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consolidated F/S in QBO?

PostPosted: 11-Feb-2021 12:24pm
by juro
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.

possible?

Re: consolidated F/S in QBO?

PostPosted: 11-Feb-2021 4:39pm
by CornerstoneCPA
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.

Re: consolidated F/S in QBO?

PostPosted: 11-Feb-2021 4:46pm
by sjrcpa
The last time I had to do something like that (MMLLC owning about 15 SMLLCs), I did the consolidation in Excel.

Re: consolidated F/S in QBO?

PostPosted: 11-Feb-2021 8:25pm
by juro
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.

Re: consolidated F/S in QBO?

PostPosted: 12-Feb-2021 9:55am
by CornerstoneCPA
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.

Re: consolidated F/S in QBO?

PostPosted: 13-Feb-2021 4:21pm
by HenryDavid
Many large companies (200m balance sheets) consolidate using Excel...

Re: consolidated F/S in QBO?

PostPosted: 14-Feb-2021 2:15pm
by juro
thanks, i feel better now. :D

Re: consolidated F/S in QBO?

PostPosted: 17-Feb-2021 4:20pm
by IDunnoItDepends
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

Re: consolidated F/S in QBO?

PostPosted: 3-Mar-2021 12:09pm
by juro
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?