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24 Hours Income At Home Make Money At Home

14. Dec 2011 12:56, ikbiki

First, a credit card tracking reality check You may not need to use Money for tracking a credit card. You only need to use Money for credit-card record keeping if it is important to you to track your credit card balance and to track what you spend or charge at various merchants. This might seem like something everybody would want to do, but if you always pay off your credit card balance at the end of each month and donвЂ™t need to be concerned about your balance between payments, you wonвЂ™t need to track the outstanding balance. And if you donвЂ™t care where you charge, thereвЂ™s no compelling reason for you to track individual credit card transactions. Note: If you use Money to track a business credit card and you're organized as a C corporation, an S corporation, a partnership, or a limited liability company that's treated as a C corporation, an S corporation or a partnership, you may need to track credit balances if you include balance sheets with your corporation or partnership tax return. Setting up a credit card account If you decide to set up a credit card account, you can easily do so. If you used the Setup Assistant to prepare for using Money, you may have already set up a credit card account. Money, during the setup process, would have asked you about credit card accounts that you hold and whether you want to set them up for record keeping. If you answered questions about your credit cards during the setup process, youвЂ™ve already set up credit card accounts and can begin using them. If you didnвЂ™t set up credit card accounts as part of the Money setup process, you can easily do so by following these steps: 1. Display the Pick An Account To Use window. Click the Accounts & Bills link, and then select Account List. Money displays the Pick An Account To Use window. 2. Indicate that you want to set up a new account. Click Set Up Your Accounts in the list of common tasks. 3. Follow the New Account WizardвЂ™s instructions. To set up a new account, click Add A New Account to start the New Account Wizard. To set up your account, simply answer the wizardвЂ™s questions. NOTE You need to set up a separate credit card account for each credit card you want to track using Money. Recording a credit card charge To record credit card charges using Money, pick the credit card account you used and then describe the charge in detail, including the payee, the check date, and the amount. To record charges, take the following steps: 1. Display the appropriate account register. To display the register for the credit card account you used for the charge, click the account name listed in the Favorite Accounts area of the Money home page. If you donвЂ™t see the account listed, click the Accounts & Bills link and then select Account List to display a list of all your Money accounts. Then click the account you want. 2. Indicate that you want to record a charge. To tell Money to record a charge, first click the Charge tab in the transaction entry area beneath the account register. Then click the New button. Money opens up input boxes, or fields, in the transaction entry area that you use to record information about the charge. 3. (Optional) Provide the charge number. If you have a number that uniquely identifies the charge, enter this information in the Number box. 4. Provide the charge date. Select the Date box by either pressing the Tab key or clicking the mouse and then entering the charge date. Type a date using the regular date format, or click the boxвЂ™s button to display a pop-up calendar that you can use to select the date. To use the pop-up calendar, click the day you want to enter. Although the calendar displays only one monthвЂ™s worth of dates, click the arrows that appear on either side of the month name to move to the previous or upcoming month. NOTE Money also provides several codes that you can use to enter dates once the Date box is selected. Type the letter t to tell Money to enter todayвЂ™s date in the Date field. Type m to enter the first day or h to enter the last day in the current month in the Date box. Type y to enter the first day of the year or r to enter the last day of the year in the Date box. Notice that t is the first letter in the word today, that m and h are the first and last letters in the word month, and that y and r are the first and last letters in the word year. This bit of trivia should help you remember these codes. 5. Identify the merchant or business you are paying. Press the Tab key or click the mouse to select the Pay To box. Then enter the name of the person or business you are paying. Money keeps a list of all the people or businesses to whom you have previously written checks or with whom youвЂ™ve charged money on a credit card. To select a name from this list, click the Pay To boxвЂ™s button so that Money displays a list of past payees. Then select a name from the list by clicking. 6. Record the charge amount. Press the Tab key or click the mouse to select the Amount box. Then enter the charge amount. Or click the Amount boxвЂ™s button to display a pop-up calculator you can use to calculate the charge amount. 7. Categorize the charge. To categorize the charge, press the Tab key or click the mouse to select the Category box. Next, click the Category boxвЂ™s button so that Money displays a list of categories you can use to describe the reason for your charge. Then click the category you want. You can also record a subcategory for the charge. To do this, press the Tab key or click the mouse to select the Subcategory box. Next, click this boxвЂ™s button so that Money again displays a listвЂ”this time a list of subcategories. Then click the subcategory you want to select. NOTE The Subcategory box appears just to the right of the Category box. 8. (Optional) Record a memo description. You donвЂ™t need to record a memo description for credit card charges, but Money provides space for you to include additional information about a charge. If you want to collect this informationвЂ”and itвЂ™s not a bad ideaвЂ”press the Tab key or click the mouse to select the Memo box. Then enter any additional information you want to store in the field. 9. Record the charge. After you have correctly described the charge, click the Enter button. This tells Money to record the charge in the register. As soon as Money records the charge in your register, it also updates the account balance.