How do I add a business?

Overview

Quicken uses the information you enter about your business to group together your business transactions. If you want Quicken to display the transactions and deductions by business, you must add a separate business for each one.

This feature is only available in: 

• The Subscription Release of Quicken Home & Business
• Quicken 2017 Home & Business, or Rental Property Manager

Instructions

1. Click the Business tab.
2. Click the Business Tools button and choose Manage Business Information.
3. Click Add.
4. In the Business name field, enter a name.

• How does Quicken use this information?
  
  The name you type here distinguishes this business from other businesses in the Profit/Loss page in the Business tab and the Vehicle Mileage Tracker. It also appears in the Tax Schedule report and the Schedule C report.

5. In the Description field, enter a description for this business. (Optional)
6. In the Owner field, identify whether this business belongs to you or your spouse.

• Why does it matter who owns the business?
  
  The Tax Planner uses this information to distinguish the information for your business from the information from your spouse's business.

7. In the Business Tag field, enter the business tag for the business.

• What's a business tag?
  
  When you add a business to Quicken, you associate a tag with a specific business. Once a tag is linked to a business, it becomes a business tag that enables Quicken to group the transactions for the specified business in the Business Center snapshots and the Tax Planner. Quicken also groups transactions by business in the Tax Schedule report and the Schedule C report.
• Can I use the tags I add in the Tag List for my business?
  
  The tags you add to Quicken in the Tag list (choose Tools menu > Tag list) do not become business tags until you associate them with a business in this dialog. In case you want to do this, all available tags appear in the Business Tag list. You can also simply type the name of a new tag you want to use for your business directly in the Business Tag field.
• How do I use tags in Quicken?
  
  When you enter a business transaction in the register, be sure to enter the business tag for the business in the Tag field. If you're working in the transaction list, please note it doesn't include a Tag field, but you can enter the tag in the Category field using the format category/tag.

8. Select or clear the Untagged business transactions belong to this business check box.

• Help me decide
  
  You can designate one business to include all of the business transactions that do not have a valid business tag. When you do, Quicken automatically associates all business transactions without a business tag to the business you have selected this check box for.

  You can select this check box for only one business at a time. The first time you add a business to Quicken, Quicken automatically selects this check box, but you can clear the check box.

  If you are upgrading from a previous version of Quicken where you used classes to show which business a transaction belonged to, and you want to view your historical spending in the Business tab, selecting this check box can help you save the time and effort it takes to edit your historical transactions to include the new business tags. If you select this check box for the existing business with the most transactions, then you only need to edit the business transactions for the remaining businesses so that they include the tags that Quicken needs to separate your historical transactions by business.

9. In the Business Documents tab, add the documents pertaining to this business establishment. These could be your operating agreements, partnership agreements, tax-related documents etc. Click Attach to upload a scanned copy of your document. You can enter Notes that can be used to identify the document
10. Click OK.