It is a convenient feature of QuickBooks Online (QBO) that allows accountants, bookkeepers as well as small business owners to manage all of their company files under a single user ID, in case they have numerous businesses to manage or numerous clients to cater to. This simplified system does not require you to sign in and out all the time, so you can save time and energy. Although the files are individual company files and therefore require individual subscriptions, the ease of moving between the files on the same dashboard makes this a big strength.
This article will guide you through the easy process of changing between company files in the QuickBooks Online, it will also answer some of the common questions that many have had concerning it.
How to Switch Companies in QuickBooks Online?
You can quickly move between businesses if you have both the desktop and mobile versions of QuickBooks Online.
On Your Desktop Browser:
- You can log in to QuickBooks Online.
- As you can see, at the upper right-hand corner of the dashboard, there you will find a gear icon. You need to click it.
- On the left of a screen under the Profile section, you will find the option of Switch Company.
- All the files of the company that have a relation to your user ID will be seen in a list.
- Choose a company to visit on the list.
QuickBooks will now open the dashboard of that particular company where you can take care of the particular financial data.
On the QuickBooks Online Mobile App:
The process is a bit different depending on whether you are doing this using an iOS or an Android device.
- iOS Devices: Select Settings from the main menu, followed by Switch Company.
- Android Devices: Navigate to the home page, select the “All” tab from the hamburger menu. The Switch option of the company is located towards the bottom of the list.
In each of these, you will be given a list of companies that you can select.
Why You Should Switch Between Companies This Way
There are a few benefits involved when using this built-in feature:
- Efficiency
It spares you the ganging of typing in details and signing in and out whenever you want to use the books of another company.
- Centralized Management
It gives you the freedom to manage all your businesses or clientele through one and the same account.
- Convenience
It is very fast and simple and you can reach the data that you are interested in with a few clicks only.
Tips and Recommendations
- Company Access
You should be granted the required access to various companies using QuickBooks Online. In case a company is common with you, then ensure that the owner has given you the necessary privileges.
- Multiple Subscription Offerings
QuickBooks online offers a number of different subscription offerings at different levels of access and capabilities. Make sure that you have a subscription plan that will enable you to work with various companies.
- Data separation
The data of any company is independent and secure. When you change companies, take care not to swap transactions or company data.
- User Roles
You can also specify the right user roles in each of the companies that will have access and powers to modify financial data. This especially matters when you have more than one partner in the team collaborating with other companies. In case you require branding of user roles, upgrade to QuickBooks online advanced. Find out more about the user roles and permissions in QuickBooks Online Advanced.
Conclusion
Being able to handle a number of businesses or accounts of clients does not have to be time-consuming and a complicated matter. With the aid of the Switch company feature in QuickBooks Online, one can easily streamline the business by centralizing the processes and moving through business files. This way you can keep correct and proper records of each entity and at the same time have a single and unified user account.
Frequently Asked Questions
Is it possible to have more than one business under one QuickBooks Online subscription?
No. Every company file in QuickBooks Online has its own subscription that needs to be paid to be able to access that file. You can use the same ID to access all of them but they are all different companies and each incurs its own billing.
How can I add a new company file to my account that already exists?
You must buy a new subscription if you wish to add another business. Visit the QuickBooks subscription program and click to choose the level that suits you. In your sign up, you will be informed to use the same Intuit ID instead of creating a new one. Additionally, this will link the new business to your current account.
Do all companies offer the same user permissions?
No. The access rights and user permissions vary depending on each company file. In case you have multiple users, each user will require an individual access to the company files.
Will any adjustments that I make in one of my company files be reflected in the other?
No. The files in each company are entirely different. Depending on the kind of changes made in one vendor list, chart of accounts or any other information, these changes will not be reflected even in any other company files. This is so that each business does not tamper with the financial records of another business.
Is there a Limit to How Many Companies I can have within a Single Account?
There is no hard limit regarding the number of company files you can maintain under one user ID in QuickBooks Online. Yet, it is necessary to keep in mind that different companies are to have their separate subscriptions.
