Use existing square account for new business?

[WCC_2023]

A bit of a newbie question on Square (and business)...  My wife and I are taking over a retail storefront.  We are planning to register it separately from our existing craft business. But given that we have a square account for our existing business, and in the spirit of saving a few bucks, we wondered if there is an option to "add" that business to our existing Square account and use the hardware we already have.

My thought was to add the new business as a new location to keep it 'independent' of the other business.  With the new location, I could tie everything (e.g. sales, taxes, etc.) to new bank account and track/report separately.  Does anyone know if this is a wise choice and/or if this is even an option for us with our existing Square account?

Thanks,

Bryan

[ryanwanner]

@WCC_2023  Bryan, you hit the nail on the head.

Each location can be set up with different EINs or use the same you have now. Each location will report separately and you can set up different sales taxes per location if need be.

The only downfall is that you won't have access to historical data from the new place. If that's important to you and the old owners were using Square too, you can have them transfer their business to you via the Dashboard.