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How to Work with Quicken 2010 Cash Accounts

A special Quicken cash account lets you track petty cash in your business, as well as the petty cash in your wallet. To track the cash, you must enter the increases and decreases into the cash account’s register.

Tracking cash inflows and outflows with Quicken

To record your cash inflows and outflows, use the QuickTab for the account, which should appear on the Accounts bar. The Cash Account version of the register appears. Until you start entering transactions, only the first opening balance transaction shows.

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Here's how you can use the Cash Account register:

  • To record the amount of money you spend: Fill in the Date, Payee, and Spend fields for the appropriate line.

  • To record the amount of money you receive: Fill in the Date, Payee, and Receive fields for the appropriate line.

  • To track the reasons that you’re receiving and spending the cash: Add the relevant information in the Memo and Category fields.

Updating cash balances in Quicken

You can update a register’s cash balance to reflect what you actually have in petty cash, your wallet, under the mattress, in the cookie jar, or wherever else you keep your cash:

  1. Display the Cash Account register.

    You can use the QuickTab for the account.

  2. Click the Account Actions button and select Update Balance from the pop-up menu that appears.

    image1.jpg

    Quicken displays the Update Account Balance: Cash Account dialog box.

  3. Enter the actual cash balance in the Update Balance To text box.

  4. Enter a date in the Adjustment Date text box.

  5. Select the category that you want to update in the Category for Adjustment drop-down list.

    You can choose from all the categories that you've set up.

  6. After you finish, click OK.

    Quicken updates the cash account’s balance.

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