Quicken FAQ
What is Quicken and why are we using it for AGWM financial reporting?
Quicken is a commercial product that is used for bookkeeping, money management, and financial reporting. Because it is so widely used and
because of the simplicity in basic bookkeeping with it, AGWM has decided to use Quicken as the base financial computer program and augment it
with template files specifically designed to help missionaries with their financial reporting.
How do we use Quicken for AGWM financial reporting?
With the help of the templates we have designed, you should have no problems keeping track of your AGWM moneys and turning in Quarterly and
Itineration Reports.
Can we “do our own thing”?
While we recommend and support Quicken, we do understand that there are those who are experienced enough with various programs and
financial packages other than Quicken who wish to use those programs and packages. Microsoft Money is a good example. Also, there are those
who have modified general use programs to use for AGWM financial reporting. Greg Preston has developed a Deputational Worksheet in Excel,
for example. As long as AGWM Financial Services is happy with your reports, there is not a requirement that you switch to Quicken.
Where can we get Quicken?
Quicken is available at most stores that sell general software. Wal-Mart, Best Buy, Circuit City and Staples are examples in Springfield of stores
that sell Quicken.
Where can we get the templates?
AGWM has made copies of many helpful applications and files for computer and technical support available for all of our missionaries at School of
Missions. The Quicken Templates are available on this CD, or you can contact Jimmie Frantz for a copy of them.
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I’ve never used anything like this at all. Is it hard to learn?
Quicken is the easiest program of this type. It is very user friendly and very adaptable. We would suggest going through the video help clips on
the Quicken CD if you have never used a program like this before, just to see how easy and powerful Quicken is.
Can I use Quicken for my personal finances as well?
Yes. Unless you are very familiar with Quicken, however, we would recommend that you not attempt to keep both personal and AGWM finances
in the same account on Quicken.
What about keeping track of gasoline during Itineration?
If you were to track each and every gasoline purchase in Quicken during a period of Itineration, you would likely end up with a whole page of
nothing but gasoline purchases. By keeping a gasoline log, you can make one entry at the end of the month. Then include a photocopy of your
gasoline purchase log with your Itineration Report.
The memo line is awfully short. How can I give a good description of an expenditure?
If you need to provide a description of an item in your report that exceeds three or four words, simply put something like “See memo #1” and
attach a separate sheet of explanations to your report.
Does Quicken support multi-currency and currency conversion?
Yes. Quicken’s multi-currency support started with their Quicken 99 package and has continued to improve with each version of their software.
Quicken also has a very nice one keystroke currency conversion system.
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Do I need Quicken or Quickbooks?
Quicken is the software package for personal and home business use, the category that most missionaries would fall into. Quickbooks is for small
businesses. Some institutions and schools might require Quickbooks for their finances. AGWM recommends Quickbooks in those cases, but our
support is not as comprehensive as our support for Quicken.
Is there anything else we should be aware of when using Quicken?
When sending in your Quarterly Report, please make sure that your name and AGWM account number are easily available for the Financial
Services Specialist who will be processing your report. Quicken does not provide a way to put your name and account number on the reports, so
you may want to write it on the “Quarterly Report” that you print out, and on the first page of the “Itemized Listing of Income/Expenditures” that you
print out.
When using Quicken for Itineration reporting, remember that the report you print out is only a worksheet to be used to fill out the blue and white
forms you receive from AGWM Financial Services. The blue and white form is required for audit purposes to be filled out and sending in the
Quicken printout does not provide what is required.
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Instructions for Using
Quicken
With AGWM Templates
One of the challenges facing missionaries on the field and while itinerating is finding a way to keep track of income and
expenditures in a complete yet simple way. We believe the commercial product Quicken provides the basis of such a
system. Using the templates provided by AGWM, even missionaries with limited computer and bookkeeping experience
should be able to track work funds and give concise, accurate, and timely reports with a minimum of training and
instruction. Another advantage of using this system is that it will not hold back missionaries with more computer and
accounting experience from adding new report templates to meet their own needs.
After acquiring a copy of the Quicken program, you should request a CD with preset files for tracking quarterly report
information, SDR report information and itineration report information (the template disk). Following are instructions
designed to take a beginning computer user through the whole process of filling in the proper information and printing out
a report to send to their accounting clerk at the appropriate time. After going through it once, we hope the process will
seem simple and intuitive to you.
ITINERATION REPORTS
Step 1.
Load Quicken onto your computer. Follow the instructions that come with
Quicken and, if unfamiliar with the program, take the tour that comes with the CD.
Step 2.
Restore the Itineration template from the template disk. Go to the {File} menu and select {Restore Backup
File}. Select the D drive and choose the Itineration file. After you have restored it, go to the {File} menu and
{Open} the Itineration file.
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Step 3.
Select the Itineration account. This will open up your Itineration register, which is where you will do most of
your work.
Step 4.
Change the date of the Opening Balance to match the new month. Enter your Opening Balance for the new
month, as a deposit for a positive balance or as a payment for a negative one.
Step 5.
Every time you have income or expenses you need to report for Itineration, note it on the next line of your
Itineration register. Enter the Payee or Payer and the amount that was either paid from or deposited to your
account. Also note the Category this was paid from or to as this is how the worksheet will work. The memo
section should be kept as short as possible. If there is a lengthy explanation, please put something like “See
note #1” and include these notes for your accounting clerk on a separate but clearly marked sheet included
with your report. For mileage expenses, you should put the mileage used in the memo section and
put the reportable amount in the payment section. An alternate way to do this is to keep and submit a
detailed mileage log and report all mileage in one entry.
Step 6.
Print out the Monthly Worksheet by Category. Go to the {Reports} menu and choose {Memorized Report}.
Change the dates in the report field to match your month and then double-click on the Monthly Worksheet by
Category. Print the Worksheet out and transcribe the totals and subtotals to the blue Itineration Sheet
given to you by AGWM Accounting. Send in the report, worksheet, receipts, and any notes and/or logsheets
to AGWM.
QUARTERLY REPORTS
Step 1.
Load Quicken onto your computer. Follow the instructions that come with
Quicken and, if unfamiliar with the program, take the tour that comes with the CD.
Step 2.
Restore the Quarterly template from the template disk. Go to the {File} menu and select {Restore Backup
File}. Select the D drive and choose the Quarterly file. After you have restored it, go to the {File} menu and
{Open} the Quarterly file.
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Step 3.
Select the Quarterly account. This will open up your Quarterly register, which is where you will do most of
your work.
Step 4.
Change the date of the Opening Balance to match the new quarter. Enter your Opening Balance for the
new quarter, as a deposit for a positive balance or as a payment for a negative one.
Step 5.
Every time you have income or expenses you need to report for the Quarter, note it on the next line of your
Quarterly register. Enter the Payee or Payer and the amount that was either paid from or deposited to your
account. Also note the Category this was paid from or to as this is how the report will work. The memo
section should be kept as short as possible. If there is a lengthy explanation, please put something like “See
note #1” and include these notes for your accounting clerk on a separate but clearly marked sheet included
with your report.
Step 6.
Print out the Quarterly Report. Go to the {Reports} menu and choose {Memorized Report}. Change the
dates in the report field to match your quarter and then double-click on the Quarterly Report. Print the report
out and follow the above to print out the Itemized Listing of Income/Expenses. Send in the report, the
itemized listings, receipts, and any other items that your clerk is requesting to AGWM.
Step 7.
Clean up. There is a simple way to keep using the same file for your next quarter. After you have printed
out and mailed off everything you need from the current quarter, make one last entry for the last day of that
quarter. Balance your account to zero. That means either add or subtract whatever you need to have your
register read $0.00. Then make an entry for the first day of the new quarter. Have it read Beginning
balance and enter your ending balance of the previous quarter, either a deposit for a positive amount or a
payment for a negative account. Choose the Beginning Balance category and then proceed to step 5 again.
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Step by Step Instructions for using Quicken Templates
Each step corresponds with the each of the 15 following screen shots. Make sure that the disk containing the templates is in the proper drive and
then start Quicken.
1.
Click on the File menu selection and select “Restore Backup File”.
2.
Select the proper drive. Drive D if using a CD, drive C if you have saved the templates to your hard drive.
3.
Select the file for the type of reporting you wish to do.
4.
After it has restored the file, click on the File menu selection and select “Open”.
5.
The newly restored file should be available. Select it and click OK.
6.
This is the entry screen for your Quarterly Report file. To access the register, where you will do all of your entry, click “Missionary Budget”
under “Set Up Banking Accounts” in the main area of the screen.
7.
This is your main register page. The Opening Balance entry has been started for you. Change the date to correspond with the beginning
of the quarter you wish to report on.
8.
Once you have made sure the date is correct, enter your beginning balance in the deposit area if a positive amount and in the payment
area if a negative amount.
9.
Now click on the Category area. A drop down menu will appear with all of AGWM’s categories for reporting. Select Begin Balance under
the income area regardless of whether your amount is positive or negative. Then hit enter to move to the next entry.
10.
Each entry must have a Payee, a Category, and either a Payment or Deposit entered. All categories are available from the drop down
menu that appears when you click on the category area.
11.
Don’t forget to enter information in the memo area that you might need later or that AGWM Financial Services might need to see.
Continue your entry until the end of the reporting period.
12.
When you have completed all of your entry for a reporting period, click on the Report menu selection at the top of the main screen. Select
“Memorized Reports and Graphs”. For Quarterly Reports, there are two available. Select which one you wish to print first.
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13.
Make sure that you change the date fields to reflect your reporting period and click on Update. Then click on Print near the top of the main
screen in order to print out this report.
14.
For the Quarterly Report, you will then need to click on the Report menu selection again, select “Memorized Reports and Graphs” and
select the other report.
15.
Make sure that you again change the date fields to reflect your reporting period and click Update. Click on Print near the top of the main
screen in order to print out this report. (For “Itemized Listing of Income/Expenditures”, you should choose landscape for paper
orientation.)
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