Can you use QuickBooks for Personal Finance?

Discussion in 'Quickbooks' started by Mel_3, Aug 14, 2009.

  1. Mel_3

    Mel_3 Guest

    You can setup multiple businesses under QuickBooks... right?
    Can you also setup for keeping up with Personal finance... or is it
    better to buy Quicken for personal?

    Seems like for an S-Corp it would be good to have them run under the
    same software... or would it?

    Thanks.
     
    Mel_3, Aug 14, 2009
    #1
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  2. Mel_3

    Laura Guest

    "Mel_3" <> wrote in message
    news:...
    > You can setup multiple businesses under QuickBooks... right?


    You can have as many businesses as you want using QB with each business
    having its own file.

    > Can you also setup for keeping up with Personal finance... or is it
    > better to buy Quicken for personal?


    QuickBooks can be used to track personal finances as long as you don't need
    to track investments. If you want to download brokerage information then
    you'll want to use Quicken.

    One thing to check is whether or not your bank charges for downloading into
    QuickBooks. Many do but downloading into Quicken is free.

    >
    > Seems like for an S-Corp it would be good to have them run under the
    > same software... or would it?


    It does not matter if one is using QB and one is using Q. You do need to
    keep them in separate files and just prepare the appropriate forms at tax
    time.

    > Thanks.
     
    Laura, Aug 14, 2009
    #2
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  3. Mel_3

    QBCPA75

    Joined:
    Aug 20, 2010
    Messages:
    13
    You can use Quickbooks Simple Start for personal use. You can use the other versions, but Simple Start is a more cost effective version for personal use.

    I am a Stamford bookkeeper who has an MBA from Harvard Business School and have decades of proven experience as an accounting leader. I provide free comprehensive QuickBooks consultations to help businesses increase efficiency and profits.
     
    QBCPA75, Aug 20, 2010
    #3
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