The Complete Guide to Getting Started with Quicken for Mac

The Complete Guide to Getting Started with Quicken for Mac

With all the choices, options and instructions that Quicken offers, it can be overwhelming for new users. You need to learn everything, even though it seems all seems the same. It is essential to understand some basic concepts before you start using Quicken to optimize your personal needs. Understanding how to use tags and category to track your transactions is one of the most important concepts.

A Quicken Category is a label such as Groceries and Household that defines a broad range of income transactions as well as expense transactions. For tracking how much money you spend and earn, you only use one category per transaction. To illustrate, all grocery purchases regardless quicken tutor of their source go under the Groceries section. All income goes in the Income section.

A subcategory can be used to organize and provide detail within a category or for aid in creating a budget. This is especially helpful in a category like Auto, which can have multiple types of expenses. This makes it easier to see exactly where your money goes by creating subcategories for maintenance, fuel and registration.

Tags work like keywords. They enable you to track transactions within and between category groups. You can use them to track incidentals you spend on a child at college.

Quicken includes many built-in Categories that can be used to cover many common items. The Category List window does not show all of the built-in categories. Much of what you see will depend on the information you provide Quicken during setup. Quicken’s built in categories are available before creating a category. To access the built in categories, click on “Tools”, then select “Category List,” and then click the “Add Categories” button. Then, select the categories to be added from the left-hand menu and click the “Add” button. To close the window, click “OK”, and then return to the Categories List.

To add a new subcategory or category, click on the “New” button in the Categories List window. Create a name for the subcategory or category and provide an optional description. Finally, indicate which category type you are creating, such income, expense, or subcategory. Select “Subcategory” to indicate the main Category Name.

To create a tag, go to the main menu and select Tools. Then, click on “Tag List” at the top and enter a name and description. You can ignore the “Copy Number” box, as it only applies to tracking rental properties. To close, click “OK”. It is possible to create tags, subcategories, and categories “on the fly”, but this is not always the best option.

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