2 Companies 1 EIN

Yes,  you can create multiple company files in QuickBooks under a single account, Dso0216. However, when it comes to using the same Employer Identification Number (EIN) for two different companies, there are some factors to consider.

If the companies are legally separate entities, each should have its own Employer Identification Number (EIN) to avoid complications with tax reporting, state compliance, and other legal issues.

However, if both companies are operating under different Doing Business As (DBA) names but are legally the same entity, they can technically operate under the same EIN. Still, it's best to consult an accountant or a lawyer for advice tailored to your specific situation and for proper guidance.

To track different parts of your business, I suggest using the class tracking or locations feature. This will help you create accurate financial reports while keeping an eye on various areas of your operations.

You can also run reports by class to analyze the performance of different business segments, helping you identify trends, track expenses, and make informed decisions.

 
Also, you might want to consider our QuickBooks Live Expert Assisted service to help you manage transactions and ensure your account information remains accurate. Our team of experts is ready to assist you with matching and categorizing your transactions as well as reconciling your accounts!

Feel free to click the Reply button if you have any further questions or concerns. We're here to help!

You do understand I'm referring to QBO not QBDT correct?

I am the accountant.  The companies were set-up this way many years ago.  There are 2 separate stores.  They could have used the location tracking but there are additional complications.  I came in the picture long after set-up.  In hindsight their attorney has told them it would have been best to have 2 separate EIN's, although, ADP runs 2 separate payrolls and is able to file separate reports for all but the PA Unemployment (another situation entirely) there are also separate bank accounts and credit card accounts.  The attorney has told me to accomplish the entity separation with a different EIN now would create complications, such as re-negotiating leases, etc.