New QuickBooks file designed to be used for both business and personal record keeping with the use of QuickBooks class tracing feature.
It is generally recommended to have two QuicKBooks files, one business and one personal, and two bank accounts so that we keep business records as separated as possible. However, some small business owners may want to track personal and business expenses in one QuickBooks files.
We will set up a QuickBooks file designed to track both business and personal expenses and use the class tracking feature to show how such a system could work.