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TCMGF
Level 1

One company two different locations with two checking accounts, will this work?

We own two tire stores with one federal id number, can we use one quickbooks company with two locations and enter bills for each location, payroll for each location, and do P&L's for both locations with one main company?

Solved
Best answer March 09, 2018

Best Answers
Rustler
Level 15

One company two different locations with two checking accounts, will this work?

QBO?  Only if you have the plus version and turn on classes & locations in company settings.

 

class allows you to tag each item line in a transaction
location allows you to tag the entire transaction

Then you can run P&L by class or by location

In QBO there is no balance sheet by class or location

 

 

QB desktop only has classes which you can use the same way as both class and location in QBO.  QBDT does have a balance sheet by class report as well as the P&L by class.

 

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17 Comments 17
Rustler
Level 15

One company two different locations with two checking accounts, will this work?

QBO?  Only if you have the plus version and turn on classes & locations in company settings.

 

class allows you to tag each item line in a transaction
location allows you to tag the entire transaction

Then you can run P&L by class or by location

In QBO there is no balance sheet by class or location

 

 

QB desktop only has classes which you can use the same way as both class and location in QBO.  QBDT does have a balance sheet by class report as well as the P&L by class.

 

0541617995
Level 1

One company two different locations with two checking accounts, will this work?

Hi Sir,

im looking for the steps to setup my company account Two location

JaneD
Moderator

One company two different locations with two checking accounts, will this work?

Good day, 0541617995.

 

Thanks for joining us in this thread. I'm here to address your concern with setting up a company. 

 

If your company has different Federal Employer Identification Number (EIN) for two locations, you'll need to set up another QuickBooks company file.

 

For QuickBooks Desktop, please follow these steps:

  1. Open QuickBooks Desktop.
  2. Click on Create a new company in the No Company Open window.
  3. Choose Express Start or Detailed Start.

    Express Start

    a. Fill out all the information in QuickBooks Setup window. Note: Click on the Help me choose link to see a description for every business type and the preset Chart of Accounts that QuickBooks will create for you per industry.
    b. Click on Create Company.
    c. After creating your company file, select on Start Working.

    Detailed Start

    a. Fill out the Easy Step Interview screen and select Next.
    b. Select your Industry and click on Next.
    c. Identify your type of business entity and then select Next. Then, set the first month of your fiscal year, then select Next.
    d. Set up your QuickBooks Administrator password and click on Next.
    e. Choose the location where you you want to save your company file and select Save.
    f. Click on Next to customize your QuickBooks or you can do it later by selecting Leave.

For further guidance, you can check out this article: Create a Company File: Overview.

 

Otherwise, turn on the class or location tracking in QuickBooks if your company have one Federal EIN. You can refer to this link for more in-depth information: Use Class Tracking.

 

If you're using the Online (QBO) version, you can follow the detailed steps outlined in these articles:

That should do it. Let me know if you have any other concerns. I'm always happy to help.

lwtompkins
Level 1

One company two different locations with two checking accounts, will this work?

I have one company with 4 locations and I have classes setup for those locations but having a problem figuring out the shared costs. The question is that all production, manufacturing, and installers are located at the home office technically, so how do I share the payroll and other costs and expenses throughout the other locations. For instance, besides payroll, there are shop and fuel expenses that should be allocated to another location if the sale was by the other location, right? So can that be done without hours of work on my part? Some days the guys have installations for sales made by 2 or 3 different locations, it depends on the customers location.. (we fabricate granite countertops - so intallation is the completed sale). 

MaryLurleenM
Moderator

One company two different locations with two checking accounts, will this work?

Hello there, lwtompkins,

 

You can only create transaction per location. We're unable to split one transaction for multiple locations. You can manually separate the expense transactions for each location instead. Calculate the amounts per location and create a transaction for each.

 

Check out these articles for reference:

Let me know if you have additional questions.

party drinks Ltd
Level 1

One company two different locations with two checking accounts, will this work?



Please, our business is such that we operate multiple stores located in different locations.

So, does quickbooks online as the facility to help allow us post transactions by outlet and generate reports(PorL and other reports by outlet). And as well have a consolidate report(PorL and other reports of all the stores)

JessT
Moderator

One company two different locations with two checking accounts, will this work?

Hi party drinks Ltd!

 

If you're using the QBO Plus or Advanced version, you can use the Location tracking feature. I'll share information about it.

 

Basically, all stores can access your QBO company and create transactions. What the users will do is just enter transactions and tag their location. That way, you can generate reports like Profit and Loss by Location or Sales by Location. The only key here is to tag all transactions you create.

 

Turn on location tracking:

  1. Go to Settings ⚙, then select Account and Settings.
  2. Select Advanced.
  3. In the Categories section, select the Edit ✎ icon.
  4. Select the checkbox to track locations.
  5. Select Save, then Done.

 

Add the list of locations:

  1. Go to Settings ⚙️, then select All Lists.
  2. Select Locations.
  3. Select New, then add the Name of the location you want to track.
  4. Fill in the information of the location you create.
  5. Select Save.

After the setup, you will see a Location field on your transaction pages where you can select a location name.

 

After creating transactions, you can run reports. Just go to Reports and search for "location" to see all reports about locations.

 

That's it. If you have other questions. Feel free to go back to this thread. Have a good day!

KRM2
Level 1

One company two different locations with two checking accounts, will this work?

How do you add a 2nd store location that has a different bank and is located in a different state but is under one EIN?

KRM2
Level 1

One company two different locations with two checking accounts, will this work?

did you ever get a answer if this can be done with 1 online subscription?

mePig
Level 1

One company two different locations with two checking accounts, will this work?

I'm also wanting to know the answer to that question.  I have Online Plus

MJoy_D
Moderator

One company two different locations with two checking accounts, will this work?

Thank you for joining the thread, @mePig

 

Can you tell me more about the question that you're referring to? That will surely help us provide an accurate solution to the concern that you're having.

 

You can click the Reply button below to add more details.

 

I'm looking forward to hearing from you soon! Take care and have a wonderful day!

dhencath
Level 1

One company two different locations with two checking accounts, will this work?

Hi, I'm from Philippines, I just want to ask since we are now using QuickBook. My question is, We have one company but different location and different TIN nos. Which is the main is 000 and the branch is 001. Now, can we used the quickbook both at same time and make the entries? I hope you can help me. Another problem is, we have separate bank account in our transactions a but in some cases, they used our account for the payroll transactions since we have one payroll account. Is it possible is it ok?

Thank you for help in advance.

Fiat Lux - ASIA
Level 15

One company two different locations with two checking accounts, will this work?

@dhencath 

For your situation, utilize the tracking class feature is not enough. You should have one QBO account to manage one company file separately.

https:// quickbooks.grsm.io/Philippines

 

Another option, consider using QB Desktop for each location to manage multi company files.

DivinaMercy_N
Moderator

One company two different locations with two checking accounts, will this work?

I'm happy to see you here, @dhencath. Thanks for choosing QuickBooks Online (QBO) as your accounting partner. I'm here to help you set up your company seamlessly.

 

Let me go over and discuss the details in performing this task.

 

In QBO, you'll have to set up a different company for the different Taxpayer ID Number (TIN) and locations just like what Fiat suggested above. Here's how:

 

  1. Head to this page to choose your country version: Choose your country.
  2. Once opened, select the Asia Pacific tab.
  3. Next, click Philippines to begin the sign-up process. 

 

In creating 2 separate account, you can use the same email and user ID to easily switch between them. Using them at the same time to make the entries is possible if you open them using a different browser or device.

 

For your other concern, the ability to use the same bank account to manage transactions and payroll is possible in QBO. For guidance in setting it up, feel free to check the following article:

 

 

I'd love to know updates on how this goes. If you have additional questions about managing your company file, please don't hesitate to post again here. I'm always around to lend a hand. Have a great week ahead and take care. 

Mark chiacchio
Level 1

One company two different locations with two checking accounts, will this work?

About to buy QB- I have 3 stores all diff eins- can I set up each separate or do I have to order multiple QB’s?

 

suggestion on which version for small business?

 

ty

 

MirriamM
Moderator

One company two different locations with two checking accounts, will this work?

Good to see you on the thread, @Mark chiacchio. 

 

I'd be happy to share some insights about our QuickBooks products.

 

If you use QuickBooks Online (QBO), you'll need to sign-up three accounts for each stores since one company file is equivalent to one subscription especially if each business has separate Tax reporting. This way, you can generate a different expense and other financial report for it.

 

In your case, since you have different EINs for each store, you may consider using QuickBooks Desktop version. This allows you to create multiple company file with different EIN under one subscription.

 

To help you decide which products best suite your needs, I recommend checking these links:

 

 

If you have other questions or concerns, visit again. We're always glad to help in any way. Have a great rest of the day.

Fiat Lux - ASIA
Level 15

One company two different locations with two checking accounts, will this work?

@Mark chiacchio  

Your options are

1. 3 QBO Plus accounts

https:// quickbooks.grsm.io/US

https:// quickbooks.grsm.io/us-promo

 

2. QB Desktop Pro for 3 users. 1 user license for one store. You can still purchase the one time license for QB Desktop 2021 if required.

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