Computerized Farm Record Keeping with Quicken® 2002

Bulletin 897-02

Authors

John Barker
Extension Agent, Agriculture & Natural Resources
Knox County

David Miller
District Specialist, Farm Management
East District

Barry Ward
Extension Agent, Agriculture & Natural Resources
Champaign County

Contents

• Preface
• Our Disclaimer
• How to Use This Manual
• Introduction to Computer Records
  • What Quicken Can Do For You
  • Quicken Organization
  • Common Terms Used In Quicken
• Getting Started
  • First Time Into Quicken After Being Loaded Onto Your Computer
  • Creating Your First Data Folder and File
  • Deleting a Data File
  • How Many Files?
  • Upgrading to Quicken 2002
  • Program Option Settings for Quicken 2002
  • Setting Up the Main Toolbar
  • Quick Tabs
  • Backing Up Your Quicken Data
  • Exiting and Re-starting Quicken
• Accounts
  • Creating Your First Account
  • Setting Up New and Additional Accounts
  • Setting Up The First Checking Account
  • Getting Into An Account
  • Setting Up Your First Checking Account — An Example
• Categories & Classes
  • Setting Up Categories
  • Editing Categories
  • Deleting Categories
  • Subcategories
  • Merging Categories
  • Classes
  • Setting Up Classes
  • Editing And Deleting Classes
  • Subclasses
  • Printing the Category & Transfer List and Printing the Class List
  • Using A Pre-Defined Set Of Categories And Classes
  • Importing a QIF File
• Data Entry
  • Example 1: Making an Entry
  • Example 2: Correcting an Entry
  • Example 3: Voiding an Entry
  • Example 4: Using a Split Screen
  • Example 5: Entering A Rebate
  • Example 6: Sale of Various Classes of Livestock
  • Example 7: Split Transactions using the Calculator
  • Example 8: Memorizing a Transaction as Percentages
  • Example 9: Recalling a Memorized Transaction - Percentages
  • Example 10: Memorizing a Transaction as Amounts
  • Example 11: Recalling a Memorized Transaction - Amounts
  • Example 12: Create Liability (Borrow Money for Operating)
  • Example 13: Making a Loan Payment
  • Example 14: Create Liability — CCC Loan
  • Example 15: Cash Purchase
• Reports
  • Creating Reports
  • Customizing Reports
  • Quick Zoom
  • Memorizing Reports
  • Printing Reports
  • Types of Reports and Example Reports
    1. Register Report
    2. Transactions Report
    3. Transaction Report - Grain Sales by Class
    4. Tax Summary Report
    5. Tax Summary - Totals Only
    6. Cash Flow
    7. Cash Flow - by Quarter
    8. Profit & Loss Statement
    9. Profit & Loss Statement Report - With Percents
    10. Profit & Loss Statement by Class
    11. Profit & Loss Comparison
    12. Transaction Report - 1099's
• Reconciling
• Check Writing
• Year End File Management
  1. Archive
  2. Start New Year
  3. Copy
• Additional Quicken Topics
  • Budgets
    • Creating Budgets
    • Editing Budgets
    • Budget Report
    • Creating a Budget Report
  • CCC Loans
    • CCC Loans As Loans
    • CCC Loans Treated As Income
  • Credit Cards and Lines of Credit
    • Setting Up Your Accounts
    • Making Entries
    • Paying Your Credit Card Bill
    • Reconciling Your Credit Card Account
    • Credit Card Transactions In Reports
    • Debit and ATM Cards
  • Payroll
    • Bookkeeping Tasks For Payroll (Agricultural Employers)
    • Example Situation
      • Example
      • Categories Needed For Payroll Purposes
      • Accounts Needed For Payroll Purposes
      • Deposit of Employment Taxes
      • Creating Payroll Reports
        1. Summary Report by Employees for W-2's
        2. Form 943 - Employerıs Annual Tax Return for Agricultural Employees
        3. Ohio Department of Taxation Reporting
      • Quick Payroll
    • Payroll Report by Payee (table)
    • Monthly Federal Employment Tax Liability (table)
    • Ohio Income Tax Withholding by Quarter (table)
  • Purchase & Sale of Feeder Livestock
    • Categories and Accounts Needed
    • Example
  • Qualified Patronage Dividends
    • Categories and Accounts Needed
    • Example
  • Sale of Capital Assets
    • Categories Needed
• Analyzing Quicken Farm Records with FINPACK
  • Liquidity
  • FINAN, FINLRB, and FINFLO
• Appendix I Web Pages
• Appendix II Quick Keys

All educational programs conducted by Ohio State University Extension are available to clientele on a nondiscriminatory basis without regard to race, color, creed, religion, sexual orientation, national origin, gender, age, disability or Vietnam-era veteran status.

Keith L. Smith, Associate Vice President for Ag. Adm. and Director, OSU Extension.

TDD No. 800-589-8292 (Ohio only) or 614-292-1868