Profit Loss Question

leerph

I am thinking about switching over to Quicken but I have a question. I have a business with 2 checking accounts (1 for each store location). Is it possible to run profit/loss reports for each checking account individually so that I can see how profitable each business location is, or is it only shown as an overall P/L of both bank accounts? Thanks.

Rocket J Squirrel

All Quicken reports can be customized to show whichever account or accounts you want to see.

leerph

I'm testing out the business version of quicken. I have a business with 2 locations. I have a separate checking account for each location. Is there a way to run the P/L and have it show only the transactions for each checking account individually as well as both accounts together? I like to be able to break it down so I can see how each location is doing but then also need it all together for tax purposes at the end of the year.

volvogirl

You could use Tags.   You can have a Tag for each location.  Then sort the reports by tag.  You can add a Tag to each transaction.  

There are Categories and Sub-Categories and Tags. You use a colon in front of a sub-category.  The forward slash / designates a Tag,  or there is also a TAG column.  

Example of Sub-Category….
Auto:Auto Fuel
Auto:Maintance

Example of Tags…
Auto Fuel/Toyota
Auto Fuel/Ford

I have a home business and  use Tags  for each job.  Then when I run a report I can sort it by job.  So an expense entry might look like this…
Business Expense:Supplies/Maple Street

jacobs

Since you say you have two separate checking accounts, you may or may not need the coding by tags or sub-categories which @volvogirl explained above. For expenses (and/or income) involving just a checking account, it's easy to do separate P&L reports based on one account, the other account, and both accounts — without using different categories or tags. But if you want the combined report to have separate lines for each business, then you'd want sub-categories or tags.