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Join nowHello - We recently switched our small business from a sole proprietorship to an LLC. At this point, we have no employees on payroll, but have worked with a few independent contractors in the past. These contractors will work with us in the future as well.
How do we switch our QBO file from sole proprietorship to LLC (with a new EIN)? I would love to hear that we can just change the information in the account setup, but I suspect that it's not that simple. Any informed advice would be much appreciated.
Solved! Go to Solution.
Hello there, @peterschr. I came here to help you switch your QuickBooks Online (QBO) file from a Sole Proprietorship to LLC.
You have two options if you want to change your business name and EIN in QBO. The first option is to create a new company rather than simply altering your existing one's information. For tax purposes, this keeps your books separate. And it's probably best if you file with a different EIN.
If you don't want to create a new company, another option is to update your QBO file details. Let me guide you how:
To give you more information about this, check out this article: Change your business name, contact info, or EIN in QuickBooks Online. This link also includes steps on how you can change email address for your user ID.
In case you decided to create a new company file, here's the article that will guide you in managing multiple companies: Switch between company files.
I'm always around in case you have further questions in switching between Sole Proprietorship to LLC. I got you covered. Have a great day ahead.
Hello there, @peterschr. I came here to help you switch your QuickBooks Online (QBO) file from a Sole Proprietorship to LLC.
You have two options if you want to change your business name and EIN in QBO. The first option is to create a new company rather than simply altering your existing one's information. For tax purposes, this keeps your books separate. And it's probably best if you file with a different EIN.
If you don't want to create a new company, another option is to update your QBO file details. Let me guide you how:
To give you more information about this, check out this article: Change your business name, contact info, or EIN in QuickBooks Online. This link also includes steps on how you can change email address for your user ID.
In case you decided to create a new company file, here's the article that will guide you in managing multiple companies: Switch between company files.
I'm always around in case you have further questions in switching between Sole Proprietorship to LLC. I got you covered. Have a great day ahead.
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