Be certain to identify each transaction by its class, however, to keep the reports accurate.
If your company has several divisions or wholly owned subsidiaries, consolidating financial statements from all of them gives you a complete picture of the parent company’s financial health.
Quick Books lets you identify transactions by class, giving the user great flexibility in how to define class.
If your company has several divisions but is still a single legal entity, designate a class to report profit and loss by division.
You can use Quick Books to consolidate statements, but it involves careful bookkeeping.
Under some circumstances, you’ll need an upgrade or use of a third-party program to import the financial data into Quick Books.