Can I use QuickBooks for more than one Business? Well, if we have to answer your query “Can I use QuickBooks for more than one business?” with a simple yes or no…
The answer would be a big “Yes”.
Yes, you can use QuickBooks for more than one business at the same time. QuickBooks offers you great flexibility that allows you to manage the financials of different companies under one QuickBooks copy.
If you are worried about having cluttered data with all the financials messed up under your accounting program then worry not. QuickBooks allows you to manage each business separately. Your first business data will be entirely different and managed in a different folder than your second business.
How can I Use QuickBooks for More than one Business?
As now you know that you can run multiple businesses in QB, thus now is the time to move to the next step and that is “How can I use Quickbooks for more than one business?”
The process to create a new company file is simple and absolutely similar to setting up a new business. Provide all the info, about your new business and your company data, which will be all set and ready to use in QuickBooks. As already said, each business will be stored in its own file thus there is no chance of mixing financials.
Steps to Setup QuickBooks Multiple Companies: One File
To use QuickBooks effectively, you’ll need to set it up as multiple companies. This process can be a bit tricky, but with a bit of help from QuickBooks, it can be done quickly and easily. It is easy to set up and use, making it a good choice for businesses of all sizes. If you have more than one company, QuickBooks can help you keep track of each one’s finances independently.
- Login to your QuickBooks accounting program.
- From your dashboard’s top navigation panel, access the files menu.
- From the drop-down menu, click on the “New” tab. This will open up a new dialogue box to set up a new company file.
- Choose the start interview tab and the process to set up a new company will begin.
- You will now be followed by a set of prompts that would be like:
- Name of your new business,
- Contact details and other info.
- With all the information now provided, choose the next button. You will now be asked to save the file in your preferred location. Click on the Save button and navigate to the area, where you want to secure your business data.
- Click the next tab.
- Follow the prompts as they will be self-explanatory. Provide all the details that will be required to finish up your business setup process.
- Choose the finish tab and this will complete your setup for new business in QuickBooks.
If you have more businesses whose financials you want to store within QuickBooks then you have to start the process all over again and you will now see multiple companies under one QuickBooks.
How can I Manage Multiple Businesses in QuickBooks?
As now that you have multiple companies maintained, all you need to do is manage them in QuickBooks.
The easy way to shuffle or switch between different companies in your accounting software is to use the file option. Here are the steps to navigate between different companies:
- Login to your QuickBooks dashboard.
- Choose the files button from the top-most navigation bar.
- A drop-down menu will now open.
- From the list of options provided, choose open previous company This will further open up the slider.
- Choose the business you need to update within QuickBooks. Click on the file and the same will open for you to make any changes.
Hope you are now successfully managing different business data under one QB copy.
But if in any case you are still asking “Can I use QuickBooks for more than one business” and aren’t able to manage them under one file then you need our QuickBooks experts Consultant.