Greetings,
I'm a veteran Quicken and Turbotax user with over 10 years into the cult. Sometimes, it seems Quicken runs my life. It's sad. LOL. :-) But I need some advice!
I find myself now having two small side businesses that require separate schedule C's when tax time comes. I'm trying to minimize the manual massaging needed when populating these schedule C's with the various expenses. I have a single personal checking account into which the income of these businesses flows, and I use my personal credit card to handle nearly all the expenses, but I use categories and invoices to track income and expenses for each business into nifty little separate categories.
The problem: Quicken 2004 Premier Home & Business that I'm using doesn't seem to have a notion of separate schedule C's. While I can set up categories to flow to a (single) schedule C line item of business expenses, there doesn't appear to be a way to separate businessA expenses to go to businessA's schedule C and BusinessB's expenses flowing to BusinessB's schedule C.
What version of Quicken (if any) supports the notion of multiple schedule C's? Or are there any clever workarounds? Or would Quickbooks potentially make this easier (without sacrificing the simplicity of tracking with my personal checking account and credit card for business income and expenses)?
Thanks so much for any shared experience.
Best Regards,