I need suggestions about the use of project and division in my situation. In our business, we are providing services to different clients. The same service can be provided by different divisions for example service A can be provided by Division A & Division B.
Similarly, the same expense can be incurred by the different divisions. For example, repair & maintenance can be incurred by Division A & Division B.
So for reporting purposes, we may need division-wise P&L. On the balance sheet side, we hold some assets for Division A and Division B. For example, service item A can be held by any division. So we need to sort out the same service item/inventory division-wise. Also, the same applies to cash at the bank. We have one consolidated bank account, the receipts against sales of each division are deposited in one consolidated account. How can we maintain segregation of reporting against the bank account?
Please suggest the use of division or project in this case.
Regards
Yameen