Keeping Business and Personal accounts separate

I Currently have a business bank and credit card using the Foundation sheet. I would like a totally separate sheet for personal accounts. What are the steps to achieve this?

Thank you.

1 Like

Hi @boydo and welcome to the community!

The steps to achieve a totally separate sheet are generally the same as setting up your first sheet. First, you can add your personal accounts to the Tiller console (https://sheets.tillerhq.com/).
I don’t believe the new accounts will be automatically added to your existing sheet, but you can confirm which accounts are linked from the console. Once your accounts are added, you can create a new sheet starting from the console. Follow the steps outlined in the template, and when you reach step 6, only select your personal accounts to link to the sheet.

You can follow these steps and link up to a total of five sheets to Tiller.

I hope that helps!

2 Likes

I’m new to the community as well and I’m super excited about the possibilities of Tiller. I am a little confused about the process of tracking Business & Personal expenses. Should I link my personal accounts (savings, checking, credit cards) and business account(s) in the same foundation template or create two different foundations sheets to separate my business accounts from personal accounts? My only hesitation on doing this is that occasionally I might use my personal debit card for a business expense and need to track this business expenses in my personal account from taxes. Also, I pay myself through payroll and also take draws out each year. Basically, my accountant has suggested that I pay myself a base salary as a W2 employee then pay myself (if needed) through draws as a 1099. How would you recommend I track this or is there articles I could refer too? Thanks in advance for your help!

Welcome, @cdiepholz :wave:

We have some content about Small Business and the dashboard that’s available in the Community Solutions add-on here: Docs: Small Business Comprehensive Guide

I’d recommend keeping business and personal accounts separate and try not to co-mingle. If you do use a business for personal or vice versa I recommend just manually copying/pasting the transaction to the correct sheet and remove from the non-applicable sheet.

As for the W2 / 1099 question, I’d get set up with Tiller and then share with your accountant and ask for their advice.

1 Like

Heather,

This is perfect! Last question, I spent hours categorizing my personal categories and business categories on the Excel Foundation Template. I see that many of these templates and the community templates are formatted for Google Sheets. Is there away for me to convert all my work (Foundation Template) into a Google Sheet or convert one of the community member templates to an Excel Format (preferred method)? Thanks again for your help and I am very excited about the possibilities of this software!

Kind Regards,
Christian D.

Hi @cdiepholz,

Great questions. There definitely are a lot more community-built solutions for Google Sheets right now, but slowly more Excel solutions are being shared. You can find them here: Show & Tell - Tiller Community

If there is a specific one you’re most interested in having converted to Excel, let us know. There really isn’t an easy way to do it or step by step for DIY because the formulas are so different between the two platforms.

If you want to transition to Google Sheets our recommendation is to use the steps in the guide below for migrating your data from Excel to Google Sheets.