Two Classes or Two Companies

I don't know about you but I would find it easy to mix up classes or forget to insert it occasionally at best. Two separate companies in my mind require their own file that way you can't mix things up as easily.

Bgreer5050 wrote:

My first thought was, why?

If the businesses are not related in any way, and if you are using seperate business checking accounts for them, why would you want the information in the same file? Although you can have more than one bank account, and multiple templates for invoices, why set up a situation where your accounts are merged, and you must identify classes with each transaction?

Another consideration is that at some point your business needs might change.You may decide to hire an employee to help with one of the businesses, or you may decide that either business is not profitable and needs to be closed.

Seperate records keep it neat, clean, and easy to make changes to.

If instead you are using a single checking account (not recommended, but I think 'do-able' with a sole proprietorship IIRC) then you are more or less forced to use a single file, because it will be necessary to show all transactions when you reconcile your bank account.

I have not used QB classes, so I cannot point you to any possible pitfalls.