MYOB - Managing Multiple Entities in One
Hello, is there a way to manage multiple business entities in one subscription? I have 5 rental properties, only transactions are rent received & some outgoings. No payroll & very simple. Cheers
Forum Discussion
Greg A has given good solutions. You have said you have 5 rental properties but that doesn't mean they are all separate entities with their own ABN. You also have said they are simple so it seems they are residential (No GST applicable) rather than commercial (GST applicable) so reporting would be covered by Greg A's suggestions.
If commercial, you could still use one of Greg A's solutions but also setup new Tax codes and accounts (categories) for each property e.g. MGS with account code 2-1300 GST Collected Mosman property, 2-1310 GST Paid Mosman property. This would make separate BAS's easier.
Cheers
Liz
