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Migrated from Personal to B&P - updated Categories - but still no Business reports (edit)

TCCSTreasurer

Original data file created in Quicken Classic personal, and all data/categories/accounts were listed as personal. I moved data file to Quicken Classic Business & Personal in order to have business reports available, but data is not being recognized by the business reports. I have already changed all categories to business, and have added all accounts to the business. For example, Profit and Loss Statement shows zero…no income or expense categories, overall total zero. Confirmed settings in report: include all accounts, included transactions with any category and uncategorized, include all category groups. What am I missing?

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NotACPA

ONLY categories that have either a Business TAX LINE or a Business TAG will appear in business reports.

The category name doesn't matter … only the tax line or the tag.

TCCSTreasurer

Thanks for the response, NotACPA. Is there a way to add a tag to all existing transactions? Please don't tell me I have to go to each transaction to add a tag…

Ps56k2

are you now using Business Expense Categories under the Group/Business as shown in the Category List ?

volvogirl

No tags. For an income or expense category to show up under Business you have to assign it a Schedule C tax line number. Go into Edit Category and assign it one. To check the tax line assignment open the Category list by either clicking on the Category Icon or go to Tools-Category List or Ctrl+Shift+C. Then select the category and right click on it to Edit it. Click on the Tax Reporting Tab and check the box for Tax related and pick a Schedule C: tax line item.

TCCSTreasurer

I'm actually treasurer (not an accountant lol) for a small non-profit community organization, so we don't use schedule C (we file a Form 990). I don't think assigning a tax line on each category will work in our case. I'm thinking I may have to go with the tag idea that NotACPA suggested…now I'm just wondering if there is an easier way to tag all transactions that have already been entered?

volvogirl

Yes just put in the schedule C tax line. You need it to use the business features. The business part is mainly for self employment filing schedule C. But you can use it for other entities.

q_lurker

You can create a banking transaction report, highlight (select) several transactions (Shift-click and Ctrl-click as needed). Do not select any transactions with Split categories. There is an Edit button upper left that includes a retag option. Transactions with Split category assignments need to be individually tagged.

Even though you are not filing as a Schedule C business, I suggest you let Quicken think you are.

UKR

After upgrading to BP&R, did you set up the necessary Business Information, Business Tag(s) and Business Accounts (A/R, A/P)?
To get started with setting up a small business start reading here: https://help.quicken.com/display/WIN/Business

One of the businesses added to your data file needs to be marked as the Default Business. This will include business-related transactions in your business reports, even if not explicitly tagged for one of the businesses.