Creating a New Data File in Microsoft Money

Use these directions to start a new data file in Microsoft Money, whether you need a separate data file to track expenses for an organization you volunteer for or you run Microsoft Money for the first time and there is no data file from a previous version.

Create a New Microsoft Money Data File

If you are running Microsoft Money for the first time, Money will take you through creating your first account and creating the data file.

If you have been using Microsoft Money and are starting a new file on your own, clicking on File in upper left hand corner, then New to create the new file.

You will be asked to name the file and it will be stored by default in your My Documents folder. If you are more experienced with and you wish to save the file in another folder, you may change the location from My Documents to your preference.

Passport and Windows Live ID

Depending on your version, Microsoft Money requires you to use or set up a Passport or Windows Live ID account. If you have an account, sign in with it at the Get Started screen.

Set Up Your First Account

Once a Passport or Windows Live ID account is established on a new file, Microsoft Money will give you the option of setting up a new account to get started. You will need the name of the bank you use most often and sign-in information if you have online account access through that institution. Entering the sign-in information will enable Microsoft Money to download transactions so you can avoid making manual entries.

Microsoft Money guides you through setting up the initial account:

1. Choose the account type (banking, credit card, investment).

2. Select the bank or brokerage. If you do not find your bank or brokerage listed, see My Bank Isn't Listed in Microsoft Money Account Set Up for instructions on proceeding.

3. If you choose the option to enter your banking sign-in information, the Account Sign Up screen will show a Terms and Conditions Agreement, click on Accept to allow Microsoft Money to accept your transaction downloads.

4. Now enter your bank access ID and password.

5. Microsoft Money will take a few minutes to download your transactions. When it is finished, you will see a Congratulations! screen. Click Finish to go to the Money home page, which is the start screen for the program.