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To create business reports, you follow the same s= teps you follow to create any other type of Quicken report= .
These reports help you keep track of your bills. You can find out how mu= ch you owe a particular vendor, for example. You can also print the entire = accounts payable register or selected portions of the register. Information= is available at Create Accounts Payable reports.
These reports help you keep track of the money coming in. You can find o= ut how much individual customers owe you or how much you've sold them in to= tal. You can also see payment histories for your customers, and you can pri= nt the entire accounts receivable register or selected portions of the regi= ster. Information is available at Create accounts receivable reports.
This report is a financial snapshot of your company on a specific date. = It shows:
The balance sheet is a fundamental business report. You generally need t= o provide one to your loan officer when requesting a loan.
These reports help your company keep track of the cash it receives from = sources other than accounts receivable such as cash from loans, investments= in the company, interest income, or repayment of loans to others.
This report prints a list of missing or duplicate checks (C= heques in Canada) and their transactions. You can use it to= help you track down bookkeeping mistakes and problems without having to wa= de back through your paper registers.
This report summarizes income and expenses by category, with a separate = column for each payee. It is limited to transactions with category or trans= fer information containing the word Payroll=E2=80=94that is, to transaction= s categorized with payroll categories and transfers to payroll liability ac= counts.
The TRANSFERS TO rows show decreases in your accrued payroll liabilities=
. For example, each time you record a FICA payment in your checking (
The TRANSFERS FROM rows show increases in your accrued payroll liabiliti= es. For example, each time you record a paycheck, Quicken transfers the FIC= A contribution amount from your checking account to the Payroll-FICA accoun= t, where it increases the balance you owe. In the same way, the report can = track your liability for items like FUTA, SUI, and federal withholding.
Quicken includes two profit and loss reports:
If you take advantage of the project/job tracking capability in Quicken,= you can create several reports:
This report shows Schedule C transactions subtotaled by tax line item.= p>
You should enter Schedule C information if you operated a business or pr= acticed a profession as a sole proprietorship during the year, if you had m= ore than one business, or if you and your spouse had separate businesses. I= n these cases, the IRS requires you to complete separate Schedule C forms f= or each business when you file your tax returns.
Business tags
If you've entered business transactions=
that Quicken needs more information about, Quicken displays th=
ese transactions in the Unspecified Business Expense and Unspecified Busine=
ss Income sections of the report so you know to resolve the unspecified tra=
nsactions either in the report (see the note below) or
If you have Unspecified Business Expense or Unspecified Business Income = transactions in a version of Quicken besides Quicken Business &= Personal, you probably need to modify the category or tax line it= em to resolve the transactions. When you're done, the transactions should n= ot use the Not Sure Business Expense category, and they should not use a ca= tegory with the Schedule C:Unspecified Business Expense or Schedule C:Unspe= cified Business Income tax line items.
This report lists transactions from all accounts in the current file wit= h tax-related categories assigned to tax schedule line items. When you want= a report that lists the exact figures you need to fill in on your Form 104= 0 tax form and most schedules (with the qualifications listed below), creat= e a Tax Schedule report. (Click Expand All in the upper-left corner of the = report to see the transactions for each tax line item grouped by tax schedu= le.) If you plan to export tax information to tax software= , this is the report to use.
If you've purchased Quicken Business & Personal, th= is report includes transactions with business tags.
If you've entered business transactions=
that Quicken needs more information about, Quicken displays th=
ese transactions in the Unspecified Business Expense and Unspecified Busine=
ss Income sections of the report so you know to resolve the unspecified tra=
nsactions either in the report (see the note below) or
After you've assigned categories to line items correctly, you're ready t= o tra= nsfer the data from this report to tax preparation so= ftware that uses the tax schedules. Or you can use this report to fill in t= he exact figures on your Form 1040 tax form and schedules, with these two q= ualifications: (1) Check the figures against any limits defined by the IRS,= such as the maximum deduction allowed for IRA contributions (the Quicken T= ax Schedule report gives your personal totals, not the IRS limits); and (2)= be sure you've already recorded all relevant transactions in Quicken (Quic= ken comes with the investment categories _DivInc and _IntInc assigned to Sc= hedule B, and the Tax Schedule report subtotals the amount for each categor= y by investment account, but not by security).
The initial report excludes tax-deferred accounts (you can customize the= report to include them). If you exclude an account for which you defined t= ax form information, the report still lists transfers made into or out of t= he account if the account at the other end of the transfer is included.
Keep in mind that the Tax Schedule report does not include capital gains=
. To see realized gains or losses, loss carryovers, and long-term capital g=
ains distributions for securities, you can run a Schedule D report if you purchased Quicken Premier or Quicken Business &=
; Personal. Otherwise, you need to run the Capital Gains report
If you have Unspecified Business Expense or Unspecified Business Income = transactions in a version of Quicken besides Quicken Business &= Personal, you probably need to modify the category or tax line it= em to resolve the transactions. When you're done, the transactions should n= ot use the Not Sure Business Expense category, and they should not use a ca= tegory with the Schedule C:Unspecified Business Expense or Schedule C:Unspe= cified Business Income tax line items.
Quicken automatically sets to cash basis every = ;applicable business report that can be set to acc= rual or cash basis. You can modify this setting.
Note for our Canadian Customers
The following terms will be different in the Canadian releases of Quicke= n.
Canada: "Cheque" / United States: "Check"
Canada: "Colour" / United States: "Color"
Canada: "Centre" / United States: "Center"
Canada: "Realise" / United States: "Realize"
Canada: "Behaviour" / United States: "Behavior"
Canada: "Analyse" / United States: "Analyze"
This feature requires Quicken Business & Pers= onal. Learn how you can upgrade Quicken in minute= s.