[Google Analytics +] Controlling sub domains within multisite?

Does the Analytics + plugin only work correctly if each sub domain within a multisite install has its own GA tracking code based off its property in Google. Rather than sub domain views within a specific property?

As in we have an account then within that we have properties & apps (with the UA-code) which are the multisite installs and those have 'views' with a code within for their sub domains, but they are not tracking individual views/sites.