How to Setup Multiple Companies in Quickbooks Desktop & Online

How to Setup Multiple Companies in QuickBooks Desktop & Online is one of the most important aspects of being able to manage the accounts if you own multiple companies. While accounting at QuickBook is a breeze, however, doing the same if you have various organizations, clients, or companies at a time can be challenging. But, not anymore. The best part is that you do not require a separate or a different QB file to do the same. So, how do you go about the task and what are the few pointers you need to bear in mind? Let us take a closer look:

To Manage More Than One Company in the QuickBook

Once you have set up the QB desktop, you need to set up the company subsequently. After you have set the offline version of the company, you can add multiple companies as you require. This is how we do it:

• Initiate and establish the QuickBooks Desktop.
• Use the local computer or PC to log in to your account.
• Locate the ‘File tab’ and click on it. Now select the ‘New Company’ option to launch the new screen.
• Next, click on the ‘Start Windows’ option located on the New Screen. Here, is where you will be able to find various data like contact details, Name, address, and others.  Select a proper place to save the New Company.
• After this, click on NEXT to launch a new dialogue box. This new Window will be the file name for the New company.
• Now, to save the New Company you will need to Open the particular folder to Save this particular file. Name this file and click on SAVE.
• Now, that your New file has been created, click on SAVE and finish the rest of the steps according to the instruction box that will subsequently appear on your screen.
• You might need to share your business account along with your Credit Information to complete the entire process.
• Lastly, the Setup process is complete. Likewise, you can repeat the above steps as many times as you wish for multiple companies in question.

To be able to Transfer In Between the Different Companies in the QuickBooks Desktop

Now, that you have successfully established the different companies, using QuickBooks, you will need to be able to navigate across the companies. This can be done easily from the Primary Menu of the current Company File. Here, you will be able to notice various options, such as the Name or the ‘Open Previous Company. Once you click on the required option, it will navigate you to a new screen which will contain the list of the names of the organization in your account. It is here that you will be able to locate the concerned Company File you wish to access and click on OPEN.

To Add A Second Company to the QuickBooks Online

On how to set up Multiple Companies in QuickBooks Desktop & Online,  you will need to know how to add the second company. Follow the steps below:

• Before you create the new company using the QuickBooks online version, you will need to ensure an Active Service subscription to the QuickBooks online.
• Next, select the country of your choice. This will help QB to launch a website in that particular area.
• Next, you will need to design the QuickBook online account if you are missing one.
• Now, select the QuickBooks Online version which you will be using. This will take you to the ‘Sign-in’ page.
• It is here that the user will need to Sign-In with their existing account. Likewise, the user can create a new account as well.
• One needs to remember that setting up a new company on the QB is much similar to an entirely new subscription to the new organization.
• You will be offered options between Plus, Essential and Simple or Start as per your needs. Once you have made your choice, you will be able to purchase a Free trial version of the account.
• Finally, you can easily ‘Add Another Company’ with the help of the account registered in Intuit which is located on the upward side of the Window.
• You must follow the steps in the above-mentioned order to be able to easily add various new companies to the QB.

Conclusion

QuickBooks Online is one of the most preferred software for small companies, businesses, and start-ups. It is possible to easily accomplish various accounting needs using QB as it comprises the following features:

• Mobile Inventory Scanning
• To be able to print multiple checks within seconds
• Can customize the invoice as and when required.

Also, with the help of automated backup services the financial data are safe and secured in QuickBooks Online.

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FAQ

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