How to account for Business profit as Income

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jclarke
jclarke 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.

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  • jclarke
    jclarke Member ✭
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    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.

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