Going to become a limited liability company, currently use quickbooks as a sole trader, how do I start a new account and keep access to my old data without paying for 2?

Thanks for reaching out, @steve251.

You can only set up one company per subscription in QuickBooks Online (QBO). You'll have to sign-up for a new QBO account to create another one. You can use the same login so you can switch between them.

Here's how to add a second account:

1. Go to the Plans and Pricing page.
2. Choose the version of QuickBooks that fits your business.
3. Select Buy Now or Sign Up for a free 30-day trial.
4. Type in the country, click Choose.
5. On the signup page, type in the same email address.
6. If it prompts you that this email address is already taken, select Sign in.
7. Enter your existing Intuit email address and password.

Then, follow these steps to switch between companies: 

1. Click the Gear icon on the upper right corner.
2. Choose Switch Company.
3. Select the other company.

If you choose to cancel the other account, QBO will hold on to your data for up to one year. I'd suggest saving all your data by exporting the information. This way, it can be saved, stored, and transferred digitally if needed. You can also pick up where you left off if you decide to come back. To resubscribe, feel free to check this article: How to reactivate QuickBooks Online.

Stay in touch with us if you have any other questions or concerns with managing multiple companies. The Community is just a post away.