During the initial setup of Quickbooks, you’ll be asked to enter several different fields of information related to your business, including name, address, legal/tax info. While this process is straight forward thanks to Intuit’s convenient EasyStep Interview, some users may find it difficult to change this information later. If you recently restructured your business from a Sole Proprietorship to a S-Corp, for instance, you’ll need to update your Quickbooks information to reflect the new name of your business/company.
Your company’s name is used on a variety of documents within your Quickbooks account, including payroll, 1099, 940, 941, W-2 and W-3. Allowing your company’s old name to remain on your account could adversely affect all of these documents, potentially even voiding them. This is why it’s important for users to update their Quickbooks account to reflect their new business name.
Note: the only Quickbooks entry that cannot be changed is business type. Make sure this is correct when setting up your Quickbooks account.
Thankfully, changing the other business details in your Quickbooks account — including company name — is an easy and straightforward process that should only take a couple of minutes. To change your company name, access the Company menu > Company infromation. Here, you can edit details about your company, including your name. Delete the old name, enter in your new company name, and click Save to confirm the changes. Quickbooks will then instantly update your account and all of the respective forms to reflect your new company name.
If you are subscribed to an automatic payroll service, such as Assisted Payroll or Quickbooks Payroll, you’ll need to log in to your account to update it with your company name. Refer to the payroll service’s guides for more information on how to change your company name.
To prevent erroneous checks from being sent out, you should also adjust the payroll data before the next pay period. This is done by accessing Employees > Send payroll data > check to make sure there are no pending payroll checks > and click Send to issue a payroll of zero dollars.
Quickbooks makes it easy for users to modify their company information. As instructed in this post, it takes just a few quick and easy steps to change your company name, address, and other information. Just remember to double-check your business type when setting up your account, because this is the one entry that cannot be easily changed at a later time.