Multiple businesses - connect bank account to a specific business

jmrcrp · February 2021

Is there a way to connect a bank account to a specific business? I have multiple businesses, each with its own checking account. I can add a bank account and specify that it is for business use, but there doesn't seem to be a way to designate which business it goes with.

The only way it seems I can make sure that bank transactions are applied to the correct business is if I use tags on every transaction in every bank account.

Is there an easier way?

NotACPA · February 2021

If I understand correctly, the real question here is: Can I connect a bank account to a specific business.

Sorry, but the answer is no, as long as they're all in the same Q data file.

Perhaps you could change the name of each checking account to indicate which business it's part of.

Q expects all of the accounts in a single file to belong to a single tax entity. What you're asking, in essence,is to sub-divide that by business.

Perhaps you should look at Quickbooks for your various business needs.

jmrcrp · February 2021

Thank you for the reply. As a matter of fact, the further I got into trying to set up the businesses in Quicken, the more I realized just what you said. I do need Quickbooks, so I just purchased it.

I will leave this question and your answer, in case anyone else has the same question.

Multiple businesses - connect bank account to a specific business

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