Companies and sub-companies

Feature Request
1

Will there ever be an option on QuickFile to place a company under another company?

E.g.

Company 123
     Sub-co 123
     Company XYZ
2

http://community.quickfile.co.uk/t/custom-trading-styles/8831

3

No, sorry I didn’t mean different trading brands for our company. I mean for our customers. So if one of our customers had multiple customers under them. When will this be possible?

4

Are you simply wanting to be able to invoice 3 different companies but have a single log on for the client to manage them from, or are you looking for something more involved?

5

So basically some companies resell our products which means they have different companies underneath them. We will bill the reseller for everything but it would be good if we could show it split to different companies. If that makes sense.

Cheers

6

Have a read through this thread, there’s a couple of ways of adding references to the invoices for site/sub client details.

http://community.quickfile.co.uk/t/re-line-for-invoices/4355

7

Hi. Our company operates 3 different sites or sub-companies. As well as company Profit & Loss I have to prepare monthly P&L for each site. Currently I run overall P&L account each month for entire company and then split revenue and cost manually between each site (sub-company). It will save a great deal of time for me if I can allocate revenue/cost to specific site when transaction is originally recorded. We already have Power User Subscription. So please please let me know if there is any way for me to produce P&L for each site as well as P&L for the whole company. Thank you

8

@olga, there is now a feature to support multiple trading styles (different invoice set up and logos etc). However, if they’re different companies (regardless if they’re part of the same parent company), I believe their accounts should all be separate.

9

It would be difficult for us to keep accounts separately. For example, we have only one business bank account, the balance sheet is difficult to separate and also issues with reporting and tax calculation.
Will you consider in any future development to introduce comprehensive coding? such as allocating cost/revenue to the unit/site/sub-company first and then selecting p&l code. So P&L could be produced for each site as well as the whole company. Regards

10

Can you achieve this with project tags, tagging each sales and purchase invoice with a “project” tag for the sub-company it belongs to?

2 Likes
11

I think what @ian_roberts would work best. I’m assuming then as you only use one bank account that when you say ‘sub-company’, they’re not actually registered with Companies House individually, but more of a department within one company?

1 Like
12

That is interesting. I’ll try it. thank you very much for your advice

13

Yes I suppose you could say that it is more of a department within one company. We are running several restaurants/public houses trading within one company. I have to produce individual p&l for each site to keep control and assess profitability in case we decide to sell one of them. I’ll try ‘project’ tag.