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Has anybody ever had to run full financial statements across a classification or project (within the same subsidiary)? IIRC it's possible but you have to create your own trial balance and there's some gotchas around retained earnings. Would love to hear any advice or pitfalls I should be aware of.

If you're using the segments in place of subsidiaries - it's probably a mistake.

However, I pretty regularly run income/balance sheet by class - knowing that things like accrued purchases, AR, AP, cash, and other transactions don't work well unless you do some kind of entry to allocate, which to me isn't worth the rub.

yeah, it's pretty bass-ackwards, I agree, but you'd be surprised the number of companies I've seen that do it anyway just to not have to re-engineer their integrations and connected systems to handle the addition of subsidiaries, especially when operationally the company is just one company and the extra sub is just for tax/auditing/compliance/other legal reasons.

fortunately in this instance, I finally managed to convince them to use subsidiaries.  Appreciate your insight!