 
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  1. 47s
    1. Welcome
      47s
  2. 10m 45s
    1. What is Quicken 2014 Premier?
      2m 45s
    2. Defining common Quicken terminology
      2m 58s
    3. Touring the Quicken interface
      5m 2s
  3. 36m 42s
    1. Setting up your Intuit ID
      2m 54s
    2. Using the Account Bar
      2m 46s
    3. Understanding account types
      3m 59s
    4. Adding your first account
      3m 11s
    5. Updating your accounts
      3m 44s
    6. Setting up your Password Vault
      2m 55s
    7. Adding other spending and savings accounts
      5m 15s
    8. Adding investing and retirement accounts
      4m 45s
    9. Adding property and asset accounts
      2m 44s
    10. Adding loan and debt accounts
      4m 29s
  4. 42m 13s
    1. Understanding spending account registers
      4m 59s
    2. Searching, sorting, and filtering transactions
      2m 31s
    3. Downloading transactions for a specific account
      1m 53s
    4. Entering spending transactions manually
      2m 15s
    5. Understanding transaction categories
      2m 42s
    6. Categorizing transactions
      4m 37s
    7. Customizing the Category List
      3m 54s
    8. Recording split transactions
      3m 31s
    9. Transferring funds between accounts
      1m 21s
    10. Saving time with memorized payees and QuickFill
      4m 30s
    11. Reconciling accounts
      4m 8s
    12. Using the Spending tab
      2m 28s
    13. Creating and understanding spending reports
      3m 24s
  5. 20m 8s
    1. Using the Bills tab
      4m 6s
    2. Setting upcoming bill reminders
      5m 11s
    3. Setting upcoming income reminders
      4m 6s
    4. Projecting future account balances
      2m 54s
    5. Using Quicken Bill Pay
      3m 51s
  6. 24m 39s
    1. Using the Planning tab
      2m 34s
    2. Creating a budget
      5m 48s
    3. Creating a debt-reduction plan
      3m 53s
    4. Using the Lifetime Planner
      3m 32s
    5. Using the Tax Center
      3m 29s
    6. Creating savings goals
      5m 23s
  7. 18m 11s
    1. Using the Investing tab
      4m 22s
    2. Viewing your portfolio
      4m 45s
    3. Tracking your portfolio performance
      3m 10s
    4. Monitoring asset allocation
      3m 46s
    5. Creating and understanding investment reports
      2m 8s
  8. 10m 58s
    1. What is the Quicken mobile app?
      2m 51s
    2. Installing the Quicken mobile app
      3m 59s
    3. Quicken mobile app overview
      4m 8s
  9. 33s
    1. Next steps
      33s

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