Categorize By Account

SGordon0211

Hi!

Say I have separate online business and personal credit card accounts, and I have a payee I deal with for both business and personal reasons.

Am I correct that I can have only one categorization rule that would cover both accounts and thus would place each transaction into only one category?

Or is there a way to create two separate categorization rules, one for each account, that would place each transaction into the appropriate category depending on which account the transaction appears in?

Thanks in advance.

MontanaKarl

You cannot create account-specific rules for a payee, unfortunately.  It seems a reasonable feature request.

Just checking:  is your business one that you file as a Schedule C, E or F on your personal 1040?  If not... that you file a separate business tax return ...then the business account(s) should be in their own separate Quicken (or QuickBooks) file anyway... which would resolve the issue.

NotACPA

@MontanaKarl a small  business that files it tax return on the User's Sched C,E, of F can EASILY be used in the same Q data file as the User's personal data.

That's because, unless the business is separately incorporated, the IRS will usually view the business and the person as being "one and the same".

This is the primary reason why Q created the "Home & Business" version of Quicken Windows.

Unfortunately, there's no H&B version of QMac, so the user would just need to set up appropriate business categories (with appropriate tax lines assigned) and be diligent about when to use the Business vs. Personal categories. 

BTW, any category that doesn't have a Business tax line attached is considered to be a Personal category.  Category name doesn't matter for this.  Tax  Line matters.

MontanaKarl

@NotACPA
You did not read my post.  I said if NOT C, E or F that they should use a separate file.  Don't assume other posters aren't as smart as you :-)

NotACPA

@MontanaKarl  Old eyes.  I missed the word NOT

MontanaKarl

Thanks.  Old eyes here, too. :-)

jacobs

SGordon0211 said:

Am I correct that I can have only one categorization rule that would cover both accounts and thus would place each transaction into only one category?

Or is there a way to create two separate categorization rules, one for each account, that would place each transaction into the appropriate category depending on which account the transaction appears in?

As noted above, there's no way to have account-specific QuickFill rules, and the product manager has said that while he understands the use case, they are not planning to implement such a feature because ti would require a massive amount of work. 

But just for clarity, I wanted to note that you can create two separate QuickFill rules for a Payee, and you can mark which one to use as the default. You'll just have to go in to manually change the category for the other ones. 

SGordon0211

Many thanks for everyone's input and suggestions!

UKR

How about, when manually recording transactions for this Payee, you create two distinct Payee Names,
e.g., Amazon - Personal, Amazon - Business, each with their own categories.
That should help keep things separate, unless you expect Quicken to somehow magically distinguish between two Amazon.com downloaded transactions, one supposedly for business, one for personal ...

SGordon0211

You can confidently assume I don't expect anything magical to happen.