You shouldn’t have a separate copy of QuickBooks to handle the finances of each distinct business if you are in charge of more than one. The same QuickBooks software can be used by several businesses. In this article, we will discuss the instructions for “How to Setup Multiple Companies in QuickBooks”. The purpose of this article is to provide you with all necessary knowledge and offer you with the necessary help to enable you to complete the required work. In order to learn how to set up several companies in QuickBooks, stay tuned with this article and read it thoroughly till the end.
Which and All Version of QuickBooks Should We Use to Setup Multiple Companies in QuickBooks
You should be aware that QuickBooks comes in two different versions. You have the option of subscribing to the online version of QuickBooks, where your data will be securely saved in the cloud, or buying the offline version of QuickBooks for your desktop computer’s local area network at the office. You can select any of these versions if you want to add several businesses to QuickBooks. In other words, the feature is supported by both versions. Yet with a few minor exceptions, the procedure is essentially the same. However, the decision mostly depends on your preferences and needs.
Steps to Setup Multiple Companies in QuickBooks Desktop Version
In the desktop version, you can use the same QuickBooks software for multiple companies.
- Start by launching QuickBooks on your PC and then navigate on your application. You must enter your user ID and password change to get into your account when it opens. Then locate the main menu and choose the “File” menu.
- A drop-down menu with several options will show after selecting the “File” tab. Choose the “New company” option from the options provided. On your computer screen, the “Create Company” window will now open. To start the interview, choose the option in the window that says “Start Interview”.
- You now need to submit some preliminary company information. You must name it, include its address, and list all of its contact information. After doing this, you must save the new company’s file in the desired location. Choose “Next” after filling out the first set of fields.
- The “Filename for new company” window will open for the following step on your screen. You must find the precise folder where you want to save the business file. Click on the “Save” button after entering a name for the file. QuickBooks will now build the file for the new company.
- To move on to the following step after finishing this one, click on the “Save” button.
- You must now move on to the following interview steps. As instructed by the dialogue box, you must enter the company’s information. Try to carefully complete all of the fields as you enter more information. You must be acquainted with the new company’s credit and company accounts as well as the sector of the economy in which it operates. The interview procedure will end at this step, at which point you can click the “Finished” button to wrap things up.
The company that is attempting to establish you is where the process concludes. You can repeat this process as many times as you like because it is the same for every company you open; the number of businesses you add to your account is entirely up to you.
How to Switch Between Companies in QuickBooks?
The process is quite easy to follow if you wish to switch from one company file to another.
Do the following actions:
- From the open company file, access the menu bar
- You can choose from a variety of options when you choose the File menu; choose “Open Prior Previous Company”
- You will now be redirected to another account window with a list of companies
- Find the specific company file you need to open using a search, then choose and then “open” that file.
Steps to Setup Multiple Companies in QuickBooks Online Version
Each company will set up its own membership to Quickbooks Online. You must first create an account for your online QuickBooks if you don’t already have one.
- By visiting the following website, https://quickbooks.intuit.com, you must first select the nation for your new company
- Go to the */choose-country/* and choose the nation from where you are
- After that, the official QuickBooks Online website, which is specific to your location, will then be redirected to you
- Choose the QuickBooks version you wish to use once you are on the correct website
- Depending on the nation, you now have the choice of buying it or starting a free trial
- Whatever option you select, the sign-in page will be displayed.
Important Note: Don’t forget that QuickBooks Online has master administrator access and is password-protected. It does not follow that a user will automatically gain access to all the companies in your account just because they have access to one company. A user must be granted access by being added to the relevant user list if you want them to be able to access a company.
Step by Step Instructions to Add Another Company in QuickBooks Online
In the QuickBooks Online Version, adding a new company is as easy as subscribing to one, as was already discussed.
- By clicking the following link, you can first select the nation for your new company: move to the https://quickbooks.intuit.com*/choose-country/* and choose the nation from where you are
- Next, the official QuickBooks Online website, which is specific to your location, will then be redirected to you
- The QuickBooks package you select now will depend on the type of subscription plan you require
- Choose between the Basic, Essential, or Plus editions
- Once you’ve decided on a product, either buy it or begin a free trial.
- There are two options for you on the following page
- Unless you need to continue the free trial or purchase the goods right away
- You might be given a discount if you select the “Purchase Now” option
- It’s that easy to add another company once you’ve previously opened an Intuit account
- Choose “Add another company” from the menu at the top of the screen.
Important Note: Be aware that you must pay a subscription charge for each of your registered QuickBooks Online companies each month. One drawback of using QuickBooks Online for several companies.
After reading the article, you can easily setup multiple companies in QuickBooks. Also, you can repeat the same process for every companies that you want to add. However, you can access all of them on a single account using the same ID and password. Moreover, you can reach out the Team of Experts LIVE CHAT by dialing QuickBooks Helpdesk Team.
Frequently Asked Questions
Can We Utilize One QuickBooks Account for Several Computer?
Absolutely, using a single QuickBooks account for many businesses is perfectly acceptable. You must go to the QuickBooks price page in order to choose the subscription option. You will get the message “YES” here; choose to move forward as needed.
Can I Use a Single QuickBooks Online Subscription to Run Two Different Businesses?
Sure, by using the class tracking feature of QuickBooks Online, you may manage two distinct businesses with just one membership. If the two different businesses have the same EIN, this will function.
Is it Possible for a User to Switch Between QuickBooks Desktop and QuickBooks Online?
Yes, it is simple to “shift” data from the Desktop version of QuickBooks to the Online version. The fact that some data can be transferred and others cannot must be kept in mind.
You must manually enter the data into QuickBooks Online to accomplish this. While certain types of information can be handled in a specific way, others might need to be adjusted.