Overview
Mixing personal and business transactions can quickly turn into a headache—reports get messy, tax prep becomes confusing, and it’s hard to see where your business really stands.
That’s where business categories come in. With Quicken Business & Personal, you can separate business transactions from personal ones so you can keep things organized, run accurate reports, and make tax time a little less stressful. 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 structure and the industry that you select determine preset business categories for you to use.
On the web, transactions associated with a business display an icon next to the category. On mobile, this icon becomes visible when you open the transaction details.
You will keep your business categories 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.
Instructions for Web:
Hover over the left panel and click the Settings gear icon at the bottom-left corner of the screen.
Select Categories & tags.
Click the blue + Category button.
Enter a name for your category.
If creating a subcategory, click on the Subcategory Of dropdown and ensure that you select a Business main category.
Select the category type, Income or Expense.
Select Business for the Usage.
To make this category associated with tax information, click Tax Info at the bottom right, and then enable the tax group toggle (i.e., General Business).
If you need to change the tax group, click on Select tax groups, check the box next to the tax group that best fits, and click Update.
In the Tax Form dropdown, select your business's tax form.
In Tax Line Item, select the option that best fits your category.
Click Update to save the tax information.
Click Create when done.
Instructions for Mobile:
Tap the Menu (three-line icon).
Tap Settings and select Categories.
On the top right side of the screen, tap the + icon.
Select the usage type as Business.
Enter a name for your category.
If creating a subcategory, click on the Subcategory Of dropdown and ensure that you select a Business main category.
Select the category type, Expense or Income.
Select Business as the Usage type.
To make this category associated with tax information, click Tax Info at the bottom right, and then enable the tax group toggle (i.e., Business).
If you need to change the tax group, click on Select tax groups, check the box next to the tax group that best fits, and click Update.
In the Form dropdown, select your business's tax form.
In Tax Line, select the option that best fits your category.
Click Update to save the tax information.
Tap Create.
Edit a Business Category
Instructions for Web:
On your Dashboard, click the Settings gear icon at the bottom left of the screen.
Select Categories & tags.
Under Categories, find the category you want to edit and click the three-dot icon on its far right.
Click Edit.
After finishing your category edits, click Update.
Instructions for Mobile:
Tap the Menu (three-line icon) and tap Settings.
Tap Categories.
Use the Search all categories bar to find the category you want to edit and tap on the category.
Once you've finished editing the category, tap Update.
Delete a Business Category
Instructions for Web:
Hover over the left panel and click the Settings gear icon at the bottom-left corner of the screen.
Select Categories & tags.
Under Categories, find the category you want to delete and click the three-dot icon on its far right.
Click Delete.
A warning screen will appear asking you to confirm the deletion. Click Delete.
Instructions for Mobile
Tap the Menu (three-line icon) and tap Settings.
Tap Categories.
Use the Search all categories bar to find the category you want to delete and tap on the category.
Towards the bottom of the screen, tap Delete Category.
A warning screen will appear asking you to confirm the deletion. Tap Delete.
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
To learn more about managing personal categories and subcategories, see Managing Categories and Subcategories.
If you have any questions or need help editing your account details in Quicken Simplifi, please don't hesitate to reach out to our support team!