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Robert M.
Robert M., Consultant
Category: Financial Software
Satisfied Customers: 9107
Experience:  30 yrs. of computer experience in financial and marketing departments.
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Using Qucken 2015 Deluxe time. Understand how you can set up

Customer Question

Using Qucken 2015 Deluxe for first time. Understand how you can set up balance sheet accounts. How do you set up revenue and expense accounts?/
Submitted: 2 years ago.
Category: Financial Software
Expert:  Robert M. replied 2 years ago.

quicken doesnt really work that way. Its not a double entry book keeping system

it is more of a glorified check book

what are you using it for? You might be better off with quickbooks rather than quicken if you are trying to run a business off it.

but for personal finances quicken works quite well. but it keeps track of everything just as an entry in a check book and allows you to classify them and do all sorts of reports and budgeting. using the category function is what would tell you what each entry was for so you can use it for budgetting or tax purposes

it also has separate account types for things like loans or mortgages.

If you would like to call me i can try to explain how to do what you want to do with quicken or whether you are better off with quickbooks which is a true book keeping system with a general ledger.