The feature of working in two company files is available for QuickBooks users in the following software:
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.
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.
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:
In addition to the list above, when two company files are open you also can't do the following in the secondary file:
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