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Extra Bits

Enter Card Charges p. 94

  • You can save yourself virtually all of the data entry associated with a credit card account by enabling online access and downloading your credit card statement over the Internet. In almost all cases, you can download each month’s statement from the credit card provider’s web site. You can then reconcile the account without needing to refer to paper statements at all, and if you have signed up for online banking, you can send your credit card payments electronically. This is absolutely the best and easiest way to deal with your credit cards; I haven’t written a paper check for a credit card payment in years.

  • If you have credit cards that you use infrequently, it may not be worth even the minor trouble of setting them up in Quicken. For example, I have an old department store credit card that I rarely use. On those occasions when I do use it, I pay off the card’s balance with a check or online payment from my checking account, and categorize that payment in the checking account register with the appropriate category for the purchase.


Make Card Payments p. 95

  • If you won’t be paying off your credit card balance in full every month, consider adding a scheduled transaction that will remind you to make the card payment before your monthly due date. That will help you avoid those nasty late fees. Set the scheduled transaction up with a variable amount, and tell Quicken to remind you of the transaction, rather than enter it automatically in the register. Then you can edit the transaction to show the amount you will actually pay this month. See Chapter 4 for more information about scheduling transactions.



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