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alshey
Level 2

Consolidating foreign multi-entity books

Dear QBers,

 

I have four companies that need to be consolidated, one is running on a Canadian version of QB Desktop, while the others run on QB US Desktop. 

 

What are the solutions to:

 

1) Translate QB Canada books to USD

2) Consolidate and report all businesses under USD

 

Is there an out-of-box solution or am I liable to use Excel to stitch/translate/consolidate all four books at month-end?

 

Thank you,

 

Al

2 Comments 2
4Gal
Level 11

Consolidating foreign multi-entity books

Converting your QB Desktop CA file to the QB Desktop US version does not guarantee that you can consolidate it with 3 other QB Desktop US files in QB Desktop US Enterprise. I would recommend using a BI application to consolidate the four company files directly.

https://go.zoho.com/M5c

 

But if you still need to consider converting your QB Desktop CA file to QB Desktop US file, you can purchase a 3rd party conversion service.

AldritchM
QuickBooks Team

Consolidating foreign multi-entity books

Hi there,

 

Allow me to share some insights about consolidating company to your QuickBooks Desktop.

 

If consolidating different companies in different countries, QuickBooks is not advisable since it does not have a feature to consolidate all the transactions and reports. 

 

QuickBooks only permits one company per subscription. To add a second (or more) company, you must register for a new QBO account. This implies that each company you create will require its subscription, resulting in a separate QBO account for each company.

 

For consolidating reports, you can use a third-party app or export your reports to excel from QuickBooks. I'd suggest consulting an accountant for professional assistance. You can also find an accountant near to your area.

 

Additionally, I'd like to leave this article as your future reference:

 

If you have more questions about managing your data or any QuickBooks product, just click the reply button. I'm always around to help!

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