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How to Operate More than One Project Under One Company?

Syed Abid  Saeed's Profile

I am working as a Manager Accounts and using quick-books enterprise solution 12 R. We have more Five projects at the moment under one company (i.e. XYZ pvt ltd.), and want to manage all project from this company, that each project have its own customize financial statements ( B/sheet, Trial balance, and P/L acct.). How it is possible, I have tried by 'class' function but class doesn't filter report by all accounts (means it is not applying to Account payable, when I give class to A/P later it is not showing in customize report) Will appreciate your early response. Thanks

Answers

Topic Expert
Keith Perry
Title: Consulting CFO and Business Operations A..
Company: Growth Accelerator
(Consulting CFO and Business Operations Advisor, Growth Accelerator) |

Syed,

I tried similar long ago (or, better, I inherited it) with similar problems.
They may have improved this somehow, but my experience is that you need to have wholly separate company files, and then consolidate to get the company look (but so far as I'm aware that creates a temp file with no drill-downs, so is totally inadequate).
Lighter products, such as Xero, handle this pretty well, although this might not have adequate horsepower for you.

I suggest you testdrive some more modern systems, such as FinancialForce, Netsuite, Intaact, etc. Heck, if Xero is a fit, it is very easy to use. In any case you'll probably find a lower TCO so you meet your needs *and* save money.

KP

Syed Abid Saeed
Title: manager accounts
Company: t ent pvt ltd
(manager accounts, t ent pvt ltd) |

Thanks K P, for your response.
I would welcome to share me more valuable information. Please if you have other good software i can run my company more efficiently.

regards
Syed

Jaime Campbell
Title: Chief Financial Officer
Company: Tier One Services, LLC
(Chief Financial Officer, Tier One Services, LLC) |

If all of the projects are using the same chart of accounts, QuickBooks Enterprise Edition consolidates beautifully. The only problem I can foresee with having a separate file for each project is if there is a common bank account.

If you separate the files, create a separate bank account for each project.

None of this will cost you a penny.

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