Businesses with multiple related companies haven't had to manually create the same transaction in multiple QuickBooks company files to record intercompany financial activities correctly.
But, Enterprise Platinum, Diamond and Accountant 23.0 allows you to create relationships between multiple QuickBooks Company files, make intercompany transactions (bills/checks) with the Related Companies and track these transactions.
This feature will be especially beneficial for holding companies with multiple subsidiaries. This is where they perhaps handle most of the significant accounts payable transactions, and then typically internally bill each of the subsidiaries a representative portion of those costs.
In today's webinar (set for 2 p.m. EST), Esther Friedberg Karp and myself will demonstrate how Intercompany Transactions are supposed to work in "real life." We will use two QuickBooks Enterprise Company files 1,200 miles apart—with Esther in Canada and me in Oklahoma.
Together, we will establish the Intercompany Relationship—just like two related companies would if they were working together day in and day out.
Esther and I are going to show you how the new Enterprise Intercompany Transaction feature really works with a "Big company" and a "Little subsidiary" in different parts of the world (the US and Canada). But you could use it the same way if you had two different company files in the exact same office and you wanted to share payables. — Murph
Then, we will process Intercompany transactions against each other’s companies, just as you would expect two related companies to do if they were billing each other for equitable shares of costs paid on the other company’s behalf.
We also will review related reports, and examine how QuickBooks Enterprise tracks these costs across one parent and subsidiary relationship, and a parent company with multiple subsidiary relationships.
If you have wondered if this new QuickBooks Enterprise feature can really handle interrelated businesses sharing common payables, this webinar will show you how it's done, live, without the PowerPoint back-n-forth.
Join Esther and me as we work in a multi-company Big Company, Little Subsidiary environment with the QuickBooks Enterprise Intercompany Transaction feature.
And earn yourself one CPE credit at the same time.
It's not too late to attend today's webinar HERE.
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