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September 11, 2024
Question

I changed banks and also changed my business from a Sole Proprietor to an LLC. How can I get all of that changed and also pay for my QB online with the new bank?

  • September 11, 2024
  • 1 reply
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1 reply

JoesemM
September 11, 2024

It's great to have you join us in the Community space, carpandtreeri. I'm happy to help you update the changes you made in your company and add them to QuickBooks.

 

You can go to Accounts and Settings to update your company type from Sole proprietor to LLC in QuickBooks Online (QBO). Let me guide you on how:

 

  1. Go to the Gear icon in QuickBooks Online.
  2. Select Account and Settings.
  3. Under the Company Type tab, press the Pencil icon.
  4. Update your company information under the Tax Form. Change it from a sole proprietor to a Limited Liability Company.
  5. Click the Save button then, Done.

 

For the new bank account, you can make the changes in the Subscription and Billing menu. It ensures that QuickBooks charges the new bank you've set up. To complete this process, please follow the steps outlined below:

 

  1. Sign in to QuickBooks Online.
  2. Select Settings ⚙, then select Subscriptions and Billing.
  3. Go to Payment method and choose Edit ✎. Here, you can:
    • Change how you pay for QuickBooks Online. Update your credit card expiration, billing address, or account name.
    • Add a new payment method for QuickBooks Online billing.
    • Switch QuickBooks Online billing to a payment method used before.
  4. After you save your changes, you can view the payment method on the Subscriptions and billing page.

 

For more details about updating your company information and changing payment method in QuickBooks, see these links:

 

 

Also, I'll be providing some helpful blogs that offer guidance on how to effectively manage an LLC company and discuss the pros and cons of this business structure:

 

 

I'm always around if you have further questions about switching company types or concerns with QuickBooks. I'm here to help. Stay safe.