Hello everyone.
I’m doing bookkeeping for a real estate company who has separate corporations for each property.
I’m currently using QB desktop, having a separate file for each corporation.
Over all I’m happy with the software, however, I wonder if there’s out there a software that supports multiple entities at once? That would really ease up my work.
Thanks in advance for your recommendations.
You can use Quick Books enterprise solution
Oh wow, I haven’t thought of checking that out, thank you!
You can also use QuickBooks Pro, each property can be set up as a “Class”, which is kind of like a “department”. It will track all income and expenses by Class and you have a total picture of the different properties and of the Corporation in a Profit & Loss by Class.
The option recommended by @gaymwise is an excellent one which I use quite frequently with my clients. Much more cost effective than enterprise version
Each “property”???
Nah nah nah, absolutely not.
The various corporation’s CPAs will advise on what meets proper requirements.
The original poster says that the properties are in separate corporations. You need to have separate files for each corporation because each corporation has their separate F/S.
Apology, I missed that there were separate Corps for each property
I have used Sage 50 to amalgamate related corporations. I was surprised that someone would suggest using classes - apology accepted.
This would be good for unincorporated properties and for corporations holding several properties.
Thank you all for your help.