Successfully managing your finance and money for over 30 years now, Quicken ensures its users to protect and securely transmit data from your financial institutions into Quicken with robust 128-bit & 256-bit encryption. Being an indivisible part of Intuit, which also developed Quickbooks and another tax planning software, Quicken’s primary purpose is to give everyday people the tools necessary to manage their own finances.
One of the most incredible benefits of using Quicken is that it allows for the addition of multiple companies and differentiates individual business information with identifying tags. In case, you have two companies, and so you want to add more than one company in Quicken for an appropriate financial management, you can either contact Quicken Support or else you can just follow the steps given below.
- To begin with the process of adding more than one company in Quicken, users are supposed to open the “Manage Business Information” dialog box so that you can add details of the new company. Also, you are supposed to select the “Business” main menu tab followed by choosing “Manage Business Information.”
- Once you have chosen the previous option, now it’s the right time for you enter the details of the new company that you want to add. Start with writing the company name and do ensure that the name is capable enough to distinguish it from additional companies on your Profit/Loss page and in Tax Schedule reports. You are also supposed to write a short optional description of the company. Also, you need to enter the name of the owner–Identify the owner of the company as either yourself or your spouse.
- After you are done with entering the name of the company along with the name of the owner, it’s advisable for you to include business tag as well. It will help you to create a tag using the company name to allow Quicken to associate and group transactions with the appropriate company, which will automatically customize reports and facilitate tax preparation.
- In the next step, you are required to set up business accounts that are specific to the new business followed by selecting the Quicken “Business” tab, and then on the “Summary” option. Also, you are then supposed to press the “Add Account” button in the appropriate section, such as “Bank” or “Accounts Receivable.” Moving further, set up the new account using the business name in the “Account Name” field and jump to the next step.
- Now you need to enter transactions as normal while ensuring that you have tagged all transactions to the appropriate business. Do not forget to view information for an individual business by selecting the business name from the drop-down box in the “Profit/Loss” section of the “Business” tab.
Once you exactly follow the above-mentioned tips, you will be assured with an added company on your Quickbooks account. However, if this doesn’t happen, you can take help from Quicken customer support. They will not only guide you with steps but will also ensure that the user never has to face similar problems again.