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Bookkeeping with Multiple Entities  

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(@courtney-7)
Joined: 1 month ago
Posts: 2
30/06/2020 5:23 pm  

I work with a small retail company with multiple locations. Each location is it's own entity with it's own books. The stores transfer inventory across all locations all the time multiple times a day. How do I keep track of all these transfers? Is there a better way than creating journal entries on each entity? This is very time consuming (boring) and feels wrong. The journal entries are essentially blank, there's an amount and a date.. not very helpful if I ever needed to go back and prove my work.

Does anyone have any experience bookkeeping for small chain stores? Or a warehouse? 


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(@casey-4)
Joined: 9 months ago
Posts: 106
30/06/2020 5:51 pm  

First, are they TRULY their own entity, with separate EIN #'s???  If not, they should all be in the same QB file.  AND, i would say getting the Enterprise edition (if you are using QB), would be a help with this.  

If they are truly separate entities, with separate EIN #'s, i don't have a good recommendation....sounds like a real PITA to me!


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(@courtney-7)
Joined: 1 month ago
Posts: 2
01/07/2020 11:16 am  

@casey-4 Yes, they are truly their own entities with their own EINs. Any help would be appreciated 


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(@casey-4)
Joined: 9 months ago
Posts: 106
01/07/2020 2:41 pm  

Do you track inventory in the QB file?  If so, i have no idea how to make it easier.  if not, then i would simply do a periodic inventory AJE's.


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