Multicompany Consolidation
(Financial Controller only)
Use the Consolidation option in Sage Line 50 to merge the data from your separate companies to form one set of financial accounts that represents the group as a whole. You can select which companies you want to include and once consolidated, print out all the financial reports Sage Line 50 provides.
Note: You must not consolidate companies that have different base currencies.
When the process of consolidation is run, the balance of each nominal account code from each of your selected companies is posted to a parent company.
Your parent company should be used solely to consolidate the accounts of other companies because when consolidation is run, this parent companyÆs accounts are cleared, ready to accept the new group data. In order to run the consolidation successfully, the following should be taken into account:
The company from which the consolidation is run must be the parent company and you may need to amend the default chart of accounts layout if you need to create one more suitable for the consolidation.
The parent companyÆs nominal account balances (if any) will be overwritten with data from the consolidating companies.
Any nominal accounts in the consolidating companies not present in the parent company will be created.
We recommend you create a company specifically for your consolidation, e.g. called parent and make sure it is labelled clearly, with either the name you give to the company or with the icon name, because each time consolidation is run, all data is deleted from this parent company.
Before you consolidate, you should prepare each separate companyÆs data for the month end and run the financial reports for each.
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