New Company File

TooKaa

I created a New Company File and a new icon appeared on my desktop. When I went back to my old company file all the information was gone. Help

splasher

TooKaa said:

I have 2 Quicken Icons on my desktop. Each Icon opens a different company. Is this the correct way to set up two different companies using Quicken.

It is one way, they could also be in the same file, but using separate files is the cleanest, simplest method.
I have to add one word to thecreator's comments, the word "should".  Quicken data files SHOULD be stored in the Quicken folder under Documents, but they don't have to be.
I would move them and the BACKUP directory that will also be on your Desktop to the Quicken folder, then you can browse to them using the File->Open Quicken File, once that is done, they will be in the recent file list at the bottom of the File menu.
If you like having the icons on the Desktop, create shortcuts (on the Desktop) to the data file in their Quicken folder location.  That way the data is not on the Desktop, but you can use the icon to open the appropriate data file.

volvogirl

Yes you can do it that way and have 2 separate data files.  It mainly depends on how you report them on your tax return.  If they are both self employed businesses and go on Schedule C in your personal return you normally should have them in the same data file with your personal accounts.  But either way is ok.

UKR

TooKaa said:

I have 2 Quicken Icons on my desktop. Each Icon opens a different company. Is this the correct way to set up two different companies using Quicken.

Yes and No.

Yes ... because what you refer to in Quickbooks as Company Files are Quicken data files. One file for each separate set of company books. You can have as many separate data files as needed.

No ... because the default and recommended location for Quicken data files is in the C:\Users\_your_username_\Documents\Quicken folder and not on the Desktop C:\Users\_your_username_\Desktop
I recommend you move the data files and any folders created by Quicken on your Desktop (e.g. Backup) to the \Documents\Quicken folder, to unclutter your Desktop. Quicken must be closed when you move files around.
In Quicken you can find the two data files at the bottom of the File Menu. That allows for easy switching between the two companies (You cannot have both companies' files open at the same time. Sorry.)

splasher

More info needed. 

Which version of Quicken?  Help->About Quicken

What type of "new icon"? 

What is shown in the Windows properties?

TooKaa

Thanks for your reply. I was able to restore Company 1 using backup files. So now I have two icons on my desktop named Company 1 and Company 2. Company 1 has 6 years worth of data just restored. Company 2 is newly created with no data. Can I operate these two independent companies without a problem? I'm used to operating in QuickBooks so setting up a second company in Quicken is new to me. Thank you.

thecreator

Hi @TooKaa ,

See this FAQ: https://community.quicken.com/discussion/7307115/add-your-quicken-information-to-your-posts-plus-how-you-are-connected-to-the-internet

You have not given any information or Build information.

Quicken Data Files are stored within Documents\Quicken folder, not on the Desktop of the User Account Desktop of the operating system.

Quicken is not QuickBooks.

TooKaa

I have 2 Quicken Icons on my desktop. Each Icon opens a different company. Is this the correct way to set up two different companies using Quicken.

splasher

TooKaa said:

I have 2 Quicken Icons on my desktop. Each Icon opens a different company. Is this the correct way to set up two different companies using Quicken.

It is one way, they could also be in the same file, but using separate files is the cleanest, simplest method.
I have to add one word to thecreator's comments, the word "should".  Quicken data files SHOULD be stored in the Quicken folder under Documents, but they don't have to be.
I would move them and the BACKUP directory that will also be on your Desktop to the Quicken folder, then you can browse to them using the File->Open Quicken File, once that is done, they will be in the recent file list at the bottom of the File menu.
If you like having the icons on the Desktop, create shortcuts (on the Desktop) to the data file in their Quicken folder location.  That way the data is not on the Desktop, but you can use the icon to open the appropriate data file.

volvogirl

Yes you can do it that way and have 2 separate data files.  It mainly depends on how you report them on your tax return.  If they are both self employed businesses and go on Schedule C in your personal return you normally should have them in the same data file with your personal accounts.  But either way is ok.

UKR

TooKaa said:

I have 2 Quicken Icons on my desktop. Each Icon opens a different company. Is this the correct way to set up two different companies using Quicken.

Yes and No.

Yes ... because what you refer to in Quickbooks as Company Files are Quicken data files. One file for each separate set of company books. You can have as many separate data files as needed.

No ... because the default and recommended location for Quicken data files is in the C:\Users\_your_username_\Documents\Quicken folder and not on the Desktop C:\Users\_your_username_\Desktop
I recommend you move the data files and any folders created by Quicken on your Desktop (e.g. Backup) to the \Documents\Quicken folder, to unclutter your Desktop. Quicken must be closed when you move files around.
In Quicken you can find the two data files at the bottom of the File Menu. That allows for easy switching between the two companies (You cannot have both companies' files open at the same time. Sorry.)