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How to set up a Master Consolidation company

Created on  | Last modified on 

Summary

A Master Company is where you can merge multiple companies into one Master Company for General Ledger reporting purposes in Sage BusinessWorks.

Description

Combining financial reports for multiple companies can be achieved by using the Multi-Company Consolidation option in Sage BusinessWorks.

  • This feature is for reporting purposes only
  • Post all transactions in the individual or subsidiary companies instead of the consolidation company
  • Each subsidiary's chart of accounts must use the same account type and class for account numbers
  • Individual companies can have additional accounts, but those account numbers must not differ in account type or class in other companies within the consolidation

Resolution

Watch the video

Watch this short video on how to set up a Master Consolidation company.

Follow the steps to set up a Master Consolidation company

If you prefer to follow step-by step guidance, use the steps below.

  1. Create the company by selecting Utilities (on the Launcher), Maintain Companies, New.
  2. Create GL data files by selecting GL, Utilities, Create G/L Data Files.
  3. Click OK on 'Initial Chart of Accounts from'.
  4. Select Another Company and select one of the subsidiary companies from the Company/Sample ID drop down list.
  5. Select Master Consolidation company.
  6. Define the setting selections in this window.
  7. Click OK and OK.
  8. Type the word CREATE and click OK.
  9. Select GL, Transfer, Multi-Company Consolidation.
  10. Click OK and define a list of companies in Subsidiary Company List.
  11. Select the Build Chart of Accounts tab, make selections, and click Build Master Chart of Accounts.
  12. Click the Consolidate tab and select Import Subsidiary Company Balances. 
     NOTE:     Import each time you use the Master Consolidation company to transfer current account balances from subsidiary companies.
  13. Save.
  14. Use the Reports menu to print the combined financial reports from the master consolidation company.

 NOTE: When you add new accounts to subsidiary companies, rerun the Build Chart of Accounts option from GL, Transfer, Multi-Company Consolidation. This will update the master consolidation company chart of accounts.

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