Hello, I have posted a question but no one answered So it probably can't be done.
By mistake I opened a company and in chart of accounts I put 2 bank accounts the company has 2 bank accounts) . Now my CPA tells me they had to be on 2 separate company files. If I cant separate the 2 bank accounts (under one file) can I at least produce separate P&L and balance sheet report for each one. Thank you in Advance
No, life sucks doesn't it.
Is this 2 separate companies or just 2 bank accounts for the same company?
If this is 2 separate companies, ie 2 EINs, then you do need separate QB files.
But if this is 2 bank accounts for a single company then go back to the CPA and have him/her justify the need for 2 separate QB files because this does not make any sense to me.
Why in the world would you entertain the idea that the company's CPA is not knowledgable about the needs of his/her client?
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Because I have seen it happen many times myself.
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