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Tell Quicken 2012 What the Credit Card Company Says When Reconciling

To reconcile a credit card account in Quicken 2012, first get your credit card statement. The next step is to tell Quicken what that nasty credit card company says. Follow these steps and put on some music if you can’t seem to get the rhythm thing right:

1

Click the Account Actions button in the transaction list window and choose the Reconcile command.

Quicken displays the Reconcile: Credit Card dialog box.

2

Enter the charges and cash advances that your statement shows.

Move the cursor to the Charges, Cash Advances text box and then type the number.

3

Enter the payment and credits that your statement shows.

You know the drill: Move the cursor to the Payments, Credits text box and type the number.

4

Enter the new balance shown on the credit card statement.

Go ahead and type the figure in the Ending Balance text box — even if you just can’t believe you charged that much.

5

Enter the ending statement date.

Why Quicken is now collecting this piece of information is a mystery. For more than ten years, Quicken has been able to reconcile your credit card account (and any other account) without this snidbit of data.

6

Enter the monthly interest charge by using the Finance Charges text box.

Pause for a moment of silence here if this topic makes you sad, sad, sad.

7

Assign the monthly interest to the appropriate spending category, such as Interest Exp.

Move the cursor to the Category text box and type the category name. Remember that you can click the little down arrow at the end of the text box to see a list of categories to select from.

8

Click OK.

Quicken displays the Reconcile: Credit Card window. Use this window to tell Quicken which credit card charges and payments appear on your statement. (This step is akin to looking at a bank statement and noting which checks and deposits have cleared the bank.)

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