Selecting yes will not negatively effect anything in QuickBooks. You must choose a folder in which to save your file. The default location for QuickBooks is inside of an folder called Intuit, and the Intuit folder is usually located in the My Documents folder on a PC. The options are Sole Proprietor, Partnership, LLC, Corporation, S Corporation and Non-Profit.

But for most businesses there will be transactions that have already occurred in the business prior to the QuickBooks setup. QuickBooks is one of the best accounting software that has been used by individuals, companies, and businesses all over the world. Its user-friendly interface and directions make it possible for people from any and various wakes of life to able to access the pleasures of easy accounting in a breeze. How do I set up multiple companies in QuickBooks? Well, this is exactly what this blog is here to help you with. Here, you will find simple, step-by-step instructions to add multiple companies to the same QuickBooks account.

How to Set Up New Company File in Quickbooks

So, here is a how to set up a new company in quickbooks guide to set up company file in Pro and premier. Is one of the most important steps when creating a new company. QuickBooks will automatically select various accounts based on the industry that you chose earlier. However, you can select or deselect any account that you choose.

  • Next, set up the mapping of the file column related to the QuickBooks field.
  • The Income Tax Form Used box at the bottom of that window lists the tax form for your company type.
  • There are some product-based industries that wil create estimates as well.
  • If your business is just starting you will not need to enter beginning balances or historical data.
  • For example, if you’ve worked with an accountant to set up your company, she might provide you with a QuickBooks company file already configured for your business so you can hit the ground running.

Follow the onscreen instructions and accept the license agreement. In your browser, navigate to Quickbooks.intuit.com (choose-country) and pick the country where you are situated. You will then be taken to the Quickbooks Online website that is specific to your region. We value your privacy and are strongly against any kind of phishing, spam, and malware.

Starting from Scratch

After this, you have 2 ways to create the new company file 1. If you selected the Detailed Start, then you need to enter all the detailed information to get it started. It isn’t easy to start a new company file and will require following the steps mentioned below carefully. But, it is worth the efforts as future data corruption issues and eventually, data loss can be avoided.

Can I have 2 companies in QuickBooks Online?

You can have multiple companies under the same QuickBooks Online account. Each company file is its own paid subscription, but you access them with the same sign-in info. This lets you quickly switch between companies so you can manage everything more efficiently.

When you select a type, QuickBooks assigns the corresponding tax form to your company file. The Income Tax Form Used box at the bottom of that window lists the tax form for your company type. As its name implies, Express Start gets you going as quickly as possible by asking for the minimum amount of info .

Creating a Company File in QuickBooks Pro 2013

Select the Service option to set up services you sell, or select the Non-inventory part option to create products you sell , and then click Continue. Fill in the names, description, and prices, and click Continue again to save your items. Screen is where you tell QuickBooks whether you offer services, products, or both. When you choose one of these options, the program figures out which types of income accounts you need. If you select “Products only” or “Both services and products,” another screen later in the interview asks whether you want to track inventory. The business name you enter will be displayed on your Dashboard at the top left, and in the Company Menu button at the top right at all times.

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