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A
AJC1641
August 1, 2022
Question

QBD - Multiple companies in one account

  • August 1, 2022
  • 1 reply
  • 0 views

Hello,

 

We are currently using Quickbooks Desktop for our company. We have recently acquired another company, which I would like to add to our QBD account, but to keep separate books. We also have the payroll option and the ability to pay vendors via ACH.

 

Therefore, my question is will we be able to pay our vendors via ACH for the acquired company as well since it will be a separate company file in QBD.. Basically, I'm trying to verify if all the benefits we have on our main company QBD account transfers to the acquired company that will live separately. 

 

Thanks,

Alex

 

1 reply

G
Giovann_G
August 1, 2022

Thanks for reaching out to us, AJC1641.

 

Yes, That is possible. I'll give you some tips on how to go about doing it.

 

You can have multiple company files for a single QuickBooks license. Depending on your payroll subscription, you'll have the option to add a separate company file to your payroll subscription. I'll show you how.

 

  1. Go to the Employees menu, then select Payroll.
  2. Use My Existing Payroll Service.
  3. If you don't see this option, follow the steps here "Use my existing payroll service option is not available."
  4. Under Identify Subscription, choose Use Subscription Number XXXXXXX [ Payroll Subscription Version ].
  5. If you don't see your subscription in the list, select Other: I have an existing subscription and a Zip Code. And enter your information.
  6. Click Open, then Next.
  7. When the Add Company Information window opens, select Next to add the company EIN.
  8. You may choose to Print or Return to QuickBooks Desktop.
  9. The Validating Payroll Subscription window opens and the service is added automatically.
  10. Click the Service Key.
    • Select Employees, then My Payroll Service, then Manage Service Keys.
    • Select View to display the new service key with an Active Status.

 

For more details, you can read this article: Add an EIN to existing Payroll Subscription.

 

Since you can only attach one payment account to a single company file, you might need to register for a new QuickBooks Payment account in order to pay your vendor via ACH payment. 

 

Once done, you can connect QuickBooks Payment to your company file.

 

Here's how:

 

  1. In QuickBooks Desktop, go to the Customers menu.
  2. Select Link Payment Service to Company File. If you see a message about credit card protection, fill out the fields and select OK.
  3. Enter the user ID and password you used to sign up for QuickBooks Payments. Then select Sign In.
  4. Click Connect. Or if you're transferring your payments account to another company file, choose Transfer and then Yes, transfer.

 

Then, you can follow these steps below to pay your vendor through ACH:

 

  1. Choose Vendors > Pay Bills.
  2. Select the vendor you want to pay.
  3. In the Payment section > Method dropdown list, select Direct Deposit.
  4. In the Payment section > Account dropdown list, select the account for the payment.
  5. In Payment section, doublecheck the date.
  6. QuickBooks Desktop automatically enters a date two banking days in the future in the Payment section > Date field. This is the date that will appear on your printed checks. Remember that Direct Deposit checks must be sent to the Direct Deposit service by 5:00 p.m. (Pacific time) at least two banking days before the check date. You can change the date if necessary, but the date you enter must be at least 2 and no more than 45 days in the future and must be a valid banking day.
  7. Click Pay Selected Bills.
  8. Select Send Direct Deposit.
  9. Hit Send.

 

I've also included this resource for more insights: Connect your QuickBooks Payments account to QuickBooks Desktop.

 

Let me know if you have further questions about ACH payment or Payroll. I'll be around to assist you.

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