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.
Tap the Menu (three-line icon).
Tap Settings and select Categories.
On the top right side of the screen, tap the + icon.
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
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
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
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 on the Mobile App.
If you're looking for the steps specific to the Web App, please see our article on Managing Business Categories.
If you have any questions or need help with business categories, our support team is here to help.