How to Set Up Microsoft Money
with
Don Schechter
After doing the research, you finally decided to buy Microsoft Money. Now what? This video tutorial shows you how to set up Money and perform some basics tasks.
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Transcript: How to Set Up Microsoft Money
Hi, I'm Don Schechter for About.com Money. Today I'll show you how to set up Microsoft Money.Requirements for Using Microsoft Money
Before you begin using Microsoft Money, you will need:- a PC running Windows XP or Vista
- an Internet connection
- enough space to download a version of Microsoft Money from the company's Web site
Choose a Version of Money to Download
There are a few different versions that you can choose from. I have downloaded Money Essentials, but as you can see, if you want all of the different features, you should go with the home and business version.Setting up accounts and other basic functions will be available on any Microsoft Money program. Carefully read over the Web site to see which version would be best for you.
Use the Online Feature of Money
When I first open Money, I have to type in my Windows Live ID and password, which protects any sensitive financial information by encrypting information that is transmitted over the Internet.It's also helpful because it provides access to online features in Money. If you don't want to use the online feature or Windows Live ID, check the box at the bottom to sign in directly without online features. Then click 'next.'
View Accounts in Microsoft Money
Money will always open up on the home page, where you can set up bills and deposits, spending reports, or your spending tracker.To view your accounts, click the Banking tab. Your account list will appear with the total amount in each.
On the left sidebar there are options to edit your account list by adding a new account, sorting the list, or paying bills.
Under the account tools drop down menu, you can view your account register where your transactions are located. You can also view a list of payees, which are people or organizations you pay money to.
Adjust Settings in Microsoft Money
Click on 'Bills' to view a summary of your bills. If you haven't linked your online banking account to this program, you may want to do it at this time.Keep in mind that you have options to control Microsoft Money on the top. You can go to file password manager to change or remove your Windows Live ID.
You can import a downloaded statement, or under Tools, bring up a calculator. Or choose settings to adjust everything from how often you back up your files to your display settings.
Thanks for watching. For more information please visit us online at money.about.com.