Using Quicken 2007 and Web Connect

Teaching Tool 30E: Quicken 5 – Using Web Connect

Quicken 2012

Personal Finance: Another Perspective

Some of you will have a bank that does not allow direct connection to Quicken, but will have a Web Connect option. For example, Wells Fargo currently charges $3 per month to use Direct connect, but will allow Web Connect for no charge. This memo is to help you use Web Connect and not have to pay the $3 per month service charge. I recommend that you use a financial institution that allows Quicken direct connect for no charge. Some financial institutions require a minimum asset size for this benefit.

Web Connect

Web connect is a method of getting information from the bank through their website. In Wells Fargo, log on to your account, and go to Account Services. Under Account Information, select Download Account Activity. Choose an account, and then select your date range. (Wells Fargo generally only lets you get the last 90 days of data.) Pick your file format, as Quicken, and click on Download.

When the Box opens, click on Save. I would create a directory on your computer called Quicken Data, and save it with the following changes: 1. Use a code for the bank and the account type, i.e., WF Checking for Wells Fargo Checking account. Then add a suffix, which would be year, month, and day, i.e., September 18, 2008 would be 20080918. The full file name would be WF Checking 20080918. That way you will know the last date you downloaded data using this method.

Go to Quicken, and then go to the WF Checking account. Click on File, Import, Web Connect File, and go to the Quicken Data directory. Click on the file you downloaded with today’s date to import that file.

The next time you update your information, look at the date on the last file. That date would be your starting date, and today’s date would be your end date. You would then follow the same format as listed above.

Disclaimer

The purpose of this material and this class is to help you get your financial house in order and to help you on your road to financial self-reliance. If there are mistakes in this material, please bring them to our attention, and we will correct them in upcoming versions. The teacher, and BYU, specifically disclaim any liability or responsibility for claims, loss, or risk incurred, directly or indirectly, by using this material.

- Page 1 of 1 -