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pclark1
Level 1

Can I use my single version of Quickbooks to manage 2 different companies having two different company files. And if so, how do I switch back and forth?

 
4 Comments 4
ShallyMarR
QuickBooks Team

Can I use my single version of Quickbooks to manage 2 different companies having two different company files. And if so, how do I switch back and forth?

Hello, pclark1.

 

It's nice to see you here in the Community.

 

Yes, you can use your QuickBooks Desktop to manage two different company files. Follow the outlined steps on how to switch and open other companies.

 

1. Go to the File menu.
2. You can click Open Previous Company, then choose the company you want to open.

 

 

3. You can select Close Company, then tap the company you want to open.
4. Click Open.

 

 

 

To learn more about the restrictions of opening a secondary company file in QuickBooks Desktop, check out this article for future reference:  Open and use a secondary company file.

 

Please come back to the Community if there's anything else I can do for you. I wish you all the best.

Jandls
Level 2

Can I use my single version of Quickbooks to manage 2 different companies having two different company files. And if so, how do I switch back and forth?

My question is a variation of this. I have a client that has recently decided to separate 1 company file with 2 bank accounts into 2 separate company files. One for each bank account, since they are separate legal entities.   Wondering if there is a way to "copy" the current company file and then rename it in a way that it is a separate company file and delete the data from the "other" company from each of the files? 

Or is there a better work flow to make 1 company file into 2 separate companies without have to reenter all the data? The COA will be very similar so I can easily just inactivate the few that won't be needed.  The vendors will be the same, no employees or customer yet, young company. It's the bank transactions I don't want to have to enter again. 

ShiellaGraceA
QuickBooks Team

Can I use my single version of Quickbooks to manage 2 different companies having two different company files. And if so, how do I switch back and forth?

Hi @Jandls,

 

QuickBooks Online has an option to export and import lists. This way, you won't have to re-enter these data into your other account. Transactions are needed to be entered manually. Below are the lists of what you can transfer.

 

  • Lists (Account ListCustomer Contact ListVendor Contact ListProduct/Service List, Employees.)
  • Reports (General ledger, Profit and loss, Balance sheet, Trial Balance, Journal.)

To export, here's how:

 

  1. Go to Gear at the top.
  2. Under Tools, select Export data.
  3. Choose Reports or Lists.
  4. Click Export to Excel. Tick OK when done.

Here' how to import data to your other QBO account:

 

  1. Go to Gear at the top.
  2. Under Tools, select Import data.
  3. Choose a list, then Browse the location of your Excel or CSV file.
  4. Follow the steps that'll guide you through the rest.

With these steps, you're able to transfer some of your data without reentering them again. You can learn about moving list at this link: Move your lists to QuickBooks Online.

 

I'll also share with you our guide on your first hour with QuickBooks Online which I'm sure you'll find helpful. It has details to walk you with your account.

 

Let me know if you need help with anything else. I'll be around to assist you further. Thanks for joining us today and happy weekend.

Fiat Lux - ASIA
Level 15

Can I use my single version of Quickbooks to manage 2 different companies having two different company files. And if so, how do I switch back and forth?


@Jandls wrote:

My question is a variation of this. I have a client that has recently decided to separate 1 company file with 2 bank accounts into 2 separate company files. One for each bank account, since they are separate legal entities.   Wondering if there is a way to "copy" the current company file and then rename it in a way that it is a separate company file and delete the data from the "other" company from each of the files? 
 


@Jandls 

Create a backup file and restore it with another name. You can delete certain data manually or using a 3rd party deleter tool later to clean up.

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