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No Business Expense Categories?
I've been using Quicken Premier for three years now and I just started my own consulting and independent agent company. I bought the H&B program and loaded up my business checking and credit card accounts. My problem is that when I try to enter categories for those transactions, there are no options to choose from. There are suggestions for personal expenses, but no loaded options for Business Expenses. Do I have to create these myself? If so, any guidance on how to set these up?
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Best Answer
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J_Mike SuperUser ✭✭✭✭✭
QWin has a builtin list of Business categories that you can use.
From the menu bar Too;s > Category List
Lower left select Options > Manage Categories
Under Available Categories select Business
You can now add the desired income/expense categories.
QWin & QMac (Deluxe) Subscription
Quicken user since 19916
Answers
One thing I do know.....
To be included in business reports (and I don't know where else) you have to assign the category to a schedule C tax line item number. To check the tax line assignment open the Category list by either clicking on the Category Icon or go to Tools-Category List or Ctrl+Shift+C. Then select the category and right click on it to Edit it. Click on the Tax Reporting Tab and check the box for Tax related and pick a Schedule C: tax line item.
From the menu bar Too;s > Category List
Lower left select Options > Manage Categories
Under Available Categories select Business
You can now add the desired income/expense categories.
Quicken user since 1991
If you include a company category with tax expense lines as a subcategories, don't forget to assign the company category to a tax line to include it in the Business Expense category group. See first image.
+1 on @volvogirl instruction to tie cats and subcats to a tax line - vital.
For comparison, I believe the default business categories are shown below. If you want to rework these into something similar to my first image. you can make use of the edit>details tab to tweak on the name and category structure.