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Posted by John Pollard on March 2, 2007, 2:09 pm
Please log in for more thread options Laura wrote:
> "John Pollard" wrote
>> Laura wrote:
>>> "Kruwreka" wrote
>>>> Hi there
>>>>
>>>> I'm looking to upgrade from Quicken 2002 to Quicken XG
>>>> 2007 and I have a few questions.
>>>>
>>>>
>>>> I'm wondering if it is possible to set up multiple
>>>> companies in 2007? Just small SOHO-style companies with
>>>> a few transactions here and there. I know from
>>>> Quickbooks that you can set up multiple companies and
>>>> switch between them. If the answer to the above is yes
>>>> then is it set up like
>>>> Quickbooks and you have to switch between them or is it
>>>> possible to have them show up integrated into one
>>>> overall financial picture? I hope this is making sense
>>>> and thank you in advance
>>> You can set up multiple company files just like
>>> Quickbooks. You can only have one open at a time (same
>>> as QB).
>>> Another option is to use the class field to identify the
>>> transaction by company. Unfortunately, Quicken does a
>>> poor job, IMHO, of reporting by classes.
>> I have no favorite in this "race", but I'd like to clear
>> up a few points.
>>> Quickbooks
>>> allows you to display your P&L by class. Quicken only
>>> permits you to display the transactions for a selected
>>> Class.
>> This is somewhat misleading, partcularly in the context
>> of the "multiple companies" question. Using classes to
>> identify each company will allow you to print a separate
>> P&L for each company and a consolidated P&L for all
>> companies; just what I think is desired. (And you can't
>> print "transactions" in a Quicken P&L, regardless of any
>> "class" use.)
>>> None of the standard Quicken reports include the
>>> option to print transactions with the class field
>>> displayed.
>> Almost exactly backward: every Quicken report that
>> displays transactions, and shows the category field for
>> each transaction, displays the class value for that
>> transaction.
> It does? Not in Basic at least.
Sorry, I should have included the Q version(s) my comments were
based on - Q2005 Deluxe, and Q2006 Premier - I've never used
Basic, so your results may differ.
> I can't seem to get mine to show nor is Class an option on the
> display tab for any report in Quicken.
The class is always present in the category field of
transactions in reports; it's not a separate field.
> I can run P&L reports in Quickbooks with a column for each
> class plus a total.
This option is available for the Quicken Cash Flow report ...
you can "organize" the report by "Income/Expense", instead of
the default "Cash Flow".
> In Quicken all I can seem to do
> is to go to the Class list and run a report that lists
> the transactions. Not a a P&L, not even by category.
The Income/Expense report can be customized to include any
combination of clasess ... including just one class. Running one
Income/Expense report for each class plus one for all classes,
would suffice to show the P&L for each company and one combined.
No, there is no subtotal by class for the Income/Expense report,
but the result of creaing one report for each class is
essentially the same. (Perhaps the H&B version of Quicken would
have that option ... it does - or did - have a separate "Profit
and Loss" report.)
The Banking Transaction report can be subtotalled by Class, and
its default "organization" is Income/Expense.
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