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How to Set Up a Credit Card Account in Quicken 2014

how to set up a credit card

If you want to track credit card spending and balances with Quicken 2014, you must set up a special credit card account. In comparison, you use bank accounts to track other things, such as the money that flows into and out of a checking account.

How to add a credit card account to Quicken 2014

To set up a credit card account, you follow roughly the same steps as you do to set up a bank account. Here's what you do:

Display the Quicken home page.

You can do this by clicking the Home tab. The following figure shows the Quicken home page.

  • Click the Add an Account button.

    The Add an Account button appears in the lower-left corner, by the way (this button is a little hard to spot). Quicken displays the Add Account dialog box.

    Tell Quicken you're setting up a credit card account.

    Click the Credit Card option link. (See the following figure.) Click Next.

    The Add Account window allows you to select the type of account you want to set up.

    Identify the financial institution.

    Quicken displays a dialog box that asks for the name of the credit card issuer. The first "identify your financial institution" dialog box, shown in the next figure, lets you enter the issuer name or part of the name into a text box or, alternatively, lets you select your bank from Quicken's list of popular banks. After you identify the bank issuing the credit card, Quicken prompts you to provide your online username and password.

    If you don't want Quicken to make online connections to your bank, you can click the Advanced Setup link (at bottom of dialog box) to indicate you don't want to identify your credit card issuer. When Quicken displays the dialog box that asks whether you want to download transactions or manually enter them, select the I Want to Enter My Transactions Manually option button and click Next.

    Name the account and then click Next.

    When Quicken displays the dialog box that asks you to give a name to the credit card account, move the cursor to the Account Name/Nickname text box

    and type a name. With some flavors of Quicken, this dialog box also supplies option buttons you can use to indicate what you use the credit card for: Personal Transactions, Business Transactions, and Rental Property Transactions. After you click Next, Quicken displays the Add Account dialog box that lets you provide the account balance on a specific date, as shown in the following figure.

    This dialog box lets you provide the account balance on a specific date.

    Enter the date on which you will start keeping records for the credit card account.

    You should probably choose the date of your last statement, like Quicken suggests. Move the cursor to the Statement Ending Date text box and type the date in MM/DD/YYYY format. August 31, 2014, for example, should be entered as 8/31/2014.

    Enter the balance you owed at the end of the last credit card billing period after making your payment. Then click Next.

    Move the cursor to the Statement Ending Balance text box and type the balance value by using the number keys. After you click Next, Quicken displays a message that the account setup is complete. Just click Finish. Quicken finally gets the message and redisplays the Quicken home page. (Refer to the first figure in this article.)

    As you complete the credit card account setup, Quicken may also display a message that urges you to sign up for your credit card company's online banking services. For now, ignore this. If you later want to sign up, just tell your bank, and it'll help you get set up.

    How to select a credit card account so that you can use it in Quicken

    To tell Quicken that you want to work with an account, you use the Accounts bar. Just click the credit card account's name.

    You can also use the Accounts List window to get to the new credit card account — or to any other account, too. To get to the Accounts List window again, choose Tools→Accounts List and then select the account you want to work with.

    After you select the account you want, Quicken displays the register for that account so that you can begin recording transactions.

    Category: Credit

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