Creating a budget

acha
acha Member
edited January 7 in Before you Buy
I want to link my Bank of America checking account and my American Express Account in quicken. My BOA has income coming in and pays all bills like phone, electric etc. It also pays my American Express which has expenses like gas, restaurants etc. The Amex also gets paid from two other external accounts (my wife's account and a business account which are different from the BOA account).
Questions 1. Can the BOA and Amex account be linked through the web.
2. Can I run a report to see how much I paid for my pet insurance, this is on the Amex. Can I run a report to see the electric bill (this is on BOA).
3. Once a transaction is tagged say as Restaurant, can all future transactions by the same vendor be categorized correctly.
4. Can I download through the web all transactions from Jan 1 2022 through Nov 30, 2022 and then in the future it will just update with new transactions.

5. I own quick books and found it to be a pain to use for this purpose - is quicken better?
Thanks
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Best Answer

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Answer ✓
    I think the answers to all your questions is a qualified Yes.

    1. Quicken is primarily a desktop product. So if you mean Can BoA and Amex transactions be downloaded to Quicken, the answer is Yes.

    2. Yes.

    3. The terminology in Quicken would be Once the Payee for a transaction has been Categorized as a Restaurant, all future transactions for that Payee can be automatically assigned the same Category.

    4. Financial Institutions differ in how far back you can download transactions. It might be 30 or 60 days, or a year or more. Then in the future it will just download the new ones.

    5. I think you will find Quicken to be better for personal finance applications like you describe. It has a 30 day money back guarantee so if you try it and don't like it you can get your money back 


    QWin Premier subscription

Answers

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Answer ✓
    I think the answers to all your questions is a qualified Yes.

    1. Quicken is primarily a desktop product. So if you mean Can BoA and Amex transactions be downloaded to Quicken, the answer is Yes.

    2. Yes.

    3. The terminology in Quicken would be Once the Payee for a transaction has been Categorized as a Restaurant, all future transactions for that Payee can be automatically assigned the same Category.

    4. Financial Institutions differ in how far back you can download transactions. It might be 30 or 60 days, or a year or more. Then in the future it will just download the new ones.

    5. I think you will find Quicken to be better for personal finance applications like you describe. It has a 30 day money back guarantee so if you try it and don't like it you can get your money back 


    QWin Premier subscription
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