This feature is available in Sage 50 Accounts Professional and Sage 50 Accounts Client Manager. Are you using Remote Data Access? While your data syncs with Remote Data Access, you can't use the consolidation option. As a workaround, you can remove all companies from Remote Data Access, consolidate your data, then upload your data again.
What Consolidation does 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
The bucket values for each nominal code populate in the parent company. This includes Actuals, Budgets, and Prior Year bucket values - A journal posts to the parent company for the total on each nominal code
The following limitations apply: - You can't consolidate companies when using 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 post for 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
- Ensure that the nominal code ranges are the same. For example, if you use the 4000 range for sales, ensure this is the same in both companies. If they aren't the same, your financial reports can be incorrect
 NOTE: To consolidate, you must have an unused company available in which to consolidate. For example, if you want to consolidate three companies, you need at least a four-company licence.
Prepare the companies to be consolidated Consolidation usually happens at month end or the year end. Ensure that you've posted all required transactions and that you've completed any month-end processes.
▼ Create a company. The parent company consolidates the accounts of other companies. Before consolidating, you must follow the steps below, which will consolidate both nominal structures into the new parent company. Bringing through any chart of accounts across. Create a new company. - Click File, then click New, then click Company.
- Click Create, then click Continue.
- Enter a Company Name, then click Next and Next again.
- Select the Financial Year start date so that it matches the start date of the companies to be consolidated.
- Click Next.
- Enter a Standard VAT rate, then click Next.
- Select the Base currency so that it matches the companies to be consolidated, then click Next.
- Complete the Password screen, and click Next.
- Click Create.
▼ Prepare the parent company. The parent company consolidates the accounts of other companies. Before consolidating, you must: 1. Rebuild the data - Back up your data.
- Click File then click Maintenance and confirm Yes to close any open windows.
- Click Rebuild.
- Select the Keep my Nominal Account records and Keep my chart of accounts checkboxes.
- Click OK the click Yes.
- Click OK then Close.
2. Ensure the parent company has the same financial year and base currency Ensure the financial year start date and base currency of the consolidated companies is the same.
Consolidate the companies - Open the parent company.
- Click Tools , then click Period End and click Consolidation.
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Select the companies for consolidation, then click Consolidate and confirm by clicking Yes. NOTE: After consolidating, you can have warnings in the data regarding the aged balances. This is normal, and you can ignore them 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.
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