Multiple site profit and loss

karsrimkarsrim Member Posts: 1

I am a day nursery owner in UK. We are expanding by acquiring a day nursery. Is it possible to record revenue and expenses by site so that I can see the profit and loss for the sites separately. Both the sites are under the same company and bank accounts. Thanks

Comments

  • CharlotteCharlotte Member Posts: 695 admin

    Hi @karsrim thanks for your question! In Wave, it's possible to manage multiple business profiles (from the left menu, click your business name, and choose Create a new business to add one) where you'd then have the ability to create separate CoAs and generate reports for those sites. In this case, you'd need to export and consolidate in Excel or Sheets if you needed to report on them together. You could also operate with one business profile and name your accounts for each site to view them, but your P&L would be inclusive of everything in that profile.

    In either case, I'd recommend discussing with an accountant or bookkeeper familiar with any specific tax implications or other compliance information. It may not be advisable to run these as two unique businesses in Wave, and I wouldn't want to steer you along the wrong path. If you don't have a contact, you're always welcome to share your details here or in our Pro Network, where we can do our best to help connect you with someone in your area.

    edited February 13, 2019
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