Types of accounts

Checking

Checking

Start with your primary checking account. This is the account where you deposit your paycheck and pay your bills from.

Credit Card

Credit card

Start with the card you use most often, and 

 in Quicken.

Line of credit

Use a credit card account to 

 that isn't a home equity line of credit. (Use a 

 account instead.)

Savings

Savings

Add your savings accounts, especially if they represent a significant part of your net worth or emergency reserves. You can also use this account type to track any CDs (certificates of deposit) or money market accounts that you hold.

Cash

Cash expenditures or petty cash

If you want to know where absolutely all your money goes, or if you need to track petty cash for your business, add a Quicken cash account. (If you do, you can save time by tracking cash expenses only to the nearest dollar.)

Brokerage

Most investment account types

A brokerage account can hold one or more securities (such as stocks, bonds, or mutual funds), with or without an associated cash management or money market fund (sometimes called a "sweep" fund).

Employee stock plans

Use a brokerage account type to track Employee Stock Option Grants (ESOG) and Employee Stock Purchase Plans (ESPP). To simplify record keeping, we recommend tracking each of these in a dedicated account. Add a brokerage account, and then use the 

 to enter the grant and exercise transactions or buy and sell ESPP shares.

Other

You can use the Brokerage account type to track any security with a fluctuating value, for which you want to track performance, income, capital gains, or tax implications. Use this account type to track variable or fixed annuities, real estate investment trusts (REITS) or partnerships, and unit trusts. Just add the appropriate number of shares and price, and then periodically update the security price.

401(k)/403(b)

401(k) or 403(b) accounts

Use the 401(k)/403(b) account type to track employer-sponsored retirement plans. Contributions to these accounts are tax-deferred, and your employer may make matching contributions. Quicken can track your holdings whether or not your statement reports transaction-level detail or the exact number of shares you own.

IRA or Keogh plan

Individual Retirement Accounts and IRA-type accounts

Quicken lets you specify the type:

• Traditional

• Roth

• SEP-IRA

• SIMPLE IRA

• Education IRA

• Coverdell ESA

• Keogh plan

529 plan

529 plan accounts

Use the 529 plan account type to track your education savings account. When you add a 529 plan to Quicken, Quicken automatically marks the account as tax-deferred.

Single mutual fund

A fund you purchase directly from the mutual fund company. The single mutual fund account type is only for funds that meet these three conditions:

• You buy the fund directly from the mutual fund company

• Your account has no cash balance—any funds you contribute are automatically used to purchase shares; any dividends you receive are either sent to you or automatically reinvested

• If you buy another fund, the mutual fund company requires you to open a separate account

House

The value of your home

Enter the purchase date, the purchase price, and the balance adjustments for any capital improvements or market value changes. You can use the Zestimate feature (This feature is not available in Canada).

 to get the current estimated current value of your home. When you sell the property, the selling price minus the purchase price represents the gain.

Notes

When you add a house account, Quicken also help you add a loan to track the payment schedule, principal, and interest. When prompted, click Yes and follow the on-screen instructions.

Vehicle

The value of a car, truck, or motor vehicle

If this is a business vehicle, you can add balance adjustments to calculate depreciation.

Notes

When you add a Vehicle account, Quicken can also help you add a loan to track the payment schedule, principal, and interest. Just click Yes when you're prompted.

Other Asset

Things you own

Use this for valuable assets such as art, collectibles, or capital equipment. As a rule of thumb, decide whether you consider the item to be truly an investment or saleable item. Do you consider its value and appreciation to be part of your overall net worth? If you use it in your business, do you intend to track its depreciation?

Loan

Money you owe

Quicken uses a loan account, which tracks the payment schedule, principal, and interest. Except in the case of a House or Vehicle account, it's usually simpler to add the loan first, and then add the asset account when Quicken prompts you to do so.

Notes

To track a standard line of credit (not a home equity line of credit), use the 

.

Home Equity Line of Credit (HELOC)

Your line of credit

Quicken uses a special loan account. It can be linked to your House account to better reflect your net equity, and helps you track a changing balance of withdrawals and payments.

Other Liability

Other money you owe

Use this account type to track informal liabilities, for example money you have borrowed from friends or family that does not have an interest rate or term associated with it.

Checking, credit card, cash

Business-related checking, credit or charge card, and petty cash

Add a Quicken account for each real-world checking, credit or charge card, and cash account.

When you enter transactions, use Quicken categories to get the most from reporting, tracking, and analysis tools.

Invoices/receivables

Requires Quicken Business & Personal. Learn how to upgrade Quicken.

Accounts receivable

If you use accrual-basis bookkeeping, you must track your accounts receivable (invoices) and customer payments in an invoice account. Add one invoice account for each business you track in this data file.

Even if you use cash-basis bookkeeping, an invoices/receivables account can help you track cash flow and forecast income.

Bills/payables

Requires Quicken Business & Personal. Learn how to upgrade Quicken.

Accounts payable

If you use accrual-basis bookkeeping, track your accounts payable (bills) in a bills account.

If you use cash-basis bookkeeping and pay your bills as soon as you receive them, then you don't need to add a bills account. Just create bill reminders to remind you when bills are due. (The accounts payable reports may still be helpful, though, for managing your cash flow and tracking unpaid bills.)

Sales tax

Requires Quicken Business & Personal. Learn how to upgrade Quicken.

Amount you owe to local tax district for products you sell

Quicken adds a sales tax account for you the first time you enter an invoice item for which you charge sales tax. If you do business in more than one tax district, you can add a sales tax account manually.

Property & Debt

Capital equipment

Add a property account for any item that you consider to be part of your business's balance sheet, or for capital equipment that you intend to depreciate. Add a debt account to track any amount you owe. If there is an outstanding loan, click Yes when you're prompted to add a loan. Quicken uses the loan feature in conjunction with the property account to track the payment schedule, principal, and interest.

Checking, credit card, savings, cash

Rental property checking, credit, savings, or cash

Add a Quicken account for each real-world checking, credit, savings, or cash account.

When you enter transactions, use Quicken categories to get the most from reporting, tracking, and analysis tools.

House

The value of your property

When you add a property in Quicken, Quicken creates a house account having the same name as the property name and links the house account with the property. But if you already have a house account in Quicken, you can link that house account with a rental property. When you add a house account, enter the original purchase price and the purchase date. Use the Zestimate feature regularly to enter the adjustments for any capital improvements or market value changes.

Notes

If you want to link a house account with a loan account, right-click the account name in the Account Bar, click Edit/Delete Account, and select the name of the loan account in the Mortgage Account list. Quicken can also help you add a loan account to track any amount you owe, and then add a loan to track the payment schedule, principal, and interest.

Loan

Loans

Add a loan account to track any amount you owe, the payment schedule, principal, and interest.