Tuesday, December 14, 2010

Working with multiple QB files at same time...

One of the annoying limitations to QB has long been the inability to open more than one company file at a time.  With a lot of people having multiple company files, such as one for the personal 1040 and another for the corporation 1120, being able to work on both files simultaneously to ensure consistent posting of transactions between them, is a huge time saver.  I know a number of clients who actually have one entity on one version of QB (2003 for example) while their personal info is on a different version (2009 for example) because it has long been possible to have two versions of the program open at the same time.

Now, with the 2011 version of QB, they have finally added the capability to open two different company files in the 2011 program at the same time.  You actually click on the program icon to start the program again to trigger the following pop-up window.

From TaxGuru's QuickBooks Tips

The second company file has the following in its window heading.

From TaxGuru's QuickBooks Tips

I had heard about this new feature several months ago, but didn't have a need to use it intensely until last night, as I was working on a corp tax return and needed to match up the payments between the personal and corp files.  Having each QB file open in a separate monitor (I have four active monitors on my main computer) made the process so much quicker than the old way of  having to go back and forth opening and closing each company file several times.   

Every year, the Intuit developers add a few new features to the program.  This may be the one many people have been waiting for to justify upgrading from an older version of the program.