If you want to use Quicken to manage the finances of more than one business, be very careful. Very careful. You must be especially diligent in keeping the financial records of the two businesses separate.

Quicken provides a handy tool for keeping the sets of records straight: You can work with more than one file. Each file, in effect, is like a separate set of financial records. You can't record automatic transfers between accounts in different files; instead, you must record each side of the transaction separately. You can, however, keep truly separate business records.

To create a separate file, choose File, New.

Keeping separate bank accounts is also a must. If you keep separate records for two distinct businesses in Quicken, you need to set up separate bank accounts for them. In fact, in the case of a corporation, you must set up a separate corporate bank account for the corporation to be truly considered as an independent legal entity. Talk to your attorney if you have questions; attorneys can tell you the specifics that apply to a particular state and situation.