Because some of my banks do not support direct updates I have to download activity and use Quicken Launcher. Right now I only have one Quicken file on this computer with all my personal accounts. I have a separate business account which is limping along (just fine) on MS Money. If I import this business file to a NEW quicken file (which may be necessitated by a computer upgrade), I am wondering: when I download the activity and am given the option to open Quicken Launcher, will it know which of the 2 Quicken files to open?
Let's first address the "2nd file" question. The crux of the issue is "How is the business owned". If you own it outright (or, with your spouse), the business data can reside in the same file as your personal data. Because you, any spouse, and the business would be a single tax entity. You'd be filing the tax return for the business on Schedule C of your tax return. And, you'd be able to use Q Home & Business. It doesn't sound like you'd need Quickbooks, if you're able to currently run on MS Money.
IF the business files it's own separate tax return, then you would indeed n eed a 2nd data file (because a Q data file should contain info ONLY for a s ingle tax entity).
Now, to the "which opens"question. You can open the Q program a couple of ways: 1) by clicking on the program icon, or 2) by clicking on a data file icon. If you click on a data file icon, Q will open with that data file. If you click on the program icon, Q will open with the last data file that you used.
In either case, it's easy to switch from 1 data file to the other, without closing Q, by clickin on the FILE menu,which will show both of your Q data files in a list.
re: downloads. From Q's perspective, downloads of business accounts work e xactly the same as into personal accounts ... BUT, many banks/cards/etc ha ve different rules for business accounts than they do for personal accounts . You'd need to explore that with your bank.
The business is a family partnership and does indeed file a 1065 so the data needs to be separate.
While you mention two ways to open Quicken, but there is a third. If I go to the bank's web site and download activity "for Quicken software" via Web Connect, one of the choice is to "Open via Quicken Launcher". And so the question is how do I know what file will open? Once I inadvertently downloaded the business transactions (rather than my personal checking which is at the same bank) and it opened the only file that existed and asked me what if any account they belonged in. Which was none.
When the file for Quicken to open is not specified, Quicken will open the last file it had open.
For your situation, I believe you will need to open the Quicken data file yourself, then import your Web Connect (QFX) file using File > File Import > Web Connect File.
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