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One QBO account is for one company file. You can use the Class or Location tracking feature as a workaround. I would recommend using QB Desktop Pro Plus or Premier Plus to manage multi company files.
Good luck, I'm bogged down in error messages trying to accomplish this... if you get it to work I'd love to know how... I've been told by several QB team members that engineers are working on this.
One LLC with DBA(s) is not a multi-company... it is 1 entity with 2 "nicknames"... in my state anyway
You've come to the right place,
steventopieniak, and someonesinthekit. Allow me to provide a little more information about setting up two DBAs in QuickBooks.
In QuickBooks Online, if you want to create two DBAs (Doing Business As) under one LLC, you can do so by setting up multiple companies. QuickBooks allows you to create several companies under the same account. However, each company file requires an additional subscription, but you can access them with the same sign-in information.
If you wish, to avoid paying extra charges for adding a subscription, you can use class or location tracking to differentiate transactions for each DBA. QuickBooks offers a class or location tracking feature that enables you to classify or separate transactions for each DBA under a single account.
Furthermore, you have the option to click on the following link and gain knowledge on how to run a business and what is DBA.
For future reference, I'm adding these article so that you can learn how to run reports in QuickBooks: Run reports by class in QuickBooks Online.
Don't hesitate to contact me if there's anything else I can help you with QuickBooks. Just tag my name, and I'll get back to provide the information you need. Take good care!
I'm not trying to be frugal here, but this approach seems questionable from different angles, and I guess it's hard for me to believe that this is truly the only solution. For one thing, multiple DBAs are not necessarily the same thing as multiple entities. Certainly in some cases, to have multiple DBAs under a single LLCompany is only another way of saying that 1 company (with 1 EIN) has more than one "nickname". (In my state, the DBA is simply a registered trade name; it is most certainly not a separate entity.)
With respect to LLCs, I realize a parent LLC can own other LLCs, in which case the solution you propose would be the natural and proper one. But to create separate QB file(s), in which one or more DBA(s) has the identical EIN is not only counterintuitive, but also seems like a recipe for major glitches and confusion. Ultimately, tax-wise, the distinction of different DBAs (at least in my situation) is irrelevant because they fall under 1 company with 1 EIN. The DBA distinction is, in some respects, hardly more than an internal distinction that QBO should be able to handle.
In this regard I do appreciate, JamesAI, your pointing out the class and location approach. Admittedly I am a QB novice, and am frustrated with the unknown timetable for when such a seeming simple matter of distinguishing between business name(s) and legal company name (under account and settings, as well as invoices) will be resolved. However, I suspect that until engineers resolve this issue (that several of your team members have admitted), I'm going to need to adapt to the tracking approach. While I'd prefer to not to do that, thus far, it's the only halfway decent workaround that I've heard thus far from your team members.
I hope steventopieniak that you find the right fix to your situation, which of course may well be different than mine.
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