Computerized Farm Record Keeping with Quicken® 2003

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Accounts

Creating Your First Account

After your data file has been created, the easiest account to create is a cash account. You will track your cash receipts and expenditures in this account.

Quicken Guided Setup will aid you in setting up your first account. Under step 4 (Add Accounts), Click Cash Flow, Next Click the Add Account button next to the word Cash.

Enter NAME and DESCRIPTION. You can name your cash account something else if desired. The description is optional and is for your information only. Click Next to enter beginning information. The starting date for your cash account is January 1 of the current year. Use the calendar button to the right to reset the date to January 1 or type the letter "Y" to set the date to January 1. Click in the blank to the right of Amount: and enter the amount of cash you had on hand January 1. In most cases, zero is the amount entered for the cash balance. If the information entered is correct, Click Done at the bottom right of the window.

The name of your cash account now should be listed in the Account Bar on the Quicken Home Page. To open your cash account, simply point and Click on the name and the register will open. The register looks like a check register and is where you will enter your cash transactions.

Why have a cash account? First, to track the cash income and expenses that are incurred by the farm business. Cash family living expenses are also recorded in this register if desired. Second, you will get cash by writing a check, using an ATM card or depositing a check and keeping some of the proceeds as cash. When you get cash, the balance in the cash account will increase. Likewise, as cash expenses are recorded in the cash account register, the cash balance will decrease.

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