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Posted by sharx35 on August 21, 2007, 2:53 am
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> wrote:
>
>>
>>> lanman wrote:
>>>> In the 2008 version, does anyone know if the split transaction line
>>>> items are still limited to 30? That limitation prevents me from
>>>> entering the credit card detail I want. Thanks...
>>>
>>> Google the archives ("quicken credit card payments split") on how to
>>> enter
>>> credit card transactions and a *single* credit card payment. If you
>>> think
>>> you should be entering every one of the transactions when you pay your
>>> credit card bill, you might not be understanding how to enter credit
>>> card
>>> payments.
>>>
>>> One post from the past is (and I am quoting someone else here) "[*] I'm
>>> assuming you know that the "right" way to do this is create a credit
>>> card
>>> account and enter all your purchases in the credit card register; then a
>>> payment is a simple transfer from your checking account to the credit
>>> card
>>> account--one item! :) "
>>
>>
>>Yes, that is PRECISELY the proper way to do it.
>>
>
> What I've always done is take my credit card statements when they
> arrive in the mail, and at that time categorize each transaction in
> Quicken. I separate any inadvertant business purchases put on a
> personal credit card, and I track my wife's spending vs. my own
> because we each pay for our own purchases.
>
I can understand you separating out business expenses, for tax reasons,
among others. However, WHAT is the point if separating out
your wife's purchases? MOST people, when they get married, MERGE all their
finances. I just do NOT
understand this nitpicking about WHICH spouse spends money on whatever.
> This has only become a problem for me in the last year or so since
> more and more small merchants are accepting credit cards, e.g.
> McDonalds's, etc. I put everything I can on a credit card because it
> allows me to better see where the money is being spent, and I get cash
> back on most of my cards.
Likewise, whenever possible I use the credit card, for cash back purposes
and
to avoid having to have much cash on hand.
>
> Using your method, would I not have to enter each credit card
> transaction in the Quicken credit card account(s) as they occur. If
> so, I prefer to do it all at once when my statement arrives. I also
> don't do downloads from my bank because years ago my checking account
> got hopelessly messed up with online downloads and I never could
> straignten it out. I eventually had to force a balancing transaction.
> Thanks again...
>
What's the big deal about entering them as they occur? When we get home, we
put our credit
card receipts into a basket. When I have the time, I enter them. When
the bill comes, I do a RECONCILE. I don't do downloads from
financial institutions because they cause more problems than they solve.
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