Does anyone have one QB company account for personal and business because they are a sole proprietor?

@walshpr1 

If you only have one business, explore QBSE to combine with your personal finance. But keep in mind, QBSE is a stand alone product and no migration path yet. 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.

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@walshpr1 

No you do not combine personal and business accounting.  If your sole proprietor business is doing well you need to register it as an LLC.  An LLC is a legal protection that separates your business from your personal, and in the event of a law suit against your business, the court can not touch your personal assets in a judgement.

Mixing personal and business will void that registration in a court of law.

Personal bookkeeping is best done in Quicken or Mint

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

We have this same issue...2 clients in QBOA, 1 client is for the Individual (1040) return and the other client is the business portion (sch C).  We dislike having to set up 2 clients.  Is there a way to only set up one client that includes the Individual and Sch C?  The main problem, other than the messiness, you are not able to Map the accounts to the Individual (1040) return.  Please help!!!

Thanks for joining us here today, @ah729bookkeeper.

I have some information about adding clients into your account with different entities. While creating one client that includes two different entities isn't possible, you'll have to add them individually. This way, your reporting, and mapping are correct.

Here's how to add a client:

1. In QuickBooks Online Accountant, go to the Clients menu.
2. Select Add client.
3. Choose Business or Individual. Enter your client's info.
4. In the Products section, click Subscription.
5. Follow the next set of steps based on whether you want to add your client to your wholesale billing plan.

After that, go back to steps 1-5 for your other client. Need for details? Check out this guide: Add clients to QuickBooks Online Accountant.

Once done, you can visit this link for details on how to manage your clients in QBOA. If you need help with other QBOA tasks, check this guide to go to our general topics with articles.

Let me know if you have other questions or concerns. I'm always here to assist you. Take care and have a good one.

Two years later I come with the same question.  It looks like the best answer is purchase one account for LLC and go to different company (Quicken or Mint) for personal tax keeping.  The desktop version allowed for multiple accounts without added separate subscriptions. 

I stumbled on this as I have the same question...Individual with a Schedule C who currently maintains to QBD files but unwilling to pay two subscriptions. I'm going to do it in QBO (plus or advanced) using the class feature, and class business income expenses to SchedC. Let you know how it goes

@NJcpa 

Which QB Desktop year version do you have?

Why don't you stick with QB Desktop to manage multiple files?