You can print this short guide: on the File menu at the top of your screen, click Print.
What follows is concrete advice about how to proceed once you start using Money on your own—just enough detail to tell you how to do it and pointers to Money’s thorough Help system if you need to know more. There are many ways to use Money; these are the few described in this guide:
· Keep your checkbook
· Track investments
· Get ready for taxes
· Create a budget, reduce your debt, and do other long-range planning
If Money’s Setup Assistant helped create your accounts or you converted a file from Quicken or an earlier version of Money, your checkbook is halfway done. Next, you’ll want to:
Record past checks, deposits, and other transactions Decide how much historical account information you want to include. The most common way people get going is to enter data from their most recent statements. If you want Money’s help with your tax returns, start recording from the beginning of your tax year. Otherwise, how far back you go is a matter of preference. However, the more data you enter, the more substantial Money’s feedback about your finances will be.
Track what you spend and
receive You can categorize your transactions—label them Electric Bill, Car
Payment, or Salary, for instance. Then Money can report exactly where your
money goes or help you track income and expenses for taxes or your budget. To
get an idea of how categorizing works in Money, play the video, Enter checks, deposits, and other
transactions.
To get to the video, type transaction
forms in the Ask Money box at the
bottom of the Help pane, and then press Enter. Click Enter a transaction using transaction forms… and then click the
video.
1. At the top of the screen, click Accounts.
2. Click the account you want to see.
If the account is empty it’s because you haven’t yet entered any transactions.
1. In the account, click Withdrawal (for checks and other withdrawals), Deposit, or Transfer near the bottom of the screen.
2.
Enter the check information on the form, pressing TAB to move
between fields.
You can either type directly into each field or click the down-arrow next to
the field and pick from there.
3. Pick a category to assign to the transaction.
4. Click Enter.
If Money’s Setup Assistant helped you start your Money file, take a look at what you entered.
· At the top of the screen, click Bills.
1. On the Pay bills page, click the bill you want to pay or the paycheck you want to deposit.
2. At
the bottom of the screen, click Record
Payment or Record Deposit, and fill in the details on the form.
Money records the transaction in your check register.
3. Don’t forget to write a check or deposit the paycheck!
If Money’s Setup Assistant helped create your accounts or you converted a file from Quicken or an earlier version of Money, your investment accounts may already be set up. So next you’ll want to:
Get an overview of
how Money helps you manage your holdings
Go to the Investing Center and start by watching the video, Manage your investments with Money—it’s
under two minutes.
Decide how you want to track your investments Do you simply want to track the number of shares you own and the price of the stock or do you want to track the buys and sells as well? If your investments affect your income taxes (through capital gains or loss that occur) or you want to assess the performance of your investments, then consider the more-detailed approach. The video, Enter an investment transaction, shows you how.
Record your investments Enter all your investment holdings in the accounts you’ve set up. If you need to set up a new investment account, type something like investment account in Ask Money, and then click Create an investment account for detailed instructions.
1. At the top of the screen, click Investing.
2. Under Watch a video, click the video you want to see.
For more detail on adding investment transactions, type something like add investment transaction in Ask Money, and then click Add shares to an Investment Account.
1. At the top of the screen, click Investing.
2.
Under Account Tasks,
click Enter investment transactions and
follow the directions on the screen.
When Money asks, you must provide the Quantity,
but Price and Date Purchased are required only if you plan to track your
investments in detail.
Money helps you get ready for taxes during the year and then helps you file them at tax time.
Find out how Money can help you prepare for tax time Go to the Tax Center for all tax-related activity in Money. For an overview of what Money offers here, watch the video, Manage your taxes with Money—it’s under two minutes. It’s not too soon to try any one of the list of activities—such as Find personal tax deductions in the section To do throughout the year.
Record and categorize your transactions Follow the instructions earlier in this guide, “Keep your checkbook in Money,” to enter every transaction—checks, deposits, and so on—from the beginning of the tax year, making sure to categorize them. The more thorough you are, the more accurate the file Money prepares at tax time.
1. At the top of the screen, click Taxes.
2. Under Watch a video, click Manage your taxes with Money.
Wait Money has a variety of tools that can help you plan for and accomplish financial goals. But financial planning is a process that begins with a solid foundation of the kind of data we’ve mentioned in this guide—entering transactions of all sorts, including your investments. Once you have a solid base of data, Money’s planning tools will walk you through the steps required.
Get the big picture Click Planner at the top of the screen to go to the Planning Center to see what Money offers by way of planning—budgeting, reducing debt, and so on.