Categorizing S Corp

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rad6000
rad6000 Member

Hi have Quicken Premiere and would like to categorize my S Corp business expenses separately from my personal expenses. Currently all personal and business expenses are catagorzied as personal. An suggestions on how to do this? Thank you

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  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    edited July 2023
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    You'll need separate categories … use some for personal income/expenses and the others for business items, The business categories will need Sched C tax lines associated with them, that how Q identifies them as business.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭
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    Actually a S corp is a separate entity from your personal accounts. You file it on a separate business tax return. It should be in it's own separate data file. Go up to FILE - New Quicken File.

    I'm staying on Quicken 2013 Premier for Windows.

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