Business Tab

Animatordave

Hello, I'm trying to set up my account to track my personal and business transactions separately, but I can't seem to find or show the BUSINESS tab in my application. Does anyone know where it is located?

I have Quicken Home & Business Version 6.5.1 on macOS 11.4

jacobs

volvogirl said:

And everything that goes on the same tax return, like your personal and self employment business Schedule C and your spouse's income,  should be in the same Quicken Data File.   If you file a separate business return like a 1065 or 1120 then that should be in a separate Data File.  

@volvogirl I agree and disagree. If there's a separate corporation for the business, there's no doubt separate Quicken files should be used. But if the business is something you report on a personal Schedule C, you might still want to maintain a separate file for the business. I know I would not have wanted to co-mingle tracking my wife's business income, expenses and assets in our personal Quicken data file, even though the data from those financial statements made its way onto our Schedule C.

volvogirl

I don't think there is a  Home & Business version for Mac.  It probably installed Premier.  Did you move from a Windows computer?

Animatordave

Nope, just subscribed to the home and business version (most expensive option) and put it on my mac for the first time, never used quicken before.

In the "about quicken" menu option it shows "Quicken| Home & Business" "Version 6.5.1"

Not sure if I can post links here, but if so, here's a screenshot of the window that shows up in quicken:
https://www.dropbox.com/s/50pswoy5zh85n8q/Screen%20Shot%202022-01-14%20at%206.24.25%20PM.png?dl=0

Animatordave

@volovgirl
I forgot to tag you in my response above.

volvogirl

Check this page.  It shows Home & Business is only for Windows
https://www.quicken.com/product-selector

Animatordave

Hmm. Yep, that looks correct. So weird that they let me pay for the subscription, download it and it shows "home and business" in the about section of my application. Guess I'll be asking for my money back. Thanks for pointing that out!

jacobs

No, I'm sorry to say, there is no home Home & Business version of Quicken Mac. Yes, you purchased a Home & Business subscription, and that gives you the ability to use the Home & Business version for Quicken Windows and the highest version for the Mac, which is Quicken Premier.


View this chart and you can confirm the Home & Business features are not available on the Mac.

If you can use Quicken successfully without the business features, you should contact Quicken Support to downgrade to Quicken Premier and get a partial refund. If you truly need the business features, you'll need Quicken Windows, or some other software. 

You can certainly use Quicken Mac to keep your business and personal records in separate files. The question is whether you need the invoicing or rental management features of the business version.

Animatordave

Oh okay, so I can still have two separate 'accounts' then. Like one whole setup that I title Personal, and then another setup that I title Business?

jacobs

Just to clarify terminology, since it can get confusing…

• You have one account with Quicken, Inc — e.g. one Quicken ID, one subscription.
• But you can have multiple Quicken Mac data files; every data file is completely separate from any others.
• Within each data file, you have accounts for your financial institutions which parallel bank and investment accounts in the real world.  

When my wife ran her own business, we had a separate data file for her business, completely separate from our personal data file. When I was treasurer of a small national non-profit association, I had a separate data file for the association, obviously independent of my personal data file. Each data file has its own Payee list, it's own category customization, it's own reports, etc. 

You can't have two data files open at the same time, but you can switch back and forth between different data files pretty quickly (using the File > Open Recent menu). 

volvogirl

And everything that goes on the same tax return, like your personal and self employment business Schedule C and your spouse's income,  should be in the same Quicken Data File.   If you file a separate business return like a 1065 or 1120 then that should be in a separate Data File.  

jacobs

volvogirl said:

And everything that goes on the same tax return, like your personal and self employment business Schedule C and your spouse's income,  should be in the same Quicken Data File.   If you file a separate business return like a 1065 or 1120 then that should be in a separate Data File.  

@volvogirl I agree and disagree. If there's a separate corporation for the business, there's no doubt separate Quicken files should be used. But if the business is something you report on a personal Schedule C, you might still want to maintain a separate file for the business. I know I would not have wanted to co-mingle tracking my wife's business income, expenses and assets in our personal Quicken data file, even though the data from those financial statements made its way onto our Schedule C.

Animatordave

Thank you both. This was very helpful!