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<p>1 revision imported</p> <p><b>New page</b></p><div>==Background==<br /> This discussion of intercompany handling is meant to cover the situation where one core owner is running multiple reltated companies - typically on one system and with overlapping transactions and interaction between the companies. The different companies may be referred to as Divisions or Entities. <br /> <br /> One of the key characteristics of a InterCompany situation, is when each company files taxes under a separate Federal Tax ID.<br /> <br /> <br /> ==Issues==<br /> <br /> *Each Company must maintain a separate Balance Sheet (that balances)<br /> *Each Company must be able to file Payroll taxes separately.<br /> *When running consolidated financial statements, intercompany transactions should not be included.</div>

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