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J
jen3456
September 11, 2023
Question

Starting new company file from scratch

  • September 11, 2023
  • 1 reply
  • 0 views

I have a client with a QBO file that is such a mess that we need to start fresh with a new file.

I understand that you can have multiple companies under the same QuickBooks Online account. Each company file is its own paid subscription, but you access them with the same sign-in info. This lets you quickly switch between companies so you can manage everything more efficiently.

 

Here is my question:

Can I create a new company file with the exact same name as the old company file?

After this new company file is created, we want to cancel the old file so not need to pay for 2 subscriptions.

 

OR , should I cancel the OLD company file subscription first, then create a new one with the exact same name?

 

Please advise. Thank you

1 reply

J
JamesM4
September 11, 2023

Hello jen3456,

 

Welcome to the Community. QuickBooks Online gives you the flexibility you need to easily manage multiple accounts. I'll be happy to provide the info you need so you're on the right track with your work. 

 

To get started, it's important to note that QuickBooks only allows one company for each subscription. You can seamlessly switch between companies as long as you're using the same email address as the rest of the QBO accounts. Also, to answer your first question, you can set up an account using the same email in order to take advantage of the Switch Company function. Here's how to switch companies:

  1. Select Settings ⚙️.
  2. Under Profile/Your Company, select Switch Company.
  3. From the list, select the company you want to switch to.

Canceling an account will only affect that specific account as each of the companies have their own billing. For reference, here's an article that shows you how to Cancel your QuickBooks Online subscription. Let me know if you need anything else. I'll be one message away. 

J
jen3456Author
September 11, 2023

Hi James and thanks for the reply...

Still had some questions:

1. After the old company subscription is cancelled, can I start a new company with the EXACT SAME NAME?

 

2. If my client transfers Primary Admin over to me (bookkeeper), can I cancel the old company subscription myself and start a brand new company (same name as old company) myself? Can I perform these tasks using my log in in QBOA? I want to perform this work for my client.

 

Thank you...

    J
    JamesM4
    September 11, 2023

    No worries. You can start a new company using the same name and every other detail. A primary admin user on the account has the ability to cancel the old company subscription and start a brand new company with the same name as the old one. You can perform these tasks only as the primary admin user on the account. Feel free to check out this article here to learn more about canceling an account. Feel free to ask other questions. 

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