Newbie question) Just installed QB premier desktop version.

Arrow739 · ‎December 30, 2020

Hello.

I have a C coperations businesses.

I purchased QB many years ago. and I haven't use.

And I just installed 2021 QB premier desktop version.

So I don't know nothing about QB.

Q1.

My business does wholesale and retail.

When I setup QB at first time, it asked type of business.

Do I have to choice Wholesale, or do I have to choice general?

Q2.

What I want to do with QB is handle my business and my personal income/expenses.

I wonder if I need to make 2 accounts[one for business and one for personal] to do that?

Or Can one account handle both business and personal by default?

Q3.

Can you let me know what I need to do first?

Is there a good video for newbie?

Thank you!

have an account for my business, and another account for personal

Fiat Lux - ASIA · ‎December 30, 2020

@Arrow739 wrote:
Q1.
My business does wholesale and retail.
When I setup QB at first time, it asked type of business.
Do I have to choice Wholesale, or do I have to choice general?

Wholesale

@Arrow739 wrote:
Q2.
What I want to do with QB is handle my business and my personal income/expenses.
I wonder if I need to make 2 accounts[one for business and one for personal] to do that?
Or Can one account handle both business and personal by default?

You should separate the file. You may have unlimited company file to manage by QuickBooks Desktop without any extra cost.

\Q3.
Can you let me know what I need to do first?
Is there a good video for newbie?

https://quickbooks.intuit.com/learn-support/en-us/manage-intuit-account/working-with-quickbooks-desk...

View solution in original post

Fiat Lux - ASIA · ‎December 30, 2020

@Arrow739 wrote:
Q1.
My business does wholesale and retail.
When I setup QB at first time, it asked type of business.
Do I have to choice Wholesale, or do I have to choice general?

Wholesale

@Arrow739 wrote:
Q2.
What I want to do with QB is handle my business and my personal income/expenses.
I wonder if I need to make 2 accounts[one for business and one for personal] to do that?
Or Can one account handle both business and personal by default?

You should separate the file. You may have unlimited company file to manage by QuickBooks Desktop without any extra cost.

\Q3.
Can you let me know what I need to do first?
Is there a good video for newbie?

https://quickbooks.intuit.com/learn-support/en-us/manage-intuit-account/working-with-quickbooks-desk...

Arrow739 · ‎December 30, 2020

Thank you for the answer.

You answered that it is better to make separate accounts for business and personal.

Can you let me know what I need to input when I create personal account for these?

Business name(I guess "my name") / Industry / Business type(I guess "other")

Does Quickbook provide an account for personal use only?

Fiat Lux - ASIA · ‎December 30, 2020

Actually QB is for business purpose only. You should explore Mint for personal one.

Arrow739 · ‎December 30, 2020

I guess many people use QB for both business and personal accounting to manage their income, expenses, payments, etc.

Because I already purchased QB premier for my business, and I can add one more account for personal,

I think it might be better to use QB for my personal account instead of having Mint.

I guess QB premier has more functions than Mint free version.

And my CPA also use QB for not only business tax report, but also personal tax report.

So I think it should be okay.

However I don't know nothing about QB Premier and Mint.

So plz let me know if you think it is better use QB premier for my business, and Mint for Personal.

Or QB premier for both my business and personal.

If you think it is better (or okay) to use QB premier for personal,

then Plz let me know which setup is the best for personal use

Thank you.

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Newbie question) Just installed QB premier desktop version.