Quicken Tutorial: Learn How To Quickly Download & Categorize Transactions.

[@beatrizordonez7155]

Thanks for all these videos. I need to replace quickbooks soon and I am leaning on going the quicken way. Your videos are very helpful. I think your videos will be very helpful and become popular with people in my situation. If you read the QUICKBOOK reviews there are so many people ready to replace QB due to the yearly price increases. Small landlords don’t need all the functionality that QB offers but accountants want you to use it bc it makes their job easier. Thanks again.

[@PlayLouder]

You're welcome!

[@flula]

Thank You Joe for this transaction categorying tuttitorials! I immediate feel more intelligant!

[@PlayLouder]

Glad it was helpful!

[@lroberts4162]

Joe, great video. I have been using Quicken wrong. Showing the downloaded transactions in the register helps tremendously. Keep up the good work.

[@PlayLouder]

Thanks so much. Im glad they are helpful for you!

[@kb3737]

You are helping me with many things. I have a question about the opening balance. How do I get the opening balance? I am going to do 7 years, which is the allowed limit from the bank. Would I need to know if December 2016 balance to start January 2017? If that is correct, I better not have anything outstanding in 2016. Solve this, oh great one!

[@PlayLouder]

It helps to know the opening balance from a statement or from going back to the start point (date-wise) in online banking. Knowing the number from a statement ensures accuracy, of course. However, if you are going back that far it may be hard to find obviously. So, you can simply edit the opening balance "manually". You just do that math on what it would need to be in order for your current balance to be accurate, and then enter that as the opening balance.

[@SueBuchanan-g1s]

Thanks for your video! I've moved money from a money market account into a newly created CD account. Under category in money market account, I used capital 1 CD which moved the money to the CD account. In the CD account under category, it shows money market account, from which it came. If I change the CD category to capital 1 CD as you were describing in your video it moves the money back into the money market account. What is the best way to show the opening balance in the cd as being transferred from the money market account? Should I've just have done it as a transfer using the transfer tool? Thank you for your help!!!

[@PlayLouder]

Hi there. Thanks for the question, but it is hard to answer a question so specific to your personal setup without seeing it. I do offer one-on-one help if you are interested, though. www.playlouder.com/coaching-call-60min/

[@jitasangha9886]

I've noticed a discrepancy in the balances displayed. The Online balance appears to be accurate, but the ending balance reflects a higher figure. I wanted to inquire if there might be a specific action or adjustment required to reconcile these balances? Thank you! Enjoy your vids.

[@PlayLouder]

Thanks for watching! There are a couple reasons this could be...1) your opening balance is incorrect, or 2) you could have duplicate transactions in your register. The best way to figure this out is to reconcile the account off the paper statements.

[@mperry36]

Very helpful video. Thank you!

[@PlayLouder]

glad to hear it!

[@glorydel9217]

Hi love your videos have been learning a lot. I connected to my bank account and it downloaded from June 2021 but at the present it is not balancing out to what I have in the bank and I'm scrolling up and there alot of negative I don't know where it's not balance how do I fixed that? Should I delete start over try downloading again?

[@PlayLouder]

Thanks, Glroy; glad they are helpful. It would be hard for me to comment without looking at it. I can say that the best way to make sure everything is correct is to reconcile it against the paper statements. YOu should do this anyway as a backup that you are recording everything correctly overall. I don't have a video on reconciling yet, though. You can also book a call with me to get one-on-one help if you like. calendly.com/joedisanto/60min-coaching-call-150 . Thanks -Joe

[@scottsmith6816]

How up to date are the transactions? If I connect say an hour after I go to McDonalds will it show up in quicken? Thanks

[@PlayLouder]

Quicken has a special deal with McDonalds to bring in those transactions immediately. haha. JK. Seriously though, it usually take 1-2 days before it will show up in a download.

[@markdc2871]

Which version of quicken do you use?

[@PlayLouder]

Home and Business for Windows.

[@tkjazzer]

How do you categorize credit card "payment" from a credit card "perk?" Like 20 dollars reimbursement from the credit card for digital subscription. Do you make an income category called credit card perk? Is it really income though?

[@PlayLouder]

I have an income category called "credit card cash back". I put cash back and any "perk" reimbursement in that.

[@nancyjdunn]

Hey Joe - I've been tearing my hair out trying to figure out how to handle and categorize Paypal and Venmo transactions. I ve set up both Venmo and Paypal as individual accounts but is this double counting transactions? a bit confused with this. anything you can do to help solve it is appreciated!!

[@PlayLouder]

They are hard because no specifically identifiable info comes through the bank download. If you set up the Venmo and Paypal accounts, it can work, but you have both payments and then transfer to categorize. Ultimately, you can log into the accounts to see where the money went and categorize it appropriately. I personally limit my use of PP and Venmo and use Zelle. Zelle has more identifying info coming through the download.

[@nancyjdunn]

​@@PlayLouder So frustrating that there's really no easy way to handle this without spending a lot of time on it. Really appreciate your quick response though Joe!

[@vanessasmith7703]

Thanks!

[@PlayLouder]

You are very welcome!

[@EngineVSEngine]

The software is so frustrating right from the start. Added my checking account and it didn't download a single transaction, it only shows the current balance. My bank only downloads transactions in .csv format but quicken for some odd reason only uploads files in a .qfx format. Do they actually expect people to manually enter a years worth of transactions???

[@PlayLouder]

If it were me, and my bank only downloaded transactions in .csv format, I would change banks. In 2023, if a bank doesn't direct connect to some kind of financial software, they are just an outdated bank. I have yet to come across a bank that, at the very least, doesn't allow you to download your transactions in the qxf file (and I have probably tried to connect over 30 banks because I do this for many people). But if my only option was to manually download a .qfx file and manually upload it every time, I would change Banks. It's just a waste time to do it any other way. Quicken direct connects to like over 10,000 banks, so there are plenty of options.

[@KENNYB322]

Very nice video. Here is my problem, I received my credit card statement for let's say $700, but from the previous month I received a credit of $200. Which means I spent $700 but was only billed for $500. How do you under split transactions so it shows your $200 credit. Thank you for your help

[@PlayLouder]

just record the credit as a transaction and categorize it to whatever the credit was for. If it was cash back, make a cash back income category. If it was a return, categorize it to the same category the original charge went to.

[@tkjazzer]

Do more videos on companion app and glitches with mobile website.

[@PlayLouder]

I'll put that on my list.

[@tkjazzer]

@@PlayLouder especially the android app (which I heard is worse than iphone / ipad app)

[@missywoodward801]

My format looks completely different - mine is for Mac. Maybe that's why I can't find the Data Entry and things in Preferences?

[@PlayLouder]

Yes, the Mac version is fairly different in its layout and look. The functionality is very similar. So, if you see me do something, you may have just figured out how to get to it in the Mac version.

[@Bigislandtinyfootprintbusker]

Sorry buddy I’m six minutes in your video you said absolutely nothing. It’s 2023. This program is not the same as the one we use. No the stuff you’re saying is underneath the same headings time for a new video. And considering you’re the only video that popped up, that’s even close you cornered the market. Good job too bad it doesn’t help for my needs.

[@PlayLouder]

Sorry it didn't meet your needs. I do have quite a few quicken videos I've posted in 2023. Perhaps one of them could help you on a different topic. Otherwise I wish you the best in your search.

[@cherylnaumann5524]

Hi I love your videos - as a new Quicken user, they are super helpful! I'm confused about one thing. I downloaded transactions for 6 months, and I have, for example, payments to Amex. But, Quicken has defaulted the category to be my checking account in brackets (like [Wells Fargo xxxxxx0004]). What is the reason that it shows my own checking account as the "category"?

[@PlayLouder]

Sorry my reply is so late, but thats is how you record a transfer. You pick an account as a category.

[@KlarasSmallBusiness-wb3cm]

@@PlayLouder Please explain which account to choose for these transfers. I've gotten so much conflicting advice on this!!!...and then there's the pop ups telling me I'm recording into the same account even when I've chosen a different account. .......... If I transfer from Savings01 to Checking, then what should show up in Savings 01 and what should show up in Checking? Specifically. Should Savings01 say Category [Checking] and Checking show Category [Savings01] or something different? Please help!!!

[@buyahouse...purchaseorrefi4618]

14:56 Rename rule

[@PlayLouder]

thx