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Old 01-14-2016, 11:43 PM   #21
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I use Quicken.

Each receipt is logged in Quicken, and each receipt is filed in a folder. One folder per month. At the end of the year, the receipts get boxed up and put in the closet for 7+ years.

I have had several warranty items over the years. Even if a purchase was made 5+ years ago, I can find it.
I've been looking at quicken for a while now. What quicken version would you recommend?


I see that the deluxe version is most popular according to Amazon and the Home and Business version has less than stellar review but it does separate business and personal transactions. Seems this would be a must have feature for small businesses. Any thoughts?


How much manual work is actually involved in quicken once all of your accounts are linked to it?
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Old 01-15-2016, 12:48 PM   #22
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I've been looking at quicken for a while now. What quicken version would you recommend?

How much manual work is actually involved in quicken once all of your accounts are linked to it?
I use Quicken Rental property Manager, but I only use the features of home and business I suspect. I need the ability to create invoices and track payments.

There is not too much manual work. About once a week I enter all my receipts into my Credit Card account. I manually reconcile the statement every month. I probably have 100+ receipts per month with the rental receipts.

If it's just for your`personal use, you can use a notepad. If you want to actually track expenses, you need something like Quicken.
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Old 01-15-2016, 03:02 PM   #23
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I'm in the same boat, most all of my sales are through paypal. Do you actually keep an inventory of all your parts and categorize your expenses monthly? Or do you just figure your inventory at the end of the year?
I just do a year-end inventory. While I could do monthly for inventory, no real need since a final year-end is easy enough and meets reqts. Same for monthly expenses and income, no need for this level of details. I just total it all up at year-end for the tax form. My volume and amount of money is close enough I can have a rough idea in my head, and since this is completely not any money I use for living, I just don't need an exact value - except for taxes
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Old 01-16-2016, 01:42 AM   #24
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Originally Posted by Senator View Post
I use Quicken Rental property Manager, but I only use the features of home and business I suspect. I need the ability to create invoices and track payments.

There is not too much manual work. About once a week I enter all my receipts into my Credit Card account. I manually reconcile the statement every month. I probably have 100+ receipts per month with the rental receipts.

If it's just for your`personal use, you can use a notepad. If you want to actually track expenses, you need something like Quicken.
That doesn't sound too bad, I shouldn't have near that many receipts.

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Originally Posted by 38Chevy454 View Post
I just do a year-end inventory. While I could do monthly for inventory, no real need since a final year-end is easy enough and meets reqts. Same for monthly expenses and income, no need for this level of details. I just total it all up at year-end for the tax form. My volume and amount of money is close enough I can have a rough idea in my head, and since this is completely not any money I use for living, I just don't need an exact value - except for taxes
That makes sense. My side gigs are for extra spending and investing money now but in about 6 years I will partly depend on them for living along with my pension. I figured the earlier I start developing good habits to keep track of them the better.
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