How to Setup Multiple Companies in Quickbooks

You can handle the finances of many companies without needing a separate edition of Quickbooks if you are managing multiple businesses. The same Quickbooks software may be used by many companies. In this article, we will discuss how to setup multiple companies in QuickBooks.

You should be aware that Quickbooks comes in two different editions. You have the option of subscribing to the online edition 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 workplace. Whichever one you decide on will rely on weighing the advantages and disadvantages of each and your tastes.

On the contrary, if the error persists, we recommend you to get in contact with our 24/7 QuickBooks error support team by doing live chat or booking an appointment. Addressing your queries is our foremost concern.

Comparison between QuickBooks Desktop and Online

Depending on the version you are using, there are two procedures you may take to establish several businesses under the same account because there are two versions of the program.

No matter how many companies you open while using the offline version of the application, creating a new company is the same process; you will just utilize the New Company Interview wizard to accomplish it. Every time a new business is opened, a file will be created for you, and you may personalize it to suit your tastes.

Set up Multiple Companies in the Desktop Version

You may use the same Quickbooks edition for multiple companies in the Desktop version:

Launch Quickbooks: The first action is to start your computer's Quickbooks program. Navigate the program after you've found it. You can use your login information to access your account 

once it is open. then select the "File" tab from the main menu.

Start the Interview: After selecting the "File" tab, a drop-down menu with several options will display. Choose the "New Company" option from this menu. The "New Company" window will now open. To start the interview, select the "Start Interview" option from that box.

Save the Company File: You must now provide a few preliminary details for your new firm after saving the company file. It will need a name, an address, and contact information, all of which must be provided. After doing that, you should save the new company file in a place of your choice. Once you have completed the required fields, select "Next" from the menu.

The "Filename for New Company" dialogue box will open in the next step. You'll need to find the precise folder where you want to save the business file. Click the "Save" button after naming the file that you want to save. Quickbooks will now establish the new company file. After completing this step, move on to the next by clicking the "Save" button.

You must now proceed with the remaining interview steps: The dialogue window will urge you to enter the company's details. The more information you submit, the better, so try to fill out every field. You should mention things like the new company's business and credit accounts, as well as the sector in which it works. This is the final stage in the interview process, and after you're done, click the "Finish" button to complete it.

Regardless of the firm you are attempting to establish, the procedure stops there. You may repeat this as many times as you like, depending on how many firms you want to add to your account, as it is the same for whatever company you are forming.

Alternating between Businesses

The procedure is easy to follow if you want to go from one business file to another. Go to the main menu bar from the current company file and select the "File" tab. When you click on it, several alternatives will become accessible to you. The "Open Previous Company" option should be selected. You will now be taken to another window that has a list of the firms that are associated with your account. Select the exact firm file you want to access by searching for it, clicking on it, and then selecting the "Open" button.

Setup Multiple Companies in the Online Version

Multiple companies will each have their subscription set up in Quickbooks Online. You will initially need to open an online Quickbooks account if you don't have one already.

Select a Country: The first step is to select a nation for your new business. Go to https://quickbooks.intuit.com in your browser. Choose the nation where you are located by going to */choose-country/*. The webpage for Quickbooks Online in your area will then be displayed to you.

Select the Quickbooks Version: Once you are on the correct page, select the Quickbooks version you want to use. Depending on the country, you can choose to either buy it immediately or begin the free trial. Whichever option you select, the Sign In page will be shown.

New account or Sign in On the Sign In page, you have the option of creating a new account or signing in with an existing one. Sign in to your Quickbooks Online account if you already have one. If not, you will need to make a new one.

You should be aware that the Master Administrator has authority and that your Quickbooks Online accounts are password-protected. A user does not automatically have access to additional firms in your account just because they have access to one of your companies. You must grant a user permission by adding them to the relevant user list if you wish to grant them access to a firm.

Adding Another Company

Adding a new company to Quickbooks Online is as easy as subscribing to a new business, as was previously stated:

Choose a Country: Once more, begin by selecting your nation at https://quickbooks.intuit.com/choose-country/ so that you may be redirected to the appropriate Quickbooks Online page.

Select a Quickbooks Version: Depending on the subscription package you desire, you need now select a Quickbooks product. Simple Start*t*, Essentials, and are your options. After choosing a product, either start the free trial or make a purchase.

Buy Now or Continue Free Trial: You will have a choice between two options on the following page. Either you either continue the free trial or you must purchase the product right now. If you select the Buy Now option, you could be given a discount.

Add Company: You may easily add another company now that you've previously created an Intuit account. Choose the "Add another company?" option found at the top of your screen.

In conclusion

Quickbooks is a software that allows users to manage the finances of multiple companies without needing a separate edition. Quickbooks is available in two editions, online and desktop versions. The procedures for setting up multiple companies differ between the two versions. In the desktop version, the user must create a new company by selecting the "New Company" option from the "File" tab.

In the online version, each company will have its subscription set up in Quickbooks Online. Users can add new companies by subscribing to a new business. The process of adding a new company to Quickbooks Online is straightforward. Ultimately, the choice between the two versions of Quickbooks depends on the user's needs, and preferences, and weighing the advantages and disadvantages of each.

FAQ

Can I use the same QuickBooks software for multiple companies?

Yes, you can use the same Quickbooks software for managing multiple companies without needing a separate edition of Quickbooks.

What are the two different editions of Quickbooks available?

There are two editions of Quickbooks available: the online edition and the offline (desktop) version.

What are the advantages of using the online edition of Quickbooks?

The online edition of Quickbooks allows you to securely save your data in the cloud, providing access to your information from anywhere with an internet connection.

Can I use the offline version of Quickbooks for multiple companies?

Yes, you can use the desktop version of Quickbooks to set up multiple companies.

How do I set up multiple companies in Quickbooks Desktop?

To set up multiple companies in Quickbooks Desktop, launch the software, select the "File" tab, and choose the "New Company" option to start the interview.

How do I switch between different companies in Quickbooks Desktop?

To switch between different companies in Quickbooks Desktop, go to the main menu bar from the current company file, select the "File" tab, and choose the "Open Previous Company" option.

How do I set up multiple companies in Quickbooks Online?

To set up multiple companies in Quickbooks Online, you need to subscribe to a new Quickbooks product, either by starting a free trial or purchasing a subscription package.

Can I grant multiple users access to my Quickbooks Online account?

Yes, you can grant access to multiple users in your Quickbooks Online account by adding them to the relevant user list.

How do I add a new company to Quickbooks Online?

To add a new company to Quickbooks Online, select your country on the Quickbooks website, choose a Quickbooks product, and start the free trial or purchase a subscription package.

Can I use Quickbooks Desktop and Quickbooks Online interchangeably?

No, Quickbooks Desktop and Quickbooks Online are two different software versions, and you cannot use them interchangeably.