Multiple businesses under one bank account

Let me share clarification about having multiple businesses under one bank account, @Laura Pickles. 

In general, having two businesses under one bank account isn't recommended. Using different financial institutions helps you monitor the financial well-being of your business.   

Regarding your concern about what to do with your transactions for one bank account, yes, we can exclude those. If it's created by or for that specific company, we account it for that company. By excluding the transactions, QuickBooks will no longer download those, making the categorizations easier. We can use your bank statement as a reference in completing this action.  

However, processing this will affect your books and the reconciliation. It can generate confusion on your part when checking your financial reports. Hence, I recommend consulting a financial professional to provide additional assistance when processing this. 

Also, we can create another company file for the other business. Doing so enables you to track your organization's financial health accurately. 

Moreover, visit this article to learn how to keep your records organized: Exclude a bank transaction you downloaded into QuickBooks Online. 

I'm still all ears if you have more concerns about managing your businesses under one bank account. Keep safe! 

@Laura Pickles 

How do you have the bank account balance split between the two companies?  IMO, there is no way to reconcile this because how could you possibly know what portion of the bank balance belongs to Co. A and to Co. B?  You would have to look at your bank account register balance in QB to determine the ending balance but then you would be reconciling QB against itself.  The only right way to do this is to have separate bank accounts for each business.  Is there a reason you don't want to do that?