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Creating Your First Data Folder and File
The CREATE QUICKEN FILE window now opens. The folder appearing in Save in: is the folder where Quicken 2003 is located. At this point there are 15 folders within the Quicken 2003 folder.
In the upper right corner of the CREATE QUICKEN FILE window, there are four icons.
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Point to each icon and a description will drop down. Point to the one that says CREATE NEW FOLDER and Click. NEW FOLDER will appear in the list of folders and will be highlighted. Type DATA to replace NEW FOLDER. Click off to the side and away from the list of folders. After DATA is one of the folders, Double Click on DATA folder to put DATA in Save in:. The DATA folder is where the file containing your record data will be saved. Creating and using a DATA folder for your data file is not absolutely necessary, but by using a DATA folder your data is separate from the program folders and easy to locate on your computeršs C drive.
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Click in the blank to the right of File name: to get the cursor in the blank. Now Type in a name for your data file. A suggestion would be to use your last name or your business name as your data file name.
Click OK to close the CREATE QUICKEN FILE window. The program will then create your named data file and open the QUICKEN GUIDED SETUP window.
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Since we will lead you through setting up the program, Click Exit Setup in the lower left of the screen. Click YES when prompted "Are you sure you want to leave Quicken Guided Setup?" The program will now take you to the QUICKEN HOME PAGE.
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On the menu bar Click Tools, Click Category List to view the categories contained within your data file. When creating a new data file, Quicken creates a large number of family living categories plus income and expense categories for non-farm businesses reporting on Schedule C.
While some family living categories are needed to keep track of your business and family finances, there are probably more categories than needed. Since most farms also have off-farm income, the non-farm income categories at the top of the list, listed as income under the type column, can be left on the list. Examine the family living expense categories to determine if you want to use any of these categories. To delete any family living categories and the Schedule C categories, go to the Deleting Categories section of the Categories and Classes chapter for instructions.
One category on the list that should definitely be deleted is the category "Cash." We will create a Cash Account later that will be used to track cash income received and expenses paid by cash. Keeping "Cash" as an expense category creates confusion.
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