Can I set up a second company for invoicing purposes.

You definitely can set up a second company, @payroll14.

One company file is equivalent to one subscription. You'll need to sign-up for a new QuickBooks Online account to set up a second company. 

To put this company under your existing Intuit ID, log into your current company when creating a new account. Simply click on the Add another company button when creating another account. From there, you'll only be asked for an Email address and Password (you should be using the same email address).

Here's more information on how to add multiple companies to your QuickBooks Online account: Create or add another company. 

Once done, you can switch from one company to another quickly. See this how do I switch companies article for more information.

From here, you can now create an invoice for this second company: How to create an Invoice in QuickBooks.

Let me know if there's anything that I can help you with. I'm always glad to help in any way I can. Have a great rest of the day.

@payroll14 

If you have to open a new QBO account, 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.

https:// quickbooks.grsm.io/US

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Once you have set up a Second Company, can you import some of your customers to the new company?  

We are wanting two companies and separate our 2 customer types into different companies.  Is this possible?

Yes, you can export and import lists from one company to another, stareng1.

You'll just have to export customer lists from the first company and import it to the second one. Here's how to export: 

1. Log in and open your first QuickBooks Online company.
2. Go to the Gear icon and select Export data.
3. Select the Lists tab.
4. Turn on Customers and click Export to Excel.

An Excel file will download which you can modify which customer to import on the second company. Then, you follow these easy steps on how to import the list. 

1. Switch to the second company. 
2. From the Gear icon, click Import data.
3. Select Customers.
4. Click Browse under Select a CSV or Excel file to upload.
5. Open the Excel file you just exported.
6. Click Next and map the fields. Then, Next. 
7. Review the list and then click Import.

For more details in moving your lists aside from your list of customers, you can use the Move your lists to QuickBooks Online page.

Let me know if you have other questions. I'll be around the corner to help. Take care!

@stareng1 

As another option, you may utilize a migration tool. You will need it to migrate some transactions type (e.g sales receipts, bill payments, journal entries)

https:// transactionpro.grsm.io/qbo