How to account for Business profit as Income

jclarke
jclarke Quicken Windows Subscription Member
edited January 12 in Registers & Transactions (Windows)

Hey folks. Quicken Classic for Windows. If I get a paycheck to my personal account, you might see a spilt transaction like this:

Income 1000
Tax -200
Health -100
Deposit 700

This would account for the tax expense as well as health insurance.

But business income (profit) can't work that way. I can SEE the profit of 1200 by the report in Business section, but since it is not a single entry in the business account, how do I mark that as income? Something like:

Profit / Income 1200
Transfer to non-business acct / Deposit 1000
Left in Business Acct 200

I want to see business profit and personal income as income on the spending reports.

Maybe being stupid, but I can't get everything to balance out.

Any help appreciated.

Tagged:

Answers

  • jclarke
    jclarke Quicken Windows Subscription Member

    I guess I should add that I don't want to business expenses in the (personal) spending reports… I don't show the business account there. I know if you did you'd see the gross receipts and the gross expenses. I like to keep business and personal separated if at all possible treating business profit as income even though the draw is not that total income.

    Hope that clarifies things.

This discussion has been closed.

Categories