If you are new to using Quicken to track your finances, it will be necessary to have a detailed understanding of how Quicken is structured. By understanding the basic structure of Quicken, it will then be possible to maximize the use of Quicken and the way it can help you organize financial information.
Data Files
At the basic level of Quicken is the data file, in which all of your financial information is arranged into. This would be similar to a .doc file within a word processing program. Data files are quite important within Quicken because of the information they contain. As you add or remove your financial information, it is these data files that will need to be modified.
The Accounts System
Further up the hierarchy of the structure of Quicken is the Accounts Systems. Most people would assume that each data file would be generated for each account. However, Quicken through the years to create an Accounts System in which one data file can have many accounts attached to it.
The Accounts System is where all of your financial information is displayed to you. The Accounts system will not only track savings accounts, but also special accounts, for example, such as home or car loans. Using the Accounts System will allow the user the ability to generate reports on all accounts contained within the data file. By doing so, it is possible to keep track of your finances, and not have any surprises at the end of the month.
The Cash Flow Center
The next area of Quicken to be discussed is the Cash Flow Center. It is impossible to talk about Quicken without mentioning this area of the software. As the main “center” within Quicken, the Cash Flow Center will contain a record of the amount of cash that is available at any given time, which is handy for home business users.
The Property and Debt Center
A great feature of Quicken is its ability to record any bills owed, or any property assets available. This information can be found in the Property and Debt Center. The Property and Debt Center is a another useful “center” within Quicken as it visually can tell the home business owner how much debt is outstanding.
The Investment Center
Any investments made can be recorded within the Investment Center. The Investment Center allows management of any investment accounts such as stocks, bonds, or pensions.
The Financial Overview Center
All of this information above is then organized into a very handy area called the “Financial Overview Center.” It is within this center that the home business user is able to track any changes over time to their financial situation. This center will display all of the accounts previously listed in the other areas, and generate the user’s total net worth.
