I am new to QB and in the beginning stages of starting a few companies and I was wondering if QB is able to handle the accounting/payroll etc for multiple companies at one time with one program or if each company would have to purchase its own software and work it individually?
We have four companies belonging to same group in three locations.
We need to have P&L company wise / locationwise / costcentrewise.
Is it possible thru quickbooks?
gdianne,
If each company is part of one larger single company and all the small companies together have a combined P&L and balance sheet then you can use Location tracking in your Online Edition company. Location tracking is a good way to categorize your sales and vendor transactions when you have multiple locations for a single company.
If Each company stands on its own and needs completely separate financial reporting then you would need a separate subscription for each. I hope that this helps!
swarnapriyaa,
Check out the response I just posted for gdianne. I think that will answer your question also. :)
Does your reply apply to online version alone or is it applicable to usual desktop version also :-)
Hi, I have a follow-up question to your answer. I have multiple companies that stand on their own and understand that I need separate subscriptions for each. However, there is a "parent" company and we would like to see a roll-up of all of the companies' P&L, balance sheet etc. It is my understanding that the online version can not consolidate them. Is this also true for the desktop version? Is there any third party software that can do it? Also, as I'm coming in to replace the person who originally ordered the product I'm wondering if the only real benefit of the onlin version is that you can log in from multiple locations. Are there any other substantial differences?
Can you run multiple companies on one Online account like you can with the desktop version? If so, what is the limit?
