If you have one company, which wholly owns three other entities (say an S Corp that owns three LLCs)…. What would be the best way to manage that in ZohoBooks? Ideally, you would want to be able to run balance sheet, P & L, etc.... for the entire enterprise (S Corp and wholly owned LLCs), but also be able to see everything on its own individual entity level basis. In QB there is a "locations" or "business" function that can be turned on. That can be used in addition to "classes" function and it seems to achieve this. In ZohoBooks, it looks like there are "tags", which operate similar to classes. But I don't see an additional way to classify each entity inside of one of what ZohoBooks calls "Organizations". I'm thinking the only way manage multiple entities is create each one as a separate Organization (which might include an additional purchase as only one Org comes with ZohoBooks) and them pull them all into Zoho Analytics. Does that seem correct way to approach?
Hi RiverRealty! Yes, your idea of operating separate Organizations for each Entity in Books, then combining them in Zoho Analytics is how we'd approach this. You can get away (to some extent) with using Tags in a single Books Organization for each Entity. But, this can get messy very quickly.
On the Finance Overview Dashboard, the Financial Overview Report is in Accrual Basis, is there a way to change it showing Cash Basis Accounting method?
Curious if you can use Zoho Analytics to create custom P&L dashboards and analysis similar to things like ReachReporting. I don't see that analytics can pull data from P&Ls from Books.
Hi Kai - This is technically possible in Analytics, but it is a tricky build. Analytics will pull all of the Journal entry data required for the P&L, but you'll need to write SQL queries to put the data together properly in Analytics. We have a template guide for this here: zenatta.com/how-do-i-create-a-pl-statement-report/
If you have one company, which wholly owns three other entities (say an S Corp that owns three LLCs)…. What would be the best way to manage that in ZohoBooks? Ideally, you would want to be able to run balance sheet, P & L, etc.... for the entire enterprise (S Corp and wholly owned LLCs), but also be able to see everything on its own individual entity level basis. In QB there is a "locations" or "business" function that can be turned on. That can be used in addition to "classes" function and it seems to achieve this. In ZohoBooks, it looks like there are "tags", which operate similar to classes. But I don't see an additional way to classify each entity inside of one of what ZohoBooks calls "Organizations". I'm thinking the only way manage multiple entities is create each one as a separate Organization (which might include an additional purchase as only one Org comes with ZohoBooks) and them pull them all into Zoho Analytics. Does that seem correct way to approach?
Hi RiverRealty! Yes, your idea of operating separate Organizations for each Entity in Books, then combining them in Zoho Analytics is how we'd approach this.
You can get away (to some extent) with using Tags in a single Books Organization for each Entity. But, this can get messy very quickly.
@@Zenatta Thank you!
On the Finance Overview Dashboard, the Financial Overview Report is in Accrual Basis, is there a way to change it showing Cash Basis Accounting method?
Curious if you can use Zoho Analytics to create custom P&L dashboards and analysis similar to things like ReachReporting. I don't see that analytics can pull data from P&Ls from Books.
Hi Kai - This is technically possible in Analytics, but it is a tricky build. Analytics will pull all of the Journal entry data required for the P&L, but you'll need to write SQL queries to put the data together properly in Analytics. We have a template guide for this here:
zenatta.com/how-do-i-create-a-pl-statement-report/
@@Zenatta Thanks for tip!