Available in Sage 50 Premium Accounting and higher.
The New Company Setup process allows you to combine the charts of accounts of a number of existing Sage 50 companies to create a new consolidated chart of accounts. This results in a consolidated company embodying one or more subsidiary companies. Tell me about the company consolidation process.
In order for subsidiary companies to be consolidated, they must be compatible in certain ways with the parent company that will include them and with the other subsidiary companies that will make up the consolidation. Before you consolidate, you should be sure that all of the subcompanies you want to include in your consolidation meet these conditions:
Also, before you begin consolidating, you should note any subsidiary companies you want to add that require user passwords and IDs for access to financial statements. During consolidation, you will be asked to enter those passwords and IDs, so have them handy beforehand.
If you make sure that your desired subsidiary companies meet these conditions, the company consolidation process should go smoothly.
Reconsolidating a company involves changing the roster of subsidiary companies that make up the consolidation, either by removing or adding companies. Since in this case the consolidated company already exists, you must be sure that all subcompanies meet certain conditions of the consolidated company you want to add them to. These conditions are pretty much the same discussed in the bullet points above. That is, all subcompanies you want to add must match the existing consolidated company in the following ways:
As with company consolidation, during the reconsolidation process you will be asked to enter user passwords and IDs for all subsidiary companies that require them for financial statement access.