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Quickbooks Online- Transferring Funds between Entities
In this episode, Nick Baldo dives into managing multiple business entities in QuickBooks. He discusses the benefits of unified management, the downsides of the transfer function, and how to utilize journal entries for intercompany transactions. He also covers balance sheet adjustments, setting up intercompany loan accounts, and common challenges faced. The episode concludes with a word from our sponsor, Real Estate Accounting Boot Camp.
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse (Enter Code YOUTUBE50 for $50 off!)
End to End Podio Training: https://www.incomedigs.com/pcc
Check out our Podio Templates: https://bit.ly/3pE4DBt
Download our guide: https://www.incomedigs.com/qbosetupguide
Link to Related Video:
Quickbooks Online: How to Manage Multiple Businesses within one Subscription - https://bit.ly/3pEAulp
Multiple Businesses in one QBO Plus Subscription!!! Such a game-changer! But there's a catch..you MUST be careful with inter-company transactions. Watch this video and you'll be all set!
(0:00) Introduction to the episode
(0:12) Managing Multiple Business Entities in QuickBooks
(0:50) Benefits of Unified QuickBooks Management for Multiple Businesses
(3:28) The Downside of QuickBooks Transfer Function
(4:17) Utilizing Journal Entries for Intercompany Transactions
(6:45) Balance Sheet Adjustments for Multiple Businesses
(7:34) Setting Up an Intercompany Loan Account
(10:12) Common Challenges in QuickBooks for Multiple Entities
(10:47) Sponsor: Real Estate Accounting Boot Camp
(11:22) Closing Remarks and Future Topics
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By Nick BaldoIn this episode, Nick Baldo dives into managing multiple business entities in QuickBooks. He discusses the benefits of unified management, the downsides of the transfer function, and how to utilize journal entries for intercompany transactions. He also covers balance sheet adjustments, setting up intercompany loan accounts, and common challenges faced. The episode concludes with a word from our sponsor, Real Estate Accounting Boot Camp.
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse (Enter Code YOUTUBE50 for $50 off!)
End to End Podio Training: https://www.incomedigs.com/pcc
Check out our Podio Templates: https://bit.ly/3pE4DBt
Download our guide: https://www.incomedigs.com/qbosetupguide
Link to Related Video:
Quickbooks Online: How to Manage Multiple Businesses within one Subscription - https://bit.ly/3pEAulp
Multiple Businesses in one QBO Plus Subscription!!! Such a game-changer! But there's a catch..you MUST be careful with inter-company transactions. Watch this video and you'll be all set!
(0:00) Introduction to the episode
(0:12) Managing Multiple Business Entities in QuickBooks
(0:50) Benefits of Unified QuickBooks Management for Multiple Businesses
(3:28) The Downside of QuickBooks Transfer Function
(4:17) Utilizing Journal Entries for Intercompany Transactions
(6:45) Balance Sheet Adjustments for Multiple Businesses
(7:34) Setting Up an Intercompany Loan Account
(10:12) Common Challenges in QuickBooks for Multiple Entities
(10:47) Sponsor: Real Estate Accounting Boot Camp
(11:22) Closing Remarks and Future Topics