QuickBooks stores all the information about your company and its finances in a special type of data
file called a company file. This file will have the extension .QBW on your machine.
If you run each business as a separate company and file separate
tax returns for each company (or separate US Schedule C Forms), create each company as its own company file in QuickBooks. The easiest way to do this is to go through the EasyStep Interview each time you want to create a new company file. Remember to answer the questions in the EasyStep Interview for the company you are currently creating.
If you run small businesses under one larger business and
report on that larger business for tax purposes, you can go through
this EasyStep Interview once to set up your company and still track each
business, location, or department's finances separately.
If you have one company with several locations or departments whose finances you would like to be able to analyze separately, you can separate your company into departments using the QuickBooks "classes" feature.