Simple tips to Combine Financial Reports in QuickBooks
We usually do not recommend QuickBooks Enterprise to many companies but there are a few
that fit this mold. One of the features that makes QuickBooks Enterprise a game title changer within my thoughts are the ability to consolidate two separate company's financial reports into one single report. QuickBooks has made the capacity to consolidate your Profit & Loss and the Balance Sheet in a somewhat pain free method. Before you begin make sure...
- you realize the password to each of the company files
- you understand where on your computer the other company file(s) are observed
- if you wish to merge the info easier ensure similar expense accounts have the very same wording in the chart of makes up both companies
Once you've figured out of the above you can now consolidate financial reports in QuickBooks. To consolidate company financial reports start by...
1.) Open the main QuickBooks company final that you wish to base the financial report with
2.) go directly to the top drop down list and choose Reports > Combine Reports from Multiple Companies
3.) Click Add Files... and select one other company(s) file you wish to combine the reports from
4.) find the reports you want to combine, I typically always select Balance Sheet Standard and Profit & Loss Standard
5.) Specify the report date range
6.) Verify the accounting method you intend to use Cash or Accrual
7.) elect to either leave the default name or rename it to exhibit the organization name you need
8.) Finally, click Combine Reports in Excel
The particular report itself that is generated usually takes a little bit of moving information around to
clean it up but the meat of all the numbers are there for you yourself to manipulate. When manipulating the data I'll usually save down a master copy and then editable copy. Once I've finished manipulating the data into the editable copy I'll compare it back to the master to make certain all of the balances match.
Hopefully it has shed some light on that question you have been thinking about every night of whether you can easily combine the financial reports of multiple company's.Contact QuickBooks Support if you want to know How To Combine QuickBooks Reports.
