I have not used
Can QuickBooks do 1) subsidiaries that roll up to parent and 2) interchange between languages such as Spanish and English?
Answers
QuickBooks Enterprise does consolidations or in non-enterprise QuickBooks you can assign a class to each subsidiary as an alternative. I do not know about the language conversion.
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Thanks. I will give the class route a try.
Consider a bilingual COA to unify the COA across all locations. Then, whether you're using Enterprise (in which consolidation is easy) or another version in which you need some
Please note, even though recent versions of QuickBooks do show a "Balance Sheet by Class," the facility is inadequate and most QuickBooks practitioners don't use it. We're all pretty disappointed with it.
What Jaime said is correct for earlier versions of QB, when Class Balance Sheet was introduced. One of our clients has 3 separate entities and we use QB 2014 enterprise to keep track of each entity. We do use class for each and a common COA. The thing to keep in mind is inter-company transactions, we have to treat all related transactions as such and use the due to, due from accounts. If you keep these transactions clean, the Balance sheet works as well as the P&L.
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Thank you to all for the responses. For now I will keep to QuickBooks Pro and deal with the issue using Class approach to keep the non profits costs down. I also appreciate the insight in making sure to use the same COA for the 4 subs and parent.
Does anyone know if this can be done in Xero?
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