Do You Need to Track Credit Card Purchases with Quicken 2012?

If you do carry a credit card balance — and about 50 percent of people do — you can set up a Quicken 2012 credit card account and use it for tracking credit card purchases. If you just need to keep track of how much you charge during the month (even if you’re going to pay the balance in full), you must also set up a credit card account and use it.

In order to track not just what you charge (by using spending categories) but also where you charge it (by using the Payee field), you must set up a credit card account and use it.

You don’t need to use Quicken to track credit card purchases if you pay your credit card balance in full every month. (Don’t feel bad if you don’t.) Therefore, you don’t have an open credit card balance to track.

What’s more, when you pay the monthly credit card bill, you can easily use the Split Transaction window to describe your spending categories: $3.53 on food for lunch, $52.64 for car repair, and $217.54 for books.

Of course, you don’t need to use Quicken to tell you your account balance because it’s always zeroed-out at the end of the month.

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Source:http://www.dummies.com/how-to/content/do-you-need-to-track-credit-card-purchases-with-qu.html