Considerations When Managing Multiple Entities in QuickBooks

Multiple entities and their consolidation in QuickBooks are a real challenge.

Many QuickBooks users start off using this simple bookkeeping application to track a single business entity. A company or organization with a single location doing business in one market is a single entity. However, a business that has a single location but has transactions taking place in diverse areas or using different currency may want to set up discreet financial entities to better track how one region is doing as compared with another. Additionally, an organization with multiple locations or operations may want to compare these with one another. Each entity will have its own chart of accounts.