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Quicken Users~Questions

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In an effort to organize Dear Loved One who is a contractor, I've undertaken keeping track of the enormous amount of paper work generated by his current job, but I am not an accountant and Quicken baffles me.


I want to be able to create an account that reflects a client's deposit and payment that is then drawn against to pay for materials and services, plus I want to create a statement, not an invoice, that reflects these transactions with a balance forward. For some reason Quicken doesn't want to do this.


When I enter a payment or deposit these dollar amounts are shown in as a debt in red, and I'm unable to get the program to debit items on a business credit card without the program adding rather than subtracting the debit.


I have figured out a backwards way of getting the program to do what I want, but I know it's not the way it is supposed to be done.


Is it me or the program??? Is quicken really meant for small business??? Any advice?




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If I were you - I would invest in Quickbooks which is more tailored for a business. It will be similar to Quicken but you will be able to create statements and track jobs, customer balances etc.


You might be able to do that on Quicken - but I think Quicken is more for personal finances.


If you want to continue with quicken. Run all the payments and draw downs against the same expense account (a seperate expense account per job). Then you can run a report that will show you the net balance. That would be my backward way to do it! And that should work with payments on the debit card. If you use the debit card for materials related to the job then use that expense account as the category when you record it.


Hope that made some sense.

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Quicken cannot do what you're trying to do. Like MS Money it is a personal finance management tool.


What you need is QuickBooks, or a similar program, for small business accounting. Look specifically for the version aimed at contractors, as the "base" program will not have some of the functions you need in support of a contractor.


I know that QuickBooks has a version specifically for contractors & subcontractors, but I don't know how much it costs.

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