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Track your finances on the fly with Pocket Quicken (continued)
Entering transactions is very easy. When you start Pocket Quicken, you'll be presented with a list of accounts. Simply tap on the balance of the account you want to work with, and you'll be shown the register for that account, as seen in Figure C.
FIGURE C
The register looks just like the register in your checkbook.
Tap on the New button and select whether you want to enter a Payment, Deposit, or Transfer. Transfer is for moving money between accounts you track with Quicken. This is a nice feature because you only have to enter the transaction in one account and then the other account will be updated automatically.
Once you have selected the type of transaction, you'll see a form that very closely resembles the layout of a check, as you can see in Figure D.
FIGURE D
Entering a transaction is easier than writing a check.
You can enter the information manually or use the drop down menus. Once you've entered a transaction (e.g., $100 to Coop Electric Co. to pay your monthly electric bill), the transaction will be memorized. This is very handy because next month when you pay your bill, Pocket Quicken will recognize the payee (Coop Electric Co.) within the first several letters and offer to complete the entry for you automatically. If you tap on the down arrow to the right of the Pay field, Pocket Quicken will automatically fill in the name of the Payee, the amount you paid last time, and the category you used. If all this is correct, you just tap Done. This can make your bill paying very quick each month. Payments, Deposits, and Transfers all use the same form.
You can also split a transaction between multiple categories, just like you can in Quicken. So if you take $100 out of the ATM, but $50 is from your Groceries category and $50 is from your Entertainment category, you can easily enter it that way, as shown in Figure E.
FIGURE E
You can split each transaction between multiple categories.
New features A new feature in version 2.0 of Pocket Quicken is the ability to work with budgets.
Now, before you get too excited, you need to know that Pocket Quicken doesn't synchronize with Quicken's budgets. This feature works only within Pocket Quicken and allows you to set a budget amount for one or more categories and then monitor your actual spending versus your budgeted spending for the month, quarter, or year. You have to set up these categories one at a time. Those who are heavy users of Quicken's budget feature are likely to be disappointed with Pocket Quicken's variation. But again, keep in mind, this is designed to be an extension of Quicken, not a replacement. I think this feature is designed to help track a few priority or problem categories rather than track and plan your entire budget.
Visually, version 2.0 is a significant improvement from 1.0. The use of color makes it easier to read and use. Landware has added icons for certain functions that help clarify which direction data or funds are flowing. They have also added a pop-up calculator, pictured in Figure F.
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