I took over for our book keeper 2 months ago. I've just been working in QB Desktop Pro 2016 until I got QB Desktop Pro 2019 ( just bought yesterday). Now, I am wanting to see if I can fix her error. I work for a church/school. We have 4 bank accounts: church, school, payroll, and savings. She created these bank accounts as company files. It is so annoying to have to constantly switch between registers and she has them all password protected. Another annoying thing is when I transfer money between accounts, I have to constantly switch companies to record the deposit or the expense in each company files separate. I am new to QB in any account, but I am learning quickly. Is there a way to combine all 4 "companies" onto one company but listed as 4 bank accounts. Or, if not, is there a way to do all this work between accounts in one account and have it record in the other company file? Thanks.
Likely the best fix going forward is to merge these four files into one.
I'd start with the largest file and export the bank data from the other three to import into it.
QB doesn't have a feature to do this. Instead, use our BRC Transaction Copier to pull transactions from your individual files for import into the 4th file.
Once complete, then you can use the four accounts within one file.
BEFORE, you start combining, check the past income tax returns, even charitable organizations have to file an info return. If they are filing 4 returns, then it is 4 companies and you can not merge them. Each company stands alone.
You can't merge Company Files. But as mentioned above you can use the BCR program to pull info out of each of the original files into either one of the other original files or into a completely new one.
And if you make copies of your original QB2016 Company files you will always have that data. Just be sure to copy the Company files off to a different drive or a different location on your C: drive.
You also do not need to uninstall QB2016 until you are up and running with 2019. Just be sure when you start the installation you do not select the express option and over write QB2016. You want to install QB2019 in it's own folder (eg: C:\Program Files (x86)\Intuit\QuickBooks 2019). This way you can go back and open any of the original files you want. (You can also open the originals after you upgrade, but QB2019 will upgrade those files. So if you want a true backup, don't upgrade the copies until you're sure you have everything.)
And if any of original Company files have a huge amount of the transactions. You might consider renaming a copy of that file to a new name and let QB2019 upgrade that file as your NEW Company file. Then you only have to import the smaller amounts of data from the other original Company files.
Good day, @Chadster.
Yes, you can definitely try your banking and company preference. Setting up and adding bank accounts in Quickbooks is as easy as 1,2,3. You can add bank accounts in QuickBooks without having to go through bank feeds. You can directly add them in your Chart of Accounts.
You can get more details in these recommended articles:
If you have other questions about connecting your bank accounts, feel free to leave a post below. I’m a few clicks away.
I only see two issues with your idea. Both of which should be easily resolved with answers from your Tax Accountant.
First is with the Deposits into the new Company file you're creating. When you create the four new Bank Accts and give them their opening balance, you need to make sure that it is not shown as Income. You need to correctly show the money is really yours, and that the QB Bank Acct is new on the off chance you're audited.
Same is true of the expenses. If you can pay all your bills and have all the checks clear by 12/31/19, not an issue. But if you have expenses going between the two Company Accts, you just need to make sure they're entered correctly to show the expenses in the right Company file. Again not a big deal, just need to have your Tax Accountant make sure the right entries are in the right place.