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balancing your check book with quicken?

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Old 08-31-06, 09:08 AM
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Default balancing your check book with quicken?

How do you manage this if you use quicken?

when i get back from the beach- i want to start manageing this more closely-- right now, i just weekly download the online register
 
and wing it from there.... adding the category to the item so it matches my budget--

what do you do?
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Old 08-31-06, 09:19 AM
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Now that we use CASH for everything, it's so much easier to manage Quicken because we have few to no things to enter into Quicken. Sometimes, things come up that need to be entered. For these receipts, we keep a shoebox lid (yes a colorful Keds shoebox lid) on our desk here in the basement. In that, we put our bills, statements, and receipts. So when it's time to pay the bills or file anything, we have everything in one place.

When there are receipts int here, I enter them into Quicken. I categorize what it was for, and then transfer that receipt to the other part of the shoebox under the desk. (This way if we have to return anything, we have the receipt.)

We pay all the bills ONLINE which is so easy and saves checks and postage. So tonight, I'll go to National City's website and do an EFT (Electronic Fund Transfer) for Earthlink Truevoice (phone), DP&L (electric), and Vectren (gas). (You can see all of my bills
 
. The Chase-Debt Pay bill is a check we write to my FIL who carries that GIANT balance for us. [He offered to take it on, with us making the payments, because he had a credit card with a limit far above our $19,000 debt and it had a 0% APR until it's paid off. So we begrudingly did it and we're making payments that are 3-4 times the minimum so we can get it paid off.]

Then we'll do our regular budget meeting, figure out our envelopes, and I'll cash the check tomorrow for the total we need for envelopes. Then we consider our budget done for this two weeks. We'll know where every dollar is going before it gets there, and we'll have lots left over to put toward debt!
 
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Old 08-31-06, 09:36 AM
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So do you download from your bank for your eft items- or manually enter them into quicken?

and for your cash items-- how do you manage your budget for these items in quicken? I like your idea of the envelopes- etc... but how do you catch that up in quicken so you have a record of what you spent-- or do you bother since you really already have your budget via the envelopes?
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Old 08-31-06, 09:45 AM
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I manually enter them. We tried the download thing and it messed everything up, it's a lot less backtracking for me to just enter them myself. Then I can KNOW what we spent that money on instead of just seeing an entry come in from the bank.

We don't bother making entries for each cash category in Quicken. We make one large entry for the amount of cash we get out. Then, because we know that we had allotted for that money, we don't bother with Quicken. BUT--it's something that we've considered. You can do a SPLIT in the category section of Quicken. So we might start divvying up the amounts, just for record keeping sake, into the different categories in Quicken, but it would still look like just one entry in the log.

Does that make sense?
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Old 08-31-06, 10:34 AM
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good luck with it. I don't use quicken
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