How to Reconcile Credit Card Accounts in Quicken 2015

By Stephen L. Nelson

To reconcile a credit card account, first get your credit card statement. Next, display the credit card account in a transaction list window. 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:

1Click the Account Actions button in the transaction list window and choose the Reconcile command.

Quicken displays the Reconcile: Credit Card dialog box.

2Enter the charges and cash advances that your statement shows.

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

3Enter 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.

4Enter 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.

5Enter the ending statement date.

For more than ten years, Quicken has been able to reconcile your credit card account (and any other account) without this snidbit of data, but in Quicken 2015, it is now requesting this info.

6Enter 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.

7Assign 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. You can click the little down arrow at the end of the text box to see a list of categories.

8Click 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.)