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Level 1

Multiple businesses in multiple countries

I have a Quick book online account. 

I would like to set up two companies in two different countries. I aould also set up 3 business units under each company. These business units have the same name and I would like to measure the profitablility of each business unit in both conutries. Assuming i am going to use the same chart of accounts in both countries.

Is this possible to set up in QuickBooks Online?

 

Here is a diagram showing the structure. I may also look into consolidating these two companies under a single company based in one of the countries.

 

      Company A (Canada)                                                       Company B (USA)

 

BU 1             BU 2            BU 3                                                BU 1           BU 2          BU 3

 

P&L 1         P&L 2          P&L 3                                              P&L 1         P&L 2        P&L 3

Assets 1    Assets 2     Assets 3                                        Assets 1      Assets 2    Assets 3

 

I will really appreciate your help.

2 Comments
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Level 15

Multiple businesses in multiple countries

US and Canadian versions are much different, you will have to subscribe to each version separately. I am not even sure you can use the same log in to get that done. On top of that my understanding is that you can only subscribe to a US version if you have a US account to pay from, same with the Canadian versions.


Best thing is call intuit and find out

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Anonymous
Not applicable

Multiple businesses in multiple countries

Hey @jguven,

 

Are you trying to set up completely separate accounts for each business? Or do you want to manage multiple companies under a single account?

 

For QuickBooks Online, you need a separate subscription for each company (multicurrency is an option). It can be very difficult and messy to separate different streams of income and expenses for separate entities, plus you are required to enter one EIN per file. Come tax time, this will be an issue. 

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