Once you choose which balance you want to reconcile against, Quicken displays the Reconcile Bank Statement area. You use this area to indicate which transactions have cleared the bank. As you do, Quicken calculates a cleared balance figure at the bottom of the screen. When this amount equals the statement balance, you’ve reconciled your account. (more…)

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In the next dialog box, click the E-Mail about Online Account option button to send your bank a message regarding its online banking services. After you click OK, Quicken opens the Message To [Your Financial Institution] dialog box. Fill in the text boxes to identify yourself, the subject of your message, and the account in question. Enter your message. To send your message, click OK. (more…)

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4. Send your account instructions.

Click Send. Quicken connects to the bank and transfers the information from your computer to the bank. At the same time, online banking retrieves transactions from your bank and picks up any new transactions it can’t find in your register. Online banking also indicates which transactions have cleared the bank. (more…)

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One final comment: Some financial institutions do not process transfers electronically; instead, they process the transfers manually at central clearinghouses. This procedure may cause a time lag between the time you send your transfer in and the time the bank actually processes it. (more…)

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Once you’ve set up an account for online account transfers and online statements, using these online banking features is quite simple. The paragraphs that follow describe how these activities work in Quicken, but other accounting programs such as Microsoft Money and QuickBooks work in a similar fashion. (more…)

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