Transactions between Mgmt Co. and Holding Co.

LindexLindex Member Posts: 3

I have 2 companies, Mgmt Co. and Holding Co. All properties are under the Holding Co. and the Mgmt Co. manages it by collecting rental income on behalf of Holding Co., which means we doesn't want the tenant to know the Holding Co. name for liability issues, and only wanted them to know the Mgmt Co. name. How do I set up the recurring invoice that shows the Mgmt Co. name but wanted the income to be recorded on the Holding co.? Is there a flow through method, or is there a way to edit the Company Name on the Invoice?

Comments

  • MikegMikeg Member Posts: 590 ✭✭✭

    @Lindex,
    If you have 2 separate legal entities, then Hold Co cannot record the income of Mgmt Co unless Hold Co bills Mgmt Co. You would need to set up interco billing and transfer payments. If however, this is a parent subsidiary relationship then you would not need two profiles and just name the one you are using Mgmt Co. When you report tax information just be sure activity for both entities are shown. Meaning since for tax purposes they are just one entity.

  • LindexLindex Member Posts: 3

    Thanks! Is there a way to create a subsidiary at Wave?

  • MikegMikeg Member Posts: 590 ✭✭✭

    Not that I'm aware of.

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