Report Consolidation in QuickBooks Enterprise
One of the foremost common tasks I perform for my shoppers is consolidating or combining multiple QuickBooks® files to form a combined set of monetary statements. Most of my shoppers have QuickBooks Enterprise, which feature is built-in!
However, I do have some shoppers that don’t use QuickBooks Enterprise, opting to use QuickBooks Pro/Premier or QuickBooks on-line instead. But, once they do need to consolidate reports, we tend to resort to 2 options:
Export the reports to surpass, and mix them manually (which needs some intensive work with obtaining all chart of accounts to match and a few knowledge manipulation in excel), that might be a task that takes between one to four hours.
Use one amongst the various third-party apps that area unit style for consolidation, like FathomHQ, Spotlight news, Qvinci, QQUBE, bovid Analytics and Infor F9.
But, let’s target the way to set about combining multiple QuickBooks Enterprise company files. First, detain mind the subsequent necessary caveats to be ready for:
1. build your chart of accounts within the many company files as nearly identical as you’ll, creating combined reports abundant easier to scan.
2. Accounts can solely be combined if they’re identical. (Have a similar name, same sort and area unit at a similar hierarchal level in every report. However, the nice news is that they’re not case sensitive.)
3. Accounts that may NOT be combined:
Identical Account names with completely different account numbers; as an example “6115 – Utilities” are a special account than “6778 – Utilities.”
One account with AN account range, ANd one while not an account range. as an example, “6200 – RENT” are a special account than “RENT.”
Accounts at hierarchy completely different levels, like AN “Office Supplies” account, aren’t combined with AN “Office Supplies” sub-account of “Office Expenses.”
Name variations because of orthography. as an example, “telephone” isn’t combined with “telephones.”
4. Accounts area unit listed by sort. among every sort, accounts area unit listed within the order of what has been exhausted the primary elect company file. subsequent accounts from the opposite company files area unit appended within the order they’re encountered.
5. you’ll be asked to log into your files and switch them to multi-user mode to accommodate the mix routine, which implies you would like to sit down before of the pc and enter the login credentials till all firms are loaded. once the last one is loaded, and also the surpass combination is going on, then you’ll get on my feet and obtain some low.
After you’ve got done the preparation add your chart of accounts, and created positive you had admin level access to any or all firms, you’ll follow these steps in QuickBooks Enterprise, with a minimum of one amongst the businesses open:
1. From the Reports menu, choose mix Reports from Multiple firms.
2. Click Add Files, find the opposite company file and click on Open. Repeat for added files.
3.In the choose reports for combining section, choose the reports that you wish to check combined data.
4. Complete the From and so far vary fields to line the report date vary.
5. choose a report basis.
6. Click mix Reports in surpass. A Microsoft surpass computer programme can open with the combined data.6.
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