welcome to our course on QuickBooks home finance for personal use this is video number one why
QuickBooks and not quicken many people have asked if quicken is meant for home finance why should
I use QuickBooks well it turns out QuickBooks is actually better QuickBooks is better because it is
more commonly used and therefore more people know it and it's easier to get help with tutorials and
other kinds of resources another reason is that in QuickBooks you can set it up so that there's
nothing irrelevant in front of you to distract you many people feel that they're just going
to take the results of what's in QuickBooks or Quicken and send it to their tax accountant and
there's no reason to clutter up the program with taxes they also don't need a software to tell them
how they should spend their money and the goal setting section is distracting and most people
don't use it the tools in QuickBooks QuickBooks are more straightforward and clear there are more
features available to find the things one needs you will need the following information to set up
your QuickBooks file for your personal finance and it's common sense you will need the name of each
bank account and the current balance you will need the name of each credit card account and
the current balance you will need a list of all your expenses this is your personal expenses like
veterinary bills for your pets or school supplies or if you want to keep track of how much food you
buy at the supermarket those things would be on your list you should also have a list of your
income sources some people work two jobs or work at a job and have a part-time business and you
should separate each income source so that you can see where your money is coming in from you should
also have a list of the people whom you pay on a regular basis for the services and products that
you need such as your housekeeper the name of your grocery store the name of your local gas station
and all of the different people or places where you spend your money QuickBooks will be able to
show you more clearly where your money is coming in from show you more clearly where your money is
going out to show you your income and expense and account balances between specific dates this way
you can determine which month or which week was better for you financially it'll also show every
payment for a particular expense very easily as well as every payment to a particular person or
company this is in case you have any kind of dispute or issue with that person QuickBooks
makes the information very easily available you can also connect one of the transactions that
you record into QuickBooks with a hard copy document for example if you bought something
with a receipt and you're afraid you will lose the paper receipt you can take a picture of the
receipt with your phone copy the picture into quick put into your computer as a file and then
when you record buying the item you can connect the transaction that you record it for buying the
item with the picture of the receipt this way if you lose the the physical receipt you could look
in QuickBooks and find the transaction and print out a copy of that receipt it's that
simple you could also find any transaction to or from anybody instantly and you'll never be
lost everything will be right in front of you just follow the video step by step we will use only the
features and QuickBooks that you need for home finance nothing more these are all very simple
features they require no computer knowledge and it makes managing your home finance better than
any other way you can so sit back relax and enjoy the course and thank you for watching