I appreciate you for using QuickBooks Online (QBO) as your partner in running your business, @smomin.
I'd be glad to impart some insights on how you can categorize your sub-companies. You can utilize the Class Tracking or the Location Tracking features in QBO to keep track of your sub-companies sales and expenses.
You can use classes to track your transactions by department or product lines. This way, you stay informed of the profit of your sub-companies. Or, you can use location tracking to categorize your data from different locations, offices, and departments. To learn more about this, feel free to check out these links:
Also, in setting up your Profit & Loss report, you'll want to ensure you filter the date of your report and your transaction correctly. This way, we can guarantee it'll show accurate data.
Moreover, I'd suggest reaching out to your accountant or visit our ProAdvisor page if you don't have one. They'll be able to share with you other ways of categorizing your products and ensure the accuracy of your accounts. They can also guide you whether or not you will be using the same Costs Of Goods Sold (COGS) account or create a different one.
In addition, check out this article for guidance in ensuring your accounts and books are a match: Reconcile an account in QuickBooks Online.
Whenever you need help managing your sub-accounts or with your QBO, you're always welcome to leave a reply in this thread. I'll be more than happy to back you up! Keep safe and have a good one!
