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Everything you need to know about connecting your bank and credit cards in QuickBooks Online
mislam_031212
Level 1

I have 2 small business. One is corporation that I am maintaining with Quickbooks. Can I bring my self-employed business in my Quickbooks separately with my corporation?

 
2 Comments 2
Jovelyn_M
QuickBooks Team

I have 2 small business. One is corporation that I am maintaining with Quickbooks. Can I bring my self-employed business in my Quickbooks separately with my corporation?

Hi there, Mislam. Just to clarify, are you looking to run both of your businesses under a single QuickBooks subscription?

 

If so, this is possible using the Class Tracking feature to categorize transactions by business. However, this feature is only available in QuickBooks Plus and Advanced. Please note that this is not advisable, as it can complicate your filings and cause significant headaches during tax season or an audit.

 

The best move is to keep them separate. While this means you'll need an additional subscription, it will save you a lot of trouble in the long run. You can still use the same email and login for both files. When you sign in, QuickBooks will prompt you to select which company you want to open, making it easy to switch between them.

 

Keeping your finances distinct is important, especially since your corporation and self-employed business are considered separate legal entities.

 

Please know that you can always get back here if you need anything else.

SIAB
Level 8

I have 2 small business. One is corporation that I am maintaining with Quickbooks. Can I bring my self-employed business in my Quickbooks separately with my corporation?

@mislam_031212 

One QBO account is for one company file. You need to open a new QBO account for your second business or use old QB Desktop with a non subscription license.

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