How do I create a subsidiary company within an existing company file? I want to be able to log income and expenses for a small subsidiary company within my existing parent company file. However, I do not want these entries to reflect on the parent company financials - only the subsidiary's financials.
Is this possible?
I am astounded that the QB help function does not know either the word subsidiary or consolidation - the level one support desk thought that a subsidiary was a vendor - i am canceling my subscription - this is pretty basic stuff
The only entries that you can enter that will not reflect in the company file are the non-posting ones like estimates. Why do you want to track the subsidiary in the company file in the parent company? If they are two separate entities, then you should track them as such in two company files.
If the subsidiary is part of the parent company (all the same FEIN #), then you would want to have it included in your total numbers and use the class feature for separate reporting of P&L accounts.
If you just want to see the numbers together, you can always have separate data files and export the numbers to excel to combine or compare them.
in response to my question re. Creating a parent company with subsidiaries
QB support sent me to this article, but i can't open it
they really are not much help
comment to lynda - there are lot's of reasons to want to view the results of a subsidiary independently of its parent (or sisters) - one reason is if your are considering selling the subsidiary - in my case, however (nothing is for sale), I would be happy either to consolidated them or actually merge them, but i do not want to re-enter the data manually
Second reason - what would you do if you were considering purchasing a company and wanted to view it in combination with your own company on a pro-forma basis - the easiest way is to be able to show them on a combined basis - if there are inter-company items you need to eliminate the me with consolidation - nobody at QB seems to know what i am talking about but we can't be the first to have this issue
Hello rdk2u,
The following post should answer your question about running two companies out of one company file. The bottom line is that while you can separate income and expenses, you'll have a hard time separating the classes and as such producing separate balance sheets.
http://community.intuit.com/po...
I hope this helps.
Amy K
