How to Add a Credit Card Account in Quicken 2012 - dummies

How to Add a Credit Card Account in Quicken 2012

By Stephen L. Nelson

To set up a credit card account in Quicken 2012, you follow roughly the same steps as you do to set up a bank account. Here’s what you do:

1Display the Quicken home page.

You can do this by clicking the Home tab.

2Click the Add An Account button.

The Add button appears in the lower left-hand corner, by the way. Quicken displays the Add Account dialog box.

3Tell Quicken you’re setting up a credit card account.

Select the Credit Card option button when Quicken asks what type of account you want to set up. Then, click Next to display the Quicken Account Setup dialog box (or boxes) that ask about the financial institution foolish enough to issue you a credit card.

4Identify the financial institution.

Quicken displays one or two dialog boxes that ask for the name of the credit card issuer. The first “identify your financial institution” dialog box lets you enter the issuer name or part of the name into a text box or, alternatively, lets you pick 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 hyperlink (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 Enter Transactions Manually option button and click Next.

5Name the account and then click Next.

Why not? Move the cursor to the Account Name/Nickname text box and type a name. After you click Next, Quicken displays the Add Account dialog box that lets you provide the account balance on a specific date.

6Enter 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. September 1, 2012, for example, should be entered as 9/1/2012.

7Enter 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.