How To Set Up Quicken Home & Business [Edited]

DTCHS

I have used Quickbooks for many years. My old software isn't being supported anymore, so I'm making the switch to Quicken for home and Business. I'm having trouble finding resources to tell me how to set it up and how it works. Any help would be greatly appreciated. i.e. - Are accounting reports available like a balance sheet? I see it will give me an income/expense report; but it looks like it's only based on what's cleared the bank?? If I'm syncing with my bank, how to I record a check I issue? Do I just have to wait until the bank cashes it? If I can figure out how to post it myself, won't it post again when the bank cashes it?

I'm very used to double entry accounting and bookkeeping, so I might be trying to fit a square peg into a round hole. I'm having a very difficult time going through all of the 2-3 minute videos that haven't helped much! Thank you!!!

NotACPA

For starters, Q automates that "double-entry" function.  So when you use a category in your transaction, Q automatically makes the offsetting transaction into that category.

Also note that Q, unlike QB, only uses the term "account" for Asset & Liability items.  Category is the term for Income and Expense items ... and these don't have a register, they're automatic.

P&L reports are available for your Business functions, but they're called "Income & Expense" reports for personal items ... and Q identifies Business transactions by the Tax Line that's associated with the category.  No Tax line = personal (not business) item.

If you manually input transactions (or use Scheduled Transactions) they'll appear in the appropriate account register before the download from the bank/card/etc ... and thus they'll appear in the P&L (I&E or Balance Sheet) reports.

The key point here is to print out your Chart of Accounts from QB, and set up their counterparts in H&B. BUT you should also note that H&B doesn't support inventory or payroll ... so if you use those in QB you probably need to find another product.