This feature is available in Sage 50 Accounts Professional and Sage 50 Accounts Client Manager.
While your data is linked with Remote Data Access you can't use the consilidation option. As a workaround, you can remove all companies from Remote Data Access, consolidate your data, then upload your data again.
When you run the Consolidation option, the following processes occur:
- Any nominal codes that don't exist in the parent company are created
- Sage Accounts looks at the monthly buckets for every nominal code in each of the companies to be consolidated.
The bucket values are totalled for each nominal code and populated in the parent company. This includes Actuals, Budgets and Prior Year bucket values - A journal is posted in the parent company for the total on each nominal code
There are some limitations around what can be consolidated - View limitations >
The following limitations apply:
- You can't consolidate companies when using Sage Remote Data Access
- You can't consolidate companies with different base currencies
- You can't consolidate companies with different financial year start dates
- Departmental budget information isn't consolidated
- Customer and supplier information isn't consolidated
- Chart of Accounts isn't consolidated
- Because journals are posted for only the totals, you can't run transactional or drillable management reports
- You can't specify a date, it automatically consolidates the values as they stand at the time you consolidate
- You should ensure that the nominal code ranges are the same. For example, if you use the 4000 range for sales you should ensure this is the same in both companies. If they aren't the same your financial reports may be incorrect
NOTE: To consolidate, you must have an unused company available in which to consolidate. For example, if you want to consolidate 3 companies you need at least a 4 company licence.
[BCB:124:Sage Intacct:ECB]
Prepare the companies to be consolidated
Consolidation is usually performed at month end or year end. You should ensure that all required transactions have been posted and that any month end routines have been run.
NOTE: You should ensure that the nominal code ranges are the same, as the chart of accounts aren't copied to the new parent company.
For example, if you use the 4000 range for sales you should ensure this is the same in both companies. If they aren't the same your financial reports may be incorrect.
Prepare the parent company
The parent company is only used to consolidate the accounts of other companies. Before consolidating, you must:
1. Rebuild the data
- Click File then click Maintenance and confirm Yes to close any open windows.
- Click Rebuild.
- Select Keep my Nominal Account records and Keep my Chart Of Accounts check boxes.
- Click OK the click Yes.
- Click OK then Close.
2. Ensure the parent company has the same financial year and base currency
Make sure the finacial year start date and base currency is the same as the companies to be consolidated.
Consolidate the companies
- Open the parent company.
- Click Tools then click Period End and click Consolidation.
- Select the companies to be consolidated then click Consolidate and click Yes.
NOTE: After consolidating you may have warnings in the data regarding the aged balances. This is normal and can be ignored as there are balances on the nominal codes but no invoice transactions.
Once the consolidation is complete, you can post any required adjustments then print the required management reports.
[BCB:259:UKI - Personal content block - Anth:ECB][BCB:191:UKI - #GetMoreFeedback:ECB]