Question

Splitting a company from exisiting QB account and moving it to it's own

Forum|Forum|5 years ago
June 9, 2021
2 replies
35 views

Hello!

We currently have one quickbooks online account for 2 companies (originally it was just one, but recently they have grown and morphed into their own). We created a new quickbooks online accounts but I don't know how to move the existing data into the new file. As far as taxes go, we filed all together for 2020 so the data from both companies (we had them separated into classes) needs to stay in the existing account, but we also want it in the new one for reporting and analysis etc. Can I import just data from one class into a new quickbooks account? and then can I just start bank entry downloads from the time we separated them or should I go back to the beginning of 2021?

Thank you!

QuickBooks Online

J

JonpriL

Level 9

Hello @SarahBeth1130,

In QuickBooks Online, you can separate two accounts identified by class by exporting and importing them. In QuickBooks Online, there are sets of list entries you can move to separate accounts into two working companies.

That said, here's an article you can read to learn more about the guidelines you need to follow in separating your accounts: Move your lists to QuickBooks Online.

However, I'd still recommend contacting your accountant for guidance in handling your accounts and for the accuracy of your accounting books. If you haven't yet, you can use this link to find a bookkeeper near you: Business is better with a ProAdvisor.

Need help performing any tasks related to your business account and company settings, click here to access and browse all articles for QuickBooks products. This reference contains most resources with steps on how you can update your data and security management, to name a few.

Don't hesitate to post again here if you have other questions or concerns with QuickBooks tasks and navigations. I'm always around happy to help. Stay safe and have a good one!

Fiat Lux - ASIA

Level 14

@SarahBeth1130

Do you need to manage one of the company data on 2 different QBO accounts? I would recommend to split the data completely from your current QBO account into 2 new separate QBO accounts for 2 company data.

https://quickbooks.grsm.io/US

https://quickbooks.grsm.io/us-promo

Purchase a 3rd party service or utilize a migration tool to do so.

https://transactionpro.grsm.io/qbo

then explore this app to consolidate your reports and analyze them.

https://go.zoho.com/M5c