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Join nowI'm using Quickbooks simple start for my business. And I'm using Quicken for my personal banking. But I'm sooo tired of the glitches in Quicken, for example every time I log in I have to reconnect my Capital One CC's.
Can I open 2 accounts/files in my Quickbooks subscription (business and personal banking) or do I need 2 subscriptions?
Thanks!
Solved! Go to Solution.
Let me share additional insights about connecting multiple bank accounts in QuickBooks Online, @BADboy.
In QuickBooks, you can connect as many accounts as you need. You can connect accounts you use for both business and personal. However, I would recommend keeping your personal accounts separate from your business. If you want to use QuickBooks Online to track your personal finances, you may want to subscribe to a second subscription and set up your home finances as it's own company file. This may not seem significant but may reduce the likelihood of an IRS audit and will lower your tax preparation fees.
If you'd like to connect your personal account in QBO, follow these steps below:
These steps are also available from our guide on connecting bank and credit card accounts to QuickBooks Online.
In case you encounter issues when connect your bank accounts, check out our troubleshooting guide on how to fix them.
Should you need further assistance, please let me know. I'm always here to help. Have a good one.
You can connect multiple bank accounts, BADboy.
If you want to link the two accounts, we can add the other account as a sub-account. Let me guide you with these steps:
If you want to have a separate tracking of the accounts, you can connect them directly to QuickBooks.
Once connected, you can now categorize the transactions. You can check this link as your reference: Categorize and match online bank transactions in QuickBooks Online.
Let me know if there's anything that I can help. Keep safe!
Thanks Adrian,
I'm a little confused. If I create a sub-account will my personal bank and CC accounts be included in the reports (P&L, Balance, etc.) for my business?
I want my personal accounts to be completely separated when I run reports -- i.e., have the ability to run my personal and business reports separately.
Thanks!
Let me share additional insights about connecting multiple bank accounts in QuickBooks Online, @BADboy.
In QuickBooks, you can connect as many accounts as you need. You can connect accounts you use for both business and personal. However, I would recommend keeping your personal accounts separate from your business. If you want to use QuickBooks Online to track your personal finances, you may want to subscribe to a second subscription and set up your home finances as it's own company file. This may not seem significant but may reduce the likelihood of an IRS audit and will lower your tax preparation fees.
If you'd like to connect your personal account in QBO, follow these steps below:
These steps are also available from our guide on connecting bank and credit card accounts to QuickBooks Online.
In case you encounter issues when connect your bank accounts, check out our troubleshooting guide on how to fix them.
Should you need further assistance, please let me know. I'm always here to help. Have a good one.
Thank you.
That's the answer I'm looking for: The only way to keep my personal and business finances separate, I need to have 2 subscriptions, one for business and one for personal.
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