cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

How do I combine 2 Accounts since I have two companies?

 
2 Comments
Highlighted
QuickBooks Team

How do I combine 2 Accounts since I have two companies?

Hi @pjtracy11,

 

Although there isn't a direct way to combine 2 QuickBooks Online (QBO) companies, what you can do is import your company data from one to another. 

 

I suggest importing your Chart of Accounts first. To prepare your Excel first for upload, follow the steps in this article: Move your chart of accounts to QuickBooks Online. Look for Step 1: Get your spreadsheet ready section.

 

When it's ready, go with these steps to upload the Excel file:

 

  1. Log in to your QBO company.
  2. Click the Gear icon.
  3. Select Import Data.
  4. Tap Chart of Accounts.
  5. Hit Browse, then search for the Excel file.
  6. Press Open, then Next.
  7. Follow the onscreen prompts to proceed. 

Right after, you can also upload Customers, Vendors, Products and Services, and Invoices. Do this in the order I've provided to ensure your data imports correctly. 

 

If you have other questions about the import process, check out this article: Common questions about importing data to QuickBooks Online. You'll find the list of FAQs at the bottom of the page, along with their answers. 

 

Do you need further assistance? Leave a comment below, and I'll get back to you. 

Highlighted
Level 15

How do I combine 2 Accounts since I have two companies?

Each company is required to have its own set of books, you do not combine them

 

IRS Pub 583, Page 5 - must keep separate books per company

and for sole proprietors
IRS Pub 334, page 40 - "If you have more than one business, you must figure your net profit or loss for each business on a separate Schedule C."
IRS Pub 334, page 45 - separate schedule C for each business

Need to get in touch?

Contact us