[Ronald Robson]

Hello,

I’m trying to essentially have 2 companies (parent and sub) separated in NS via locations. I had heard that it is possible to do this as a sort-of One World without all the costs. Anyway, I created a custom balance sheet that screens all transactions that do not belong to Location B. It looks fine. I created another version that screens all transactions belonging to Location B. It is totally hosed up with a huge number in retained earnings and the wrong net income on the year. Anyone have an idea on what is wrong or if this should work?

Thanks,

Ron
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[bboese]

RE: Locations impact on the balance sheet

It can work, Ron, and there are a few things to consider when running multiple companies in one NS account. We’ve done this with other companies on NS, and if you want a free web meeting for us to review your setup and provide advice, please contact me directly.

[fredpope]

RE: Locations impact on the balance sheet

We have done this previously with departments. Most of it worked, but occassionally there were certain transactions where we could not change the location and that caused minor discrepancies in the reporting, but nonetheless this was very useful in viewing the profitability of each department. Furthermore, you can select the department on each transcation going forward.

[Damon Read]

RE: Locations impact on the balance sheet

We have also done this with departments rather than locations. I do not see why locations would not work provided you have an absolute definitive one to one relationship between the location and the company.

We didnt start from day 1 however and had quite a few issues with opening balances and retained reserves that we had to sort out by doing journals.

[Author]

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