Tell me about the business features in Quicken


If you purchased Quicken Home & Business, you can track personal and business accounts in the same Quicken file.

Start with your banking accounts

Think about how you want to track your finances, especially your checking and credit card accounts. The IRS advises business owners to keep business transactions completely separate from personal transactions. You can handle this three different ways in Quicken:

  • Add personal and business accounts in one data file, and then track both home and business finances in the same file. Be sure that your business checking, credit card, and other accounts are used solely for your business. This lets you track all your finances in one place and do tax planning for both employment and self-employment income. Use the standard business categories to track business-related transactions.
  • Set up separate Quicken data files for your home and for your business. The drawback of this is that you can't see your overall finances in one place.
  • Mix business with personal data in the same checking account. Use both categories and tags to distinguish between business and personal transactions. (This isn't recommended, for tax reasons.)

Getting started

Begin by deciding which Quicken accounts you need in order to track your business.

You can also create customer estimates, invoices, and statements; track accounts receivable; enter customer payments; and track accounts payable. You can also create several business reports such as balance sheets, Profit and Loss Statements, unpaid invoices, accounts receivable reports, and accounts payable reports.

Overviews

Tell me about managing business information
Tell me about managing accounts receivable
Tell me about creating and tracking projects and jobs
Tell me about designing business forms
Tell me about working with estimates and invoices
Tell me about managing payments and returns
Tell me about tracking sales tax
Tell me about managing bills and accounts payable
Tell me about projecting cash flow (business)
Tell me about tracking business profitability
Tell me about creating business reports
Tell me about tracking mileage
Tell me about dealing with business taxes
Tell me about finding more small business help

This feature requires Quicken Home & Business or Rental Property Manager. Learn how you can upgrade Quicken in minutes.

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Tip: To find out which version of Quicken you are using, open Quicken go to Help menu and select About Quicken.