Consolidated accounts

Elizabeth Dodd edodd at
Sat May 5 05:57:09 EDT 2007

On Friday 04 May 2007 11:33, Brendan Simon wrote:
> I've got a number of small companies (that don't do much at the moment),
> a couple of investment properties (in my name), a Family Trust with
> associated company trustee, a Self Managed Superannuation Fund and an
> associated company trustee.
> Ideally, I'd like to be able to see the accounts of each of these
> entities separately.  ie. as if they were standalone businesses, etc.
> However, I would also like to have them all consolidated, particularly
> as my some of my main transaction bank accounts are used for multiple
> entities (eg. savings and VISA is used for personal, properties and for
> paying fees for companies, etc).
 In au, you would not do this, as the accounts must be handled separately.
so I buy a business item on visa and mark it expense:business
in the business accounts i have a 'loan from self' account and i have to enter 
the transaction here as well. 
the transactions are not identical, so I wouldn't save time your way, as only 
in the business do i account for the tax involved.
I'd ask your accountant how they wish to have the accounts presented.

You are only young once, but you can stay immature indefinitely.

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