Fwd: Multi-company accounting - shared account

[Derek Atkins]

Hi,

Conor McGarry <conormcgarry at gmail.com> writes:

> Hi Derek
>
> Ideally, each company should have its own file.  My original request was to
> somehow link these.

Yeah, unfortunately there isn't a great way to do that.

> Company Law in Ireland requires a company to maintain sufficient records of
> each transaction so that it can provide a P&L, Balance Sheet and Cash Flow
> Statement and comply with FRS accounting standards.

Probably true.

> If all the companies' bookkeeping was kept within the same file, I doubt that
> I would be in breach of any laws.

I would still ask a lawyer or tax accountant about it, just to
be sure.

> If a company were to be transferred out of our group, it wouldn't matter too
> much as this wouldn't likely happen often, and it would be a once off event
> for that company.  Reconciling intercompany transactions is an everyday
> event.  If a company were to leave our group, it would essentially be just a
> case of exporting that company's sub-accounts from the "group" GnuCash file
> into an Excel file for the new bookkeepers.

Unfortunately there's not a good way to just export the
company sub-accounts..

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
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