Let’s start our article about the “Set up Multiple Companies in QuickBooks“. With QuickBooks, you can manage multiple companies of small and medium-sized businesses that offer accounting solutions for in-house work management or cloud-based versions.
It makes way for not just one company but multiple companies. No, that’s no kidding. It is true. You can manage your branches of the company and integrate every data in one. Apart from making business transactions possible for a single company, managing multiple companies or firms under one umbrella is quite cost-effective too. QuickBooks has been setting up standards for other competitors with this USP of it. Adding second companies for the purpose of invoicing in order to improve cash flow and other functions like payroll and reporting you can follow these below-given functions.
How to Set up Multiple Companies in QuickBooks
- QuickBooks needs to be installed and I am assuming you already have one installed.
- Now the obvious step is to launch QuickBooks by clicking on the icon.
- Once it has been launched, on the homepage of the application, you will find File menu.
- From the menu, click on select New Company from the drop down list.
- After this, you need to click on the Start Interview which you will find on the Window of New Company.
- After this, you need to fill in all the details like the company name, address, contact information in the field meant for those details.
- You will see the Next Click on that.
- Following the same process, you can click on the above mentioned fields and enter the required information of other companies that you would want to save.
- You must then navigate to the folder where you would like to save the new company’s file in the Filename for New Company dialogue box.
- Now save the changes made by clicking on Save button.
- Click on Next to continue.
- There are other details you might have to enter about the company.
- Select the industry to which the new company belongs.
- You should also enter business or credit accounts.
- Then finally click on Finish.
Thus now the set-up is complete and after the steps followed in sequence and you have now successfully set up multiple companies in QuickBooks or added the companies. You can check how the name of each company appears. You can do that by clicking on the File menu and then clicking on Open Previous Company. This way you can switch between the companies too.
With these simple steps, your business will soar higher with new heights of success that you must have never imagined. Simple and steady are the two mantras that are the trademarks of QuickBooks. Get geared up for an unstoppable journey of success for your business.