How to Set up QuickBooks Multiple Companies in One Bank Account

Setting up multiple companies on one bank account in QuickBooks is a time saving and an effort-saving smart move in managing your business well. In this article, we will look at all the information you need to set up multiple companies in one bank account in QuickBooks. So without wasting any more time, let us begin.

Who needs to set up multiple companies in one bank account in QuickBooks?

Find out here if you really need multiple companies on one bank account in QuickBooks? Here are a few factors to consider:

  • Do your own more than one company? If yes then you may need to set multiple companies on one bank account in QuickBooks.
  • If you own more than one company you do not have to but different copies of QuickBooks per company. This is the exact place where you should learn how to set up multiple companies in one bank account in QuickBooks.

Benefits of setting up multiple companies on one bank account in QuickBooks:

  • You can create many company files that are totally different from one another within one copy of QuickBooks
  • The process to set up the new company file is the same. It can be created with the help of ‘New Company Wizard.’
  • You can adjust and personalize each company file once it is set up.

How to set up multiple companies in one bank account in QuickBooks?

In this section, we will look at the ways of setting up multiple companies in one bank account in QuickBooks. Please make sure that you follow the steps in the right order as mentioned below:

  • Open QuickBooks program.
  • Click on the option that says- ‘File’
  • From the drop-down menu please select ‘New Company’ option.
  • The ‘New Company’ window will open.
  • You will see another drop-down list. In this list look for the option that says- ‘Start Interview.’
  • Here you need to enter the Company’s ‘name’, ‘address’, ‘Contact information’ such as email, telephone number, fax number, mobile number etc.
  • After filling in your details please click on ‘Next’ button.
  • Browse your computer and choose a desirable location where you would prefer to save the ‘new Company file.’
Tip: Save the New company file with a name that easily reminds you of the content in the file.
  • Click on ‘Save’ and then on ‘Next.’.
  • Complete the remaining fields of the ‘Interview Wizard.’
  • Click on ‘Finish.’

You can use the same process for setting up any number of files. To switch between the companies you need to:

  • Click on ‘File.’
  • Click on ‘Open Previous Company.’
  • Choose your desired company and click on ‘OK.’

Scope of Service:

We hope this article assisted you in setting up multiple companies in one bank account in QuickBooks.