This past December, I worked with the folks at Qvinci on presenting a thought leadership webinar on Growing Your Practice with Multi-entity Client Reporting. Please join me this Thursday, January 8, 2024, at 2:00 PM Eastern, as Charles Nagel, the founder and chief technical officer of Qvinci, and I dive deeper into the tools you can use to increase your practice's profits by providing reporting and business analytics for multi-entity clients.
Chances are, if you have QuickBooks Premier, QuickBooks Enterprise, or QuickBooks Online-Advanced clients, some of those clients are multi-entity. You could have a business that operates as an S-Corporation with a series of Limited Liability Companies acting as subsidiaries for specific purposes, like rental properties, oil & gas properties, different construction entities, or even separate funeral homes.
You might have a C-Corporation that has diversified into numerous subsidiary ventures held as S-Corporations, like independent radio stations, different 'food' product lines, or even individual chain restaurant locations.
These multi-entity businesses need to have individual and aggregated financial reporting. However, the business owners, executives, and financial officers also need to easily and quickly identify variations in performance within, among, and collectively for the business as a whole.
Without the right tools, Trusted Business Advisors, whether you be a CPA, a Bookkeeper, or a ProAdvisor, will struggle to provide the information each business type needs as quickly as they need it. The time frame to produce such reports and metrics will vary significantly based on each business's size, location, and accounting platform.
For example, it might take less time to obtain all the accounting data if a business had 9 locations across the United States than if it had 9 locations in small towns across West Texas. Why? Because you would probably think nothing about asking to remotely access their accounting platform via the
internet if they were all over the US (or the world). But a small drive-in chain where each store's manager does the local books on his home computer, you might not even be able to get remote access.
Having the right tools are critical, and the purpose of Thursday's webinar is not just to 'talk about the right tools' and the 'kinds of data' and 'appropriate reports' like we did last December but actually dive into the actual tool kit, look at actual (although simulated) data, produce vital financial reports on a consolidated basis, identify metrics that look at each' business unit' as well as the business as a whole, and point you to those areas you, as a Trusted Advisor, need to address with your clients.
This is a hands-on look at the functionality that can make the difference between profitability and going out of business. I will be there to tell you why data like this can make a difference in your client's businesses and your practice's profitability.
So please take an hour out of your busy schedule, even though tax time has begun, and join me for this important webinar at 2:00 PM Eastern this Thursday, February 8, 2024.