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Mike_in_Brazil
October 22, 2022
Question

QB Online + New LLC + BB Americas Bank

  • October 22, 2022
  • 2 replies
  • 0 views

We run a business in Brazil and looking at setting up a new LLC, with business bank accounts at "BB Americas" (Banco do Brazil Americas).

Our idea is to streamline all our bookkeeping + payments + banking through Quickbooks USA version.

I have been looking for a list of US banks that Quickbooks USA supports, but I can't locate a list specific for USA.

My questions are:
1.  Does Quickbooks Online sync with BB Americas, for bookkeeping?
2.  Does Quickbooks Payments sync with BB Americas, for online payment of invoices created by Quickbooks?
3.  Are there any known issues between Quickbooks and BB Americas that I need to be aware of?

I am happy to form the LLC, setup the business bank accounts, pay for a Quickbooks USA subscription, and have Quickbooks Payments process our invoices, but I simply want to know if the whole setup is seemless and it just works....

Sidenote:  we are a Brazilian/German and an Australian, both resident in Brazil.  Therefore, we do not have US social security numebers.


2 replies

Adrian_A
Adrian_A
October 22, 2022

Hi there, Mike_in_Brazil.

 

I'm here to ensure you can track your sales and other bank-related transactions in QuickBooks Online.

 

One of the details needed when setting up a QuickBooks Online (QBO) account is an SS number. You'll form an LLC and process bank-related transactions in the QuickBooks Online Brasil version since that's where your company is located.

 

If you decide to run a business in the USA, you'll have the option to sync QBO with BB Americas bank.

 

For more resources in managing your QuickBooks account, you can check these references: 

 

 

You can always mention my name whenever you need help setting up your QuickBooks account.

M
Mike_in_BrazilAuthor
October 22, 2022

Hi Adrian_A, thanks for replying.

 

I am confused - if we setup an LLC in say Florida, wouldn't Quickbooks (USA subscription) be linked to the LLC, not myself as an individual?

 

Does Quickbooks Online (USA version) *ONLY* work with a social security number?

 

 

Fiat Lux - ASIA
Fiat Lux - ASIA
October 23, 2022
@Mike_in_Brazil wrote:

Sidenote:  we are a Brazilian/German and an Australian, both resident in Brazil.  Therefore, we do not have US social security numebers.

@Mike_in_Brazil 

If you don't have SSN, they will decline your QB Payments application. If you run a B2B company and have an ITIN, you can use a third-party processor to receive payments for free and integrate it with QB Online. Last resort, utilize a free invoicing app to accept payments by Paypal/Stripe and mirror the data to your QBO account as the workaround.

M
Mike_in_BrazilAuthor
October 23, 2022

Fiat Lux:

Thanks for explaining the reasoon for the SSN with QB Payments.
That kinda makes more sense now.  I really appreciate the explanation.

 

We are *drowning* with tracking payments from clients, and don't really have a functioning bookkeeping system, so my idea was to get QBO (USA version) and make it nice and easy for our clients to pay us (into our LLC's business bank account).

When you say "third party processor" do you services like Stripe and Square?  (We won't touch PayPal anymore - far too difficult to use).

 

So, my understanding of a possible solution would be:

1.  Incorporate an LLC in USA

2.  Subscribe to Quickbooks Online USA

3.  Subscribe to Stripe or Square

4.  Have QBO and Stripe/Square integrate together?

If I did the above, here is a question:  
When I generate an invoice in QBO, would our client automatically receive the invoice in their email with the Stripe/Square payment link?

 

 

Fiat Lux - ASIA
Fiat Lux - ASIA
October 23, 2022

What kind of business do you run? As I mentioned earlier, if you don't have ITIN or your company is B2C, I couldn't recommend that 3rd party processor. I would recommend to use a free invoicing app to accept Stripe and Mercado Pago, then mirror the data to your QBO account. 

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