About the business features in Quicken

If you purchased Quicken Business & Personal, you can track both personal and business finances in the same Quicken file. Quicken includes tools for invoicing, tracking income and expenses, managing payments, and generating business reports.

Start with your banking accounts

Before you begin, decide how to organize your checking and credit card accounts. It's best to keep business and personal transactions separate, especially for tax purposes. You can manage your accounts in one of the following ways:

• Use one Quicken file for both personal and business finances.
  Add both types of accounts to the same file, but use separate accounts for business transactions—such as a dedicated business checking or business credit card account. Assign standard business categories to your transactions to ensure accurate reporting.

• Use separate Quicken files for personal and business finances.
  This approach keeps your records completely separate but does not allow you to view your overall financial picture in one place.

• Use the same account for both personal and business transactions.
  If you choose this option, use a combination of categories and tags to distinguish between personal and business transactions.

  Note
  This method is not recommended because it may complicate tax preparation.

Get started with business features

Once your accounts are set up, you can use Quicken's business tools to manage your day-to-day activity and generate reports.

With the Business tab, you can:

• Create customer estimates, invoices, and statements.

• Track accounts receivable and record customer payments.

• Track accounts payable and manage vendor payments.

• Run business reports, including:

  • Profit and Loss Statement

  • Balance Sheet

  • Unpaid Invoices

  • Accounts Receivable

  • Accounts Payable

These tools help you monitor your cash flow, stay on top of what customers owe you, and prepare for tax season.

Note for our Canadian Customers

The following terms will be different in the Canadian releases of Quicken.

Canada: "Cheque" / United States: "Check"
Canada: "Colour" / United States: "Color"
Canada: "Centre" / United States: "Center"
Canada: "Realise" / United States: "Realize"
Canada: "Behaviour" / United States: "Behavior"
Canada: "Analyse" / United States: "Analyze"