downloading american express data into Quicken 2007

Downloading American Express credit card data is quite easy.
Certainly easier than downloading credit card data from some banks.

Amex seems to post transactions on a daily basis while Bank of America posts them for download only from your monthly statement.

Here's how to set it up:

1. Right click on one of your cash accounts on the left hand side bar (where accounts are listed)
2. Select add an account from the menu
3. type in american express in the institution box. Quicken will try to find a matching institution. Make sure you select american express.
4. Click next.
5. It will ask you for your website user ID and password (which you'll enter twice).
6. Quicken 2007 will then query American Express and find a list of accounts.
7. A window will appear offering to let you match the account(s) it found at the American Express web site with a pre-existing account you've already created in Quicken 2007.
8. TRICKY SPOT: If this is your first time tracking data from this account, scroll until you find new account. You will be prompted to enter the name of the account Quicken will use to track your Amex data; e.g. Amex Corp or Amex Biz
9. You can select the download option to download your transaction history.
10. Consider entering your American Express password into the password vault. It will allow you to download the data automatically using one step update.

If this is a business account where you are guaranteed reimbursement, you may want to add post-date deposits into your ledger followed by transfers to represent payments on your card.

If you don't pre-enter reimbursements it will negatively effect your net worth.

However, for cash flow purposes make sure you are conservative about when you will actually receive reimbursement.

Regards, makingourway