Overview
Keeping personal and business transactions separate can make it easier to stay organized, create accurate reports, and prepare for tax time. With Quicken Business & Personal, you can use business categories to identify and organize your business transactions separately from your personal spending. You can use the built-in categories or create your own to fit your business needs.
Things to note
When you create a business, the business structure and industry you select determine the preset business categories available to you.
On the web, transactions associated with a business display a business icon next to the category. On mobile, the icon appears when you open the transaction details.
Your business categories remain available even if you downgrade your subscription.
Note: 1120-S and Form 1065 tax forms are currently not supported for reporting.
Create a Business Category
If you don’t see the categories you need, you can create custom business categories.
Access the Category List
Click the Settings icon in the upper-right corner.
Select Categories & tags.
Click the blue + Category button.
Create a Category/Subcategory
For creating main categories:
Enter the category name.
Do not use the Subcategory Of field.
Select Income or Expense for the category type.
Select Business for the category usage.
For creating subcategories:
Enter the subcategory name.
Select the main category in the Subcategory Of field.
The category type will be pre-selected by the main category.
The category usage will be pre-selected by the main category.
Add Tax Reporting Info (optional)
Click Tax Info at the bottom.
Toggle on Tax Related.
Select the applicable tax form and tax line items from the menus.
Click Update.
Click Create when done.
Edit a Business Category
Click the Settings icon in the upper-right corner.
Select Categories & tags.
Use the search bar to locate the category you want to edit.
Click the three-dot menu to the right of the category.
Select Edit.
Make your changes, then click Update.
Delete a Business Category
Instructions for Web:
Click the Settings icon in the upper-right corner.
Select Categories & tags.
Use the search bar to locate the category you want to delete.
Click the three-dot menu to the right of the category.
Select Delete.
Click Delete again to confirm.
Business categories that cannot be deleted
While most business-specific categories can now be deleted in Quicken Business & Personal, there are some exceptions that are essential for business features and cannot be deleted:
Business Income
Billable Expense Income
Discounts Given
Markup
Tip Income
Commission & Fees
Processing Fees
Office Expenses
Postage & Shipping
Other Expenses
Bad Debt
Understanding Business Income Subcategories
Quicken Simplifi includes built-in Business Income subcategories to help you track your business income easily while keeping your records detailed and organized:
Sales of Products – Revenue from goods that your business manufactures, produces, or significantly modifies. This includes products that you create, assemble, customize, or otherwise add value to.
Example: A bakery selling cakes it has baked or a craftsperson selling handmade furniture.
This category is best for businesses that manufacture, craft, or create the products they sell.
Sales of Purchased Goods – Revenue from goods that your business purchases from suppliers and resells without significant modification. Your business acts as a retailer or distributor.
Example: A convenience store selling bottled drinks or a boutique reselling wholesale clothing.
This category is best for businesses that resell, distribute, or retail products they purchase from suppliers.
To learn more about managing personal categories and subcategories, see Managing Categories and Subcategories.
If you're looking for the steps specific to the mobile app, please see our article on Managing Business Categories on the Mobile App.
If you have any questions or need help with business categories, our support team is here to help.