Many small business owners dabble in multiple businesses. Also people who own rental property have multiple entities. Being able to have separate accounting for all of them, in one set of books would be very useful. This would make transferring funds from one to another easier, It would make reporting easier, and it would make budgeting easier.
It would also be good to have the ability to have different ownership structures for different companies. Say you own 20% of one company and 100% of another. Then 20% of the profit and loss for the one company will hit your tax return and 100% of the other will.
Many small business owners dabble in multiple businesses. Also people who own rental property have multiple entities. Being able to have separate accounting for all of them, in one set of books would be very useful. This would make transferring funds from one to another easier, It would make reporting easier, and it would make budgeting easier.
It would also be good to have the ability to have different ownership structures for different companies. Say you own 20% of one company and 100% of another. Then 20% of the profit and loss for the one company will hit your tax return and 100% of the other will.