My family and I are going have signed on with a fast casual restaurant and are hoping to use qb as our accounting software. we have the rights to 3 franchisee's and 3 different locations. Will I be able to use 1 qb online account to track the stores individually? or 3 separate qb online accounts? or would qb pro be a better option?
I want to be able to individually manage the numbers of each location, thanks
Good day, mdod.
I want to be the first to welcome you to QuickBooks family.
Additionally, if those restaurants have different EINs, you'll have to create separate accounts.
Only the QuickBooks Desktop Enterprise can set up multiple locations for tracking inventory. In QuickBooks Desktop Pro, what I can suggest is to create a new company file by location. This way, you can manage them individually without confusion.
These should help you decide which one to use. I'm always here if you need more help.
hi @mdod ,
It depends on how you will manage your daily operation. Do you have any plan using other application (i.e POS, inventory management, workforce scheduling, etc)?
all will operate under 1 ein, I just want to make sure I can track expenses, and income by each location and not as a whole. Inventory tracking will not be specific in this case with QB.
Can QB online track the different incomes for different locations and generate P & L's for different locations?
In your case, I prefer using QuickBooks Desktop Premier edition for 1 user and using the Class feature to record 3 stores separately. You don't have to bother with renewal or monthly subscription. Keep in mind, if the POS doesn't support QuickBooks, you have to import the data manually into QuickBooks or using a 3rd party data import (i.e TP Importer or else).
Yes, mdod. QuickBooks can generate reports by location tracking.
You can either pull up the Sales by Location Detail to show the list of transactions assigned to a location. While the Sales by Summary report gives you the total amount per location alone.
Let me show you how to generate it:
For your P&L, you can run the Profit and Loss by Location report. Please follow the same steps above on how to generate it.
You can also save the customized report so you can access it anytime without filtering it again. Just click the Save customization button. Any saved reports can be shown in the Custom reports tab.
Let me know if there's anything else that I can help you with. Have a great day!