Finance software for umbrella company and sub-companies

  • Thread starter Thread starter jamesbaldock
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jamesbaldock

Hello everyone,

I was wondering if someone might have some recommendations on finance software that might meet our needs.

We have an 'umbrella' company, let's call it 'ABC'.

'Under' that we have a few other companies all of which are individual entities with their own name, branding, web site etc. No one would know that there is any connection between them.

Currently we are using QuickFile for accounting with one QuickFile account set up for each business.

What I was hoping is that there is another piece of software out there that would allow us to set up everything - all of our companies - under one master account whilst maintaining the individuality of each business i.e. customised invoices for each business, customised reminder e-mails etc.

To add to the complication, all of the businesses are completely separate apart from the fact that they share a bank account so ideally we would like software that would import the bank feed then automatically mark off payments for each business.

We can import bank feeds into each QuickFile account but because we have so many businesses sharing the same account, with each import, most entries are not relevant to that business. QuickFile also charge for bank feed imports on a per QuickFile account basis.

If we could have a piece of software that imported the bank feed into the umbrella company and then distributed the payments into the relevant businesses, that would be great.

A complicated one I know but if anyone else is in a similar situation and has found a solution, I'd be pleased to hear from them!

Kind regards


James
 
If you are using accounting software you can set up the chart of accounts to have different accounts codes for each business or to have separate departments. Invoicing might be difficult. You might need to have a stand alone invoicing system

No one would know that there is any connection between them

You need to disclose the company name on all business correspondence.
 
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