Any non-Tax accounting topics go here.
consolidated F/S in QBO?
My client's bank needs a single consolidated F/S for all of his ten entities.
These are all set up as separate entities in his QBO system.
I do not see anything like that even in the highest level of QBO. There are likely plug-ins that can accommodate this need but haven't used any to recommend.
The last time I had to do something like that (MMLLC owning about 15 SMLLCs), I did the consolidation in Excel.
the bank asks for so many things from me.
the spreadsheet i do every month is a killer.
the ten entities pay each other and borrow off each other, have to track all that.
Quickbooks Desktop Enterprise has this ability but not aware of it in any other version of QB. I have to say I have not been impressed when I did it, and felt I could do it more efficiently in Excel. Create formulas for critical tests and rules that brightly highlight potential errors.
Or look into QBO plug-ins for this purpose. I am still skeptical of their ability to handle it WELL--seems there is not much in the way of software that promises more than it actually delivers.
Many large companies (200m balance sheets) consolidate using Excel...
thanks, i feel better now.
I feel like you can do this using the class system. I've done it before, but it in the desktop version. Does QBO not have classes? https://quickbooks.intuit.com/learn-sup ... /00/185609
ok, but the class system is over my head.
The problem is i have ten entities that are set up as separate entities in the QBO system.
Classes work only within one entity, i guess?
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