Is it possible to create multiple companies on the online version of Quickbooks? Or at least an account to create proforma invoices and another to create VAT invoices?

Hello there, @michael-li-desig.

I'll make sure to get your concern sorted out today.
 

In QuickBooks Online, you can only have one company for one subscription. Under one company you can create proforma invoices and VAT invoices.
 

When you wish to send your customer a price, bid, or proposal for work you plan to do, you can generate an estimate.
 

Here's how to create an estimate:
 

1. Click on + New and select Estimate.
2. Choose a customer from the Customer dropdown.
3. If the work has already started, select a status from the Pending dropdown.
4. Set the Estimate Date and the Expiration Date.
5. Enter the products and services you plan to sell and enter any needed information.
6. Then select Save and Send.

For more information in creating an estimate, you can check out this article: Set up estimates in QuickBooks Online.
 

Once your work is done, you're now ready to send an invoice. You can check out this article for a detailed step-by-step on how to create an invoice. 
 

I've also added this article if you want to create and send statement in the future. 
 

Feel free to post a reply if you have any other concerns, like how to customize invoices and custom form styles. I'll be happy to help you out. Take care!

@michael-li-desig 

One QBO account is for one company file. You can manage branches/divisions by utilizing the Class/Location feature available in QBO Plus. Otherwise you should open a new account.

https://quickbooks.grsm.io/EU

You may also need an additional app to separate the Proforma Invoice and Commercial Invoice.