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arkvalleyinfo
October 16, 2018
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Can I have 2 businesses under 1 account?

  • October 16, 2018
  • 4 replies
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I have 1 retail business and 1 network marketing. How can I itemize my expenses with for the 2?

Best answer by john-pero

You can 2 or more individual subscription companies all under same account. Also if you (use a second email) invite yourself as accountant user you can load the free QBOA accountant version and manage both companies from a single login. You can even give yourself a bigger discount through wholesale pricing

4 replies

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Malcolm Ziman
October 16, 2018
If the businesses are DBAs or sole prop. LLCs without payroll,  then you can use Class or Location, within the same QBO Plus subscription. The latter lets you invoice under different names.
    john-pero
    john-peroAnswer
    October 16, 2018

    You can 2 or more individual subscription companies all under same account. Also if you (use a second email) invite yourself as accountant user you can load the free QBOA accountant version and manage both companies from a single login. You can even give yourself a bigger discount through wholesale pricing

      Rustler
      Rustler
      October 16, 2018

      As John says, one business = one subscription to QBO

      IRS Pub 583, Page 5 - must keep separate books per company

      and for sole proprietors
      IRS Pub 334, page 40 - "If you have more than one business, you must figure your net profit or loss for each business on a separate Schedule C."
      IRS Pub 334, page 45 - separate schedule C for each business


        K
        kelleyskorner1
        January 26, 2019

        So does QB Pro 2017 keep reports of the 2 Schedule C's? I have QB 2017 pro that I use with POS V18 for my shop. I want to use QB Pro 2017 alone for my on line business I want to start. Can I do this?

          A
          AldrinS
          January 26, 2019

          Hi there, kelleyskorner.

           

          Thanks for joining the thread. I'm here to provide some clarification regarding your question.

           

          Yes, you can, just make sure to create a new company file for your online business. The steps below will guide you on how to create it:

          How to create a new company file in QuickBooks

          1. Open QuickBooks Desktop. Since you already have a company file, I'd suggest you press and hold the Ctrl key, and don't release it until you have the No Company Open window.
          2. On the No Company Open window, select Create a new company.
          3. Choose between Express Start or Detailed Start.
          4. Complete the following on-screen instructions.

          All of this information and more is available in our guide on how to create QuickBooks Desktop company file.

           

          That should get you going on the right track. Please don't hesitate to reach if you have any other questions. Have a great day!

            J
            jmartin5261
            November 26, 2021

            I'm only seeing responses for qbo.  How do I manage a dba company through a llc with desktop?  Everything says to go to the gear, which I do not have.

            M
            Mark_R
            November 26, 2021

            I've got your back, @jmartin5261.

             

            You can utilize the class tracking feature in QuickBooks Desktop to manage your business. Here's how:

             

            1. Open your QuickBooks company file.
            2. Go to the Edit menu, then select Preferences.
            3. Click Accounting from the left menu, then go to the Company Preferences tab.
            4. Select the Use class tracking for transactions checkbox. If you want a reminder when you haven't assigned a class, select the Prompt to assign classes checkbox.
            5. Click OK.

             

            I'm adding this article for more guidance: Set up and use class tracking in QuickBooks Desktop.

             

            Just in case you'll want to run a report by class, you can read through this article for the detailed steps and information: Filter, sort, or total reports by Class.

             

            Keep in touch if you need any more assistance managing a DBA company, or there's something else I can do for you. I'm always around if you need any help.

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