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Frequent Explorer *

Merge 3 Companies Accounts in Quickbooks Using Classes?

I have 3 clients (A, B, and C) who want to fold into one. B & C want to become divisions/departments under A. If I use the class tracking categories then I can make separate P&Ls/Balance Sheets for them, which is what they really want.

 

Is there a clean way to do this? B & C won't have a lot going on in terms of daily or even weekly activity (B & C make money, and A handles the payroll/expenses). How would I upload the past expenses/accounts into A?

Solved
Best answer 06-25-2019

Accepted Solutions
Moderator

Re: Merge 3 Companies Accounts in Quickbooks Using Classes?

Thanks for keeping me updated about this, @phammond9009.

 

Allow me to provide clarifications regarding merging accounts in QuickBooks Online.

 

You'll need to have all the transactions of Company B and C to be imported into Company A so you'll be able to merge the chart of accounts. In making the import procedure possible, you'll need to look for a third-party application that integrates QuickBooks with importing transactions. 

 

To give you more insights about the import process, you can check out this link: Common questions about importing data to QuickBooks Online.

 

Once imported, there are references that contains the outlined steps in merging the accounts:

If you need additional assistance in merging the account, you can always reach out to our Customer Care Team. They have an advanced tool that can guide you through the entire procedure. 

 

If there's anything else you need about this concern, feel free to leave a reply below. I want to ensure everything is up and running on your end. Take care!

12 Comments
Moderator

Re: Merge 3 Companies Accounts in Quickbooks Using Classes?

Welcome back to the Community, @phammond9009.

 

Yes, you're right. Using the Class and Location tracking feature for company B and C will help you monitor income and expenses and run reports for them. You can easily turn this feature on in the company settings. Here's how:

 

1. Go to the Gear icon at the top and pick Accounts and Settings under Your Company column.
2. Select Advanced on the left pane, click the Edit (pencil) icon in the Categories section.
3. Choose the category you want to enable and select the settings, then Save.

10.PNG

 

To create a class or location categories, here's how:

 

1. Go back to the Gear icon and pick All Lists under Lists column.
2. Select Classes or Locations, then click New.
3. Enter the necessary information, then hit Save.

 

On the other hand, you can manually export the list of expense/accounts from company B and C to Excel, then import it to A. Consider checking out this article for the detailed steps on how to do it: Move your lists to QuickBooks Online.

 

That should do it. Please let me know how everything goes in the comment section below. I'll be happy to answer if you have any follow-up questions. Have a good one.

Super Explorer ***

Re: Merge 3 Companies Accounts in Quickbooks Using Classes?

Hello @phammond9009 ,

 

  You can use the third part apps for exporting and importing data from one QuickBooks  company to another. One of the options I know is Business Importer, it can both export and import transactions (invoices, bills, checks etc) and lists (like chart of account, customers etc).


 Also you will be able to update the existing records with the app or revert imports, just in case you import something not in a correct way.

 

Hope that helps.

Frequent Explorer *

Re: Merge 3 Companies Accounts in Quickbooks Using Classes?

So this took a while, but I tried this and ran into a new issue:

 

We want to be able to bring all of the historical data along as well; bank transactions, expenses, etc. The meat of the chart of accounts, not just the names.

 

Is there a way to do that?

Moderator

Re: Merge 3 Companies Accounts in Quickbooks Using Classes?

Thanks for keeping me updated about this, @phammond9009.

 

Allow me to provide clarifications regarding merging accounts in QuickBooks Online.

 

You'll need to have all the transactions of Company B and C to be imported into Company A so you'll be able to merge the chart of accounts. In making the import procedure possible, you'll need to look for a third-party application that integrates QuickBooks with importing transactions. 

 

To give you more insights about the import process, you can check out this link: Common questions about importing data to QuickBooks Online.

 

Once imported, there are references that contains the outlined steps in merging the accounts:

If you need additional assistance in merging the account, you can always reach out to our Customer Care Team. They have an advanced tool that can guide you through the entire procedure. 

 

If there's anything else you need about this concern, feel free to leave a reply below. I want to ensure everything is up and running on your end. Take care!

Experienced Member

Re: Merge 3 Companies Accounts in Quickbooks Using Classes?

I read the solution provided by BettyJaneB and have an additional question.  When exporting from companies B&C to A, does all of the data still remain in B&C?  I ask because in case for some reason this does not work for my client, I want to be sure that nothing is lost in the process.  Is there a backup procedure that should be done before export/import merge?  Is a link available to instructions on backing up the databases?

 

Thanks,  Steve

QuickBooks Team

Re: Merge 3 Companies Accounts in Quickbooks Using Classes?

Hello Scando322,

 

I'm glad you've joined this thread here in the Community. Allow me to assist you with exporting data in QuickBooks Online.

 

When exporting data from a company, it only provides a copy of the data to Excel. Please also know that it doesn't remove any information you may have from your account upon performing the process.

 

Right now, it's one of the alternative option you have to acquire a copy of the information. Aside from exporting, you can also search for third-party apps available for a backup functionality.

 

Here's how:

 

  1. Log into your QuickBooks account.
  2. On the left panel, click Apps.
  3. Go to the Find Apps tab.
  4. Use the search field.

Please check this sample screenshot:

 

 

I'm taking note of your concern regarding your backup options to determine what's beneficial to you and your firm.

 

I recommend the following link as it's a hub of articles to assist a user with the exporting process:

 

Feel free to reach out to me if you have further questions concerning the exporting of data. Have a wonderful rest of your day.

Experienced Member

Re: Merge 3 Companies Accounts in Quickbooks Using Classes?

Thank you for your additional advice and guidance 

Experienced Member

Re: Merge 3 Companies Accounts in Quickbooks Using Classes?

Additional questions for clarification.  The goal is to have only 1 company in which we can process all transactions (and provide P&L and Balance Sheet reporting) for companies A, B and C - separately and combined.  The thought is to have 3 Classes - one for each company.  If classes for this were not used historically, can these be assigned to the historical data prior to doing the export (for companies B and C) - ideally using some utility app that would populate the Class?  Additionally, could this utility app also be used to populate Class for company A prior to the import of B and C?  Hoping not to have to do so manually as this would be next to impossible - time wise.  Thanks again!

Moderator

Re: Merge 3 Companies Accounts in Quickbooks Using Classes?

Thanks for getting back to us, @Scando322.

 

Right now, QuickBooks Online (QBO) doesn't have the option to assign classes to historical data prior to importing them. This can only be done manually after the import.

 

In the meantime, you may try checking out a third-party app that integrates QuickBooks with importing transactions on our App Center. Here's how:

 

1. Go to the Apps menu on the left pane, then Find Apps tab.
2. Scroll down or use the search field to look for a third-party app.

164.PNG
3. Or visit our QuickBooks App Store website.

 

For additional resources, consider checking out these articles:

 

 

Please keep me posted if you have any follow-up questions, and I'll get back to you right away. Have a good one.

Experienced Member

Re: Merge 3 Companies Accounts in Quickbooks Using Classes?

Thanks FritzF.  I'm not sure if this helps, but the client uses 2019 Quickbooks Pro Plus - which is hosted by a third party.  Does this version allow for populating of historical information?  This version wasn't an option when I posted, to I chose QBO.  Sorry for not mentioning this earlier.  Best,  Steve

QuickBooks Team

Re: Merge 3 Companies Accounts in Quickbooks Using Classes?

Hello there, Steve.

 

As of this time, both QuickBooks Online and QuickBooks Desktop don't have the option to assign classes to historical data prior to importing them.

 

As a workaround, you can look for a third-party application as mentioned by my colleague above. Here's how to look for a third-party application in QuickBooks Desktop:

 

  1. Go to the Help menu.
  2. Select App Center:Find More Business Solutions.
  3. Search for an application that integrates with QuickBooks.

Also, I want to let you know that your voice matters and I'm submitting feedback on your behalf. For now, you can visit our blog site so you'll be able to get the latest news about QuickBooks and what our Product Care Team is working on. 

 

You can always get back into this post if you have more questions. I'll keep an eye out on your response.

Experienced Member

Re: Merge 3 Companies Accounts in Quickbooks Using Classes?

Thank you Mark_R and the entire team.  I think I now have the input needed to begin the project.  I very much appreciate your advice and will follow your guidance.

 

A very happy 4th of July to all.

 

Best regards,  Steve