Can a single bank account's transactions be downloaded to two separate Quicken files?

olsenps
olsenps Member ✭✭
I want to use Quicken to manage 1) my personal finances and 2) the finances of my home business. I've set up two separate Quicken files to do that. If one of my banks is used for both purposes, can I separately download transactions from that bank to each of the Quicken files, or is there a reason that a bank account can only be downloaded to a single Quicken file?

Best Answer

  • John_in_NC
    John_in_NC SuperUser, Mac Beta Beta
    Accepted Answer
    Yes, Quicken can access the same bank account(s) in different files. Just make sure they are completely different files (File:New), and not a copy of one another. 

    Those of us who test Quicken have to do this all the time.

Answers

  • John_in_NC
    John_in_NC SuperUser, Mac Beta Beta
    Accepted Answer
    Yes, Quicken can access the same bank account(s) in different files. Just make sure they are completely different files (File:New), and not a copy of one another. 

    Those of us who test Quicken have to do this all the time.
  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    Do you have separate bank accounts in that bank or do you mean to separate the transactions in the same account?  If it's one account you will get all the transactions in both files.  So you will have to delete the ones you don't want.  If you file your home business on Schedule C in your personal return you probably should have it in the same file as personal.  And how will you ever reconcile that bank account if you split it into 2 files?  That does not seem like a good idea.  Seems like you will need to setup Receivable and Payable accounts in both files to transfer transactions between them.  And what if you pay for business out of another personal bank account or credit card?  Sounds messy.  

    If you keep it all in one File you can still run reports, etc. just on the home business.  My husband has a self employed business and I keep all our finances in one File.  
  • olsenps
    olsenps Member ✭✭
    Personal and business bank accounts are separate with one unavoidable exception (call it Bank X). Bank X transactions will be separately downloaded to the Personal Quicken File and to the Business Quicken file. It's a bit messy and does require "ignoring" the Personal transactions in the Business file, and vice versa, by using categories that won't be included in reports and budgets. I just wanted to make sure that all Bank X transactions would successfully download to both files. But bottom line - you aren't wrong that it would be easier to use a single file and separate the Personal and Business activities using reports and different budgets. I need to take another look at that.
  • Ps56k2
    Ps56k2 SuperUser ✭✭✭✭✭
    Just a note - it's all related to your bank account, and what you see when you log into the bank website.
    SO... if your bank User ID sees BOTH accounts - because they both are related to your personal SSN, vs say, an EIN -
    then Quicken will also see and download both accounts - just like what you see on the bank website.
    Quicken Subscription - Windows 10
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