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Hello everybody !!
I appointed as an Accountant in a trading company with four branches in the same market with some distance. In this, 3 branches are depend on the main branch (HO).
Now the management wants to maintain accounts & inventory for all the branches and monthly individual financial statements as well as consolidated statements.
Can anybody help me regarding this type of set up and maintenance of accounts for the company.
Thanking You

From India, Hyderabad
Since you have the Headoffice, all the stocks from the headoffice should be transferred to the branch at the cost. so you can check the profitability of the branch. The expenses in the branches should be settled from the branch iteself(for ex: Rent, Salary, stationaries, staff welfare etc.)
In this method you can make the accounts and the only thing is that the balance sheet will be consolidated.
Thanks & regards

From India, Chennai
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