Discussion:Separate books for separate business operations?

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

(Difference between revisions)
Jump to: navigation, search

Bean (Talk | contribs)
(New Discussion)
Next diff →

Revision as of 00:34, 21 October 2008

Discussion Forum Index --> Accounting Questions --> Separate books for separate business operations?

Bean (talk|edits) said:

21 October 2008
Several franchises are owned by my client (same federal ID#). Client is C-Corp, just formed this year. I'm thinking of setting up separate books (in QuickBooks) for each franchises, should one day they want to sell a portion of their business - wouldn't this make the books easier to follow? I could just separate them in terms of classes in the P&L section (but still in one QB file), though might not be able to in Balance Sheet. Has anyone run into this? Please share your thoughts!!
Retrieved from "http://www.taxalmanac.org/index.php/Discussion:Separate_books_for_separate_business_operations%3F"