Two Is Better than One!

The feature of working in two company files is available for QuickBooks users in the following software:

• QuickBooks Premier Accountant Edition;
• QuickBooks Professional Bookkeeper; and
• QuickBooks Enterprise Solutions, versions 2011 and later.

How to Open a Secondary File

The first file you open is going to be labeled Primary and has a few limitations. The second file is labeled Secondary and has even more limitations. If you close the primary file while a secondary file is open, the secondary file becomes the primary file.

Start by opening your first company file as usual. Once that file is open, simply choose Open Second Company from the File menu.

Benefits of Two-Company Function

So why work in two QuickBooks files at once? Suppose you own two businesses and you have loaned money back and forth. Usually, there is a register on each set of books that relates to the corresponding loan balance for the other company. Bookkeepers often spend a lot of time reconciling differences. By viewing or working in the registers of the two companies side-by-side, it is easier to enter new transactions or find and fix discrepancies.

Some Restrictions Apply

While having the option to work in two company files is a time saver, there are some things you can't do. Here is a list of the operations you can't perform in either file when they are both open:

Even More Restrictions Apply

In addition to the list above, when two company files are open you also can't do the following in the secondary file: