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Join nowI am 99% sure if you have two different tax ID's as two different companies, you must have two different QB's, since you must file two different tax returns. If I were your accountant, I would ask (or already know) why you have two different companies? What type of entities they are (C-Corp, S-Corp, etc.) and what relationship is between them that you need to transfer costs between them? In order to be able to answer your questions.
I agree with Teri, adaptelectric.
In QuickBooks, one business account is allowed per subscription. If you have two companies, you'll be paying the two subscriptions. However, we can use the same credentials to easily switch between accounts.
On the other hand, we'll have to export and import the data to move it to a different QuickBooks account. I'll show you how:
Here are the steps to export:
Once you're ready to import them into the other QBO account, you can check these articles:
If you're trying to transfer your QBO data to QuickBooks Desktop. you can check these articles for the steps and the list of limitations:
Feel free to get back to me if you still need my help. Stay safe!
If you have to open a new QBO account, make sure to click the Buy button to get the discounted price for up to 6 months. If you purchase from the trial account, you have to pay the regular price.
https:// quickbooks.grsm.io/US
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Then utilize a 3rd party tool to migrate data between QBO accounts
https:// transactionpro.grsm.io/qbo
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