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Level 1

Transactions from foreign branch

Hi all!

 

We are a US C-Corp with a branch in Greece. The Greek branch has it's own tax autonomy and is taxed independently and should just report quarterly results to the US corp.

 

We have 4 bank accounts: SVB (belongs to the US corp), Transferwise (US), Paypal (US) and a greek bank account that belongs to the Greek branch. However, more than  half of our expenses (salaries etc) are paid via the greek bank account.

Question: Is it possible/advised/correct to also record every transaction of the Greek bank account into QB? I would prefer it that way, because I would have a total overview of expenses in one place and not have to consolidate everything into custom excel sheets.  If yes, how do I mark these transactions as belonging to the Greek branch so they are not counted as US revenue/expense?

 

Thanks,

Alex

1 Comment
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Level 15

Transactions from foreign branch

no, you can not make entries that do not count toward the company bottom line in QB

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