How to Manage Multiple Companies in QuickBooks Enterprise

QuickBooks Enterprise lets you manage multiple company files in one software setup—no need for separate subscriptions for each business. You can create and handle separate company files, each with its data, users, and access controls. This makes it easier to manage inter-company transactions and even run combined reports for all your businesses.

If you’ve two companies to run and manage together, you can install only one copy of QuickBooks software to serve your purpose. You can create different company files separated from each other in the same copy of the software.

How to set up QuickBooks Enterprise Multiple Companies for businesses and locations?

To setup QuickBooks Enterprise Multiple Companies, you need to browse the New Company Interview wizard. Each company has a separate file that can be customized as and when required. In short, even if multiple company files are created, you can customize them later. Contact now QuickBooks Enterprise Help Desk Number now in case users are unable to find any option in their dashboard.

If you run multiple companies, you don’t have to buy a new copy of QuickBooks to manage each company’s finances. You can create multiple company files that are completely different from each other.

How to Set up a New Company in QuickBooks

1. Open QuickBooks and go to File on the top menu bar.
2. Choose the new company from the drop-down list and click Express Start.
3. Fill in the new company’s name, address, and contact information in the provided fields, then click Create Company.
4. Repeat these steps for each additional company you want to set up.

To switch between companies in QuickBooks, click File in the top menu and select Open Previous Company. Then, navigate to the desired company file and click Open.

If you’ve recently upgraded to a new version of QuickBooks, you can still use your old company file. You don’t need to create a new one.

How to set up separate accounts for each company, business, or location

To set up separate accounts for each business or location:

• Navigate to the Lists menu and choose Chart of Accounts.
• Click on the Account button and then select New.
• Choose the type of account you need (such as bank, income, expense, etc.).
• Provide the name and relevant details for the account.
• Repeat these steps for every account you need to create.

Recommended: QuickBooks Enterprise Multi-Currency

How to set up separate customers and vendors for each company, business, or location:

To create customer or vendor profiles:

• Navigate to the Lists menu and choose Customer & Vendor Profile Lists.
• Click the New button and select the type of profile you need (Customer or Vendor).
• Input the name and details of the customer or vendor.
• Repeat these steps for each customer or vendor you need to create.

How to set up separate products and services for each company, business, or location:

To create items:

1. Go to the Lists menu and choose Item List.
2. Click the Item button and then select New.
3. Choose the type of item you need (such as service, inventory part, or non-inventory part).
4. Provide the name and details of the item.
5. Repeat these steps for each item you need to create.

After creating your company file, personalize QuickBooks for your business with these recommended steps:

1. Add your company information.
2. Create Products and Services.
3. Add Customers and Vendors.
4. Enter your employee information.
5. Create accounts on your chart of accounts.
6. Set up apps or subscriptions for payments, payroll, etc.
7. Enter historical data as needed.

Tip Of the Day: A number of CPAs had switched already QuickBooks Cloud Hosting solutions so they can manage multi- company and clients accounting or bookkeeping easily.

Steps to Add Multiple Companies in QuickBooks Enterprise

• The first step is to open QuickBooks. This is the accounting software that you will be using to manage your businesses.
• Visit the QuickBooks pricing page and select the subscription you want. It will decide how many businesses you can add to your account.
• Scroll down to the bottom and view the small text that says, “Adding a company to an existing account.” It is the link that you’ll use to add a new business to your QuickBooks account.
• Enter your QuickBooks user ID and password. These are the credentials you use to sign in to QuickBooks.
• Click Continue. This will take you to the New Company page.
• Click Start Interview. This will start the process of creating a new company file.
• Follow the on-screen instructions to enter details about your company, like your name, address, and phone number. These details will be used to make your company profile.
• Click Next. This will save the information that you have entered and take you to the File Name for New Company dialog box.
• In the File Name for New Company dialog box, enter a name for your company file and select a location to save it. The file name should be unique and easy to remember.
• Click Save. This will create the new company file and take you to the Create Your Company Profile dialog box.
• Create Your Company Profile dialog box, enter more details about your company, such as your business category and number of employees. This detail is optional, but it can be beneficial for QuickBooks to better understand your business category.
• Click Finish. This will create your company profile and take you to the QuickBooks home page.

How to manage multiple companies in QuickBooks Enterprise from one user Account

You don’t have to subscribe to another license if you add a second company to your QuickBooks account. You can add companies with different EINs separately to have the taxes recorded correctly.

Here are the Steps:

1. Click on the File in the top menu bar of QuickBooks.
2. From the drop-down list, select New Company, and click Express Start.
3. Enter the name, address, and contact information of the new company in the relevant fields and click on Create Company.
4. Repeat the process to set up other companies.

If you want to switch between companies, simply click File from the top menu and choose Open Previous Company. Navigate to the company file you want and click Open.

How QuickBooks Switches to Multiple Companies

Once you have created multiple companies on the same QuickBooks software, you must know how to switch between them when required. To switch between companies, you need to:

1. Click the File menu on the menu bar
2. Select Open Previous Company from the dropdown list
3. Navigate to the file you require
4. Click Open

How to Add Another Company to the QuickBooks Account

Here are the steps to add another company to your QuickBooks account. Follow all the steps carefully:

• First of all, you need to open QuickBooks’ official website https://quickbooks.intuit.com/choose-country/ on your browser.
• After opening the website, it will ask you to please select your continent
• Once selected your continent, select your country from the given list.
• After that, you will see two options Buy Now and Free 30-day trial, Now click on one option that you want.
• Now, you need to choose your new QuickBooks plan.
• After choosing QuickBooks’ new plan, click on Add another company.
• Then, enter your existing QuickBooks login credentials, and follow the prompts to complete the signup process.

Conclusion

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