How to setup subsidiaries in QB Enterprise 2009 for consolidation

Posted by bstenz on January 21, 2009, 8:59 pm

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I've heard that QB Enterprise 2009 can perform consolidations,
however, the Help Menu provides no guidance. How is this best done?
I'm tempted to just create unique GL accounts (P&L and BS) and be done
with it (i.e. book quarterly entries based on the financial statements
(prepared separately by various acct firms) of our subsidiaries).
Thanks, Bob.

Posted by Karl on January 22, 2009, 2:20 pm

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Since you are entering only summary data, you could set up each company as
class in one QB file and journal in the entries from the various acct firms.
You can do this with Pro/PRemier and ES. Run the QB PL report by class to
see PL by "company".

ES can create consoliating financial statements from multiple QuickBooks
file. You just tell ES which files to use and it grabs the data from each
file.

You can do the same thing with Pro and Premier by using a third party progam
like our Report Combiner from http://www.q2q.us/combineroverview.htm

> I've heard that QB Enterprise 2009 can perform consolidations,

> however, the Help Menu provides no guidance. How is this best done?

> I'm tempted to just create unique GL accounts (P&L and BS) and be done

> with it (i.e. book quarterly entries based on the financial statements

> (prepared separately by various acct firms) of our subsidiaries).

> Thanks, Bob.

Posted by bstenz on January 22, 2009, 5:52 pm

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> Since you are entering only summary data, you could set up each company a=

> class in one QB file and journal in the entries from the various acct fir=

ms.

> You can do this with Pro/PRemier and ES. Run the QB PL report by class to

> see PL by "company".

> ES can create consoliating financial statements from multiple QuickBooks

> file. You just tell ES which files to use and it grabs the data from each

> file.

> You can do the same thing with Pro and Premier by using a third party pro=

gam

> like our Report Combiner fromhttp://www.q2q.us/combineroverview.htm

> > I've heard that QB Enterprise 2009 can perform consolidations,

> > however, the Help Menu provides no guidance. How is this best done?

> > I'm tempted to just create unique GL accounts (P&L and BS) and be done

> > with it (i.e. book quarterly entries based on the financial statements

> > (prepared separately by various acct firms) of our subsidiaries).

> > Thanks, Bob.

Thanks, I'm not a fan of class since the results come out at the field
level (verses record level...I export my trial balances into excel for
reporting and record level data pivots much more effectively) and I
believe class only works for the P&L. What is "ES"? Thanks again. Bob

Posted by Karl on January 22, 2009, 6:15 pm

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ES is Enterprise Solutions.

Since you are journaling in the amounts, you can add a class to all JE lines
and run as BS by class. To create the report.

Create a Custom Summary Report.
1.. Change "Display columns by" to Class.
2.. Change "Display rows by" to Balance Sheet.
3.. Change the Account filter to All accounts.
4.. Change the Report Title to Balance Sheet or Consolidating Balance
Sheet.
5.. Memorize the report for future use.

> Since you are entering only summary data, you could set up each company as

> class in one QB file and journal in the entries from the various acct

> firms.

> You can do this with Pro/PRemier and ES. Run the QB PL report by class to

> see PL by "company".

> ES can create consoliating financial statements from multiple QuickBooks

> file. You just tell ES which files to use and it grabs the data from each

> file.

> You can do the same thing with Pro and Premier by using a third party

> progam

> like our Report Combiner fromhttp://www.q2q.us/combineroverview.htm

> > I've heard that QB Enterprise 2009 can perform consolidations,

> > however, the Help Menu provides no guidance. How is this best done?

> > I'm tempted to just create unique GL accounts (P&L and BS) and be done

> > with it (i.e. book quarterly entries based on the financial statements

> > (prepared separately by various acct firms) of our subsidiaries).

> > Thanks, Bob.

Posted by bstenz on January 22, 2009, 7:58 pm

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> ES is Enterprise Solutions.

> Since you are journaling in the amounts, you can add a class to all JE li=

nes

> and run as BS by class. To create the report.

> Create a Custom Summary Report.

> =A0 1.. Change "Display columns by" to Class.

> =A0 2.. Change "Display rows by" to Balance Sheet.

> =A0 3.. Change the Account filter to All accounts.

> =A0 4.. Change the Report Title to Balance Sheet or Consolidating Balance

> Sheet.

> =A0 5.. Memorize the report for future use.

> > Since you are entering only summary data, you could set up each company=

> > class in one QB file and journal in the entries from the various acct

> > firms.

> > You can do this with Pro/PRemier and ES. Run the QB PL report by class =

> > see PL by "company".

> > ES can create consoliating financial statements from multiple QuickBook=

> > file. You just tell ES which files to use and it grabs the data from ea=

> > file.

> > You can do the same thing with Pro and Premier by using a third party

> > progam

> > like our Report Combiner fromhttp://www.q2q.us/combineroverview.htm

> > > I've heard that QB Enterprise 2009 can perform consolidations,

> > > however, the Help Menu provides no guidance. How is this best done?

> > > I'm tempted to just create unique GL accounts (P&L and BS) and be don=

> > > with it (i.e. book quarterly entries based on the financial statement=

> > > (prepared separately by various acct firms) of our subsidiaries).

> > > Thanks, Bob.

> Thanks, I'm not a fan of class since the results come out at the field

> level (verses record level...I export my trial balances into excel for

> reporting and record level data pivots much more effectively) and I

> believe class only works for the P&L. What is "ES"? Thanks again. Bob

Thanks...yes...I can see that the custom summary reports could work.
However, I'm not looking for a report that puts the sub's in a
seperate column. Instead, I'm looking for a way that the subsidiary
information is defined at the record (row) level. I'm still curious
though on what is meant by "ES can create consoliating financial
statements from multiple QuickBooks file". How would this be done?
Regards, Bob