Lines of credit are used by many farm operations to pay operating and other expenses during periods when cash outflows exceed cash inflows. Credit cards used for the same purpose are becoming more common in farming operations. Both types of credit can be tracked within your Quicken farm records to help you know where you are financially at anytime.
Setting Up Your Accounts
It is recommended that you create a credit card account for each credit card and line of credit you have. Follow the instructions in the Accounts chapter to set up your new credit card account(s). The information required to create your credit card account is the same as the information needed to create a checking account, except that you can enter the credit limit established for each line of credit or credit card. While the credit limit is optional, it is recommended that you enter this information. With the limit established and the register for a credit card account opened, the balances shown at the bottom of the register include the amount of credit used and the amount of credit remaining for this particular account.
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