Help setting up my drive

I just bought a WD1 TB my book essential.

Since i’ll be editing large video files on both PC (premier) and MAC (fcp), i want to be able to use the drive to transfer stuff from one to the other.

I also want a partition that can be used for backing up personal stuff, such as photos and videos.

Where do i begin? which format system do i use? Can i have diffrent partitions with diffrent formats?