Business interest set-up as paycheck with shared expenses as deductions exceeding income

David Vigil

I have a small business interest, with four "stores" from which I receive monthly statements of income and expenses which I have set up in Quicken as paychecks. I track each "store" separately in Quicken and, to keep my income and expenses straight for tax reporting purposes, when one store has expenses that exceed income (and Quicken will not accept the negative entry) I net the particular high expense for that month to "zero" income/expenses for the month for that "store" and post the excess expense to a high income "store." Thus, my income/expense reports in Quicken balance and accurately report my income/expenses overall. Problem - this month all "stores" had expenses exceeding income so I can't post the income and expenses in Quicken, as the negative net income/expenses is not allowed. I need to find some way of keeping my records straight for tax reporting, of course. Any help or suggestions out there?

Rocket J Squirrel

Replace the phony paychecks with regular split transactions.