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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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