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R
rlb95
November 25, 2024
Question

Can Quickbooks online have two companies with the same FEIN?

  • November 25, 2024
  • 1 reply
  • 0 views

The company has multiple operations and would like to separate one of the functions to interface with another software.  The company outsources its payroll and does not use QBO so there are no issue with reporting.  The "main" company would just enter a journal entry to combine the activity from the other separate activity for tax purposes.

 

1 reply

L
LouiseG12
November 26, 2024

Having the same FEIN for the two companies in QuickBooks Online (QBO) isn't possible, rlb95. The system will notify you that your tax ID is already associated with another active account due to concerns related to tax payments and filings.

 

You'll want to consider using the Class or Location Tracking feature, which enables you to segregate your transactions or activities.

 

Here's how:

 

  1. Go to the Gear icon and select Account and settings.
  2. Proceed to the Advanced tab and look for Categories.
  3. Click the pencil icon in the right-hand corner.
  4. Tick the button to enable the classes and locations.
  5. Hit Save, then choose Done.

 

For a comprehensive information, you can check these articles:

 

Additionally, let me provide you with a few more resources for further reference and guidance on using this feature:

 

 

If you have any other concerns or follow-up questions, do not hesitate to add your comment below and I'll lend a hand again. Have a good one!

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