When you add a business to Quicken, you associate a tag with a specific business. Once a tag is linked to a business, it becomes a business tag that enables Quicken to group the transactions for the specified business in the Business Center snapshots and the Tax Planner. Quicken also groups transactions by business in the Tax Schedule report and the Schedule C report.
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For example, say you have a candle business and a catering business. Each business has its own checking (Chequing in Canada) account, but you use a single credit card to make purchases for both businesses. When you download or enter your credit card transactions, you can enter the candle tag for purchases for the candle business and the catering tag for purchases for the catering business. That way Quicken considers these purchases when determining your deduction and spending information for each business.
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In Quicken's Canadian version, we use the Canadian spelling "centre." |
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