Downloading bank info into Money or Quicken?

Discussion in 'Business Operations' started by walker-talker, Dec 27, 2005.

  1. walker-talker

    walker-talker LawnSite Platinum Member
    from Midwest
    Messages: 4,771

    My current bank offer this service. I am in the market for a new bank and noticed that they too offer this service and even have "Quicken Banking" & "Microsoft Money Banking" titled accounts.

    Has anyone used this service from their local bank and has it helped identifying cash flow?

  2. Envision

    Envision LawnSite Member
    Messages: 126

    I use the money download aspect for my personal accounts. As long as you have MS Money, you hit the download button, tell it what account it correlates with in Money and it inputs them. It will match transactions you manually put in there with ones online or make new ones if it can't match them. I use it for my bank accounts and my credit cards. From there, Money is a powerful tool to analyze cash flow since each transaction falls into an account and you can see where you are blowing your money.

  3. RyanD

    RyanD LawnSite Member
    Messages: 178

    I agree with envision. I have Quiken. You can create reports to help you understand your business better. With Quiken (probably money also) you can tell it what tax form each expense goes on and at the end of the year it will help you with taxes. I think it is well worth the money.
  4. mtdman

    mtdman LawnSite Gold Member
    Messages: 3,143

    I download my activity to my quickbooks from my checking accounts. It reads it right into the account register. It remembers the accounts that certain transactions go to and automatically parses the various transactions to the proper accounts. I love it because I am really bad about keeping my account registers accurate in quickbooks. Very simple and easy to use.
  5. Terra-Turf

    Terra-Turf LawnSite Member
    Messages: 22

    You can also download your Credit Card transactions into Quicken as well. I do this with my American Express Business card. I don’t try to keep up with petty cash expenses; I just put it on the card and save receipts. At the end of the month I have a fairly detailed listing of all my business transactions which I download into Quicken Home & Business.

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