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Established Member

Multiple businesses accounting

Hi, 

I have one holding company and few rehab properties, each is a different entity and have separate QuickBooks online subscription. 

Most of my day by day expenses for the rehab properties are paid by the holding company (paying contractors, Architects materials etc) 

but I still want to be able to track all expenses for each property by account  and vendors. So in the end of the project I can know how much I paid for each vendor, and have a good balance sheet and p&L. 

How do I record those expenses that were paid by the other holding company  in the rehab company, and also how do I record them in the holding company. 

Thank you for who ever able to help. 

:)

3 Comments
Established Community Backer ***

Re: Multiple businesses accounting

hi @ Roysh ,

Why didn't you use only 1 account and apply the class tracking feature instead? I am not sure whether there is any add-on of expense management which has ability to be synchronized with multi QBO account concurrently.

 

Just my 2 cents. 

Established Member

Re: Multiple businesses accounting

Thank you @Fiat Lux - ASIA  

well I have a separate entity for each property, and keep reading that everyone say that each entity need its own subscription.

But regardless, I tried to do what you suggested, but what happens when I need to pay back expenses from the rehab property To the holding property?  Or also how do I track the exact amount I need to pay the holding company back?

 

Established Community Backer ***

Re: Multiple businesses accounting


@Roysh wrote:

Hi, 

I have one holding company and few rehab properties, each is a different entity and have separate QuickBooks online subscription. 

Most of my day by day expenses for the rehab properties are paid by the holding company (paying contractors, Architects materials etc) 

but I still want to be able to track all expenses for each property by account  and vendors. So in the end of the project I can know how much I paid for each vendor, and have a good balance sheet and p&L. 

How do I record those expenses that were paid by the other holding company  in the rehab company, and also how do I record them in the holding company. 

Thank you for who ever able to help. 

:)


The holding company pays the expense and sets it to a billable expense for the property (you need QBO+ for this feature).  The the holding company invoices the property and the property pays the invoice recording the payment as an expense.  Put the vendor name in the memo block of the payment to the holding company if you feel you need that info.

 

The holding company would book the payment under billable expense income, an income account.  On the P&L income is reduced by expense so this transaction when paid will wash.