Available in Sage 50 Premium Accounting and higher.
Consolidated Companies
When one company owns one or more companies or is owned by another company (a parent company), generally accepted accounting principles (GAAP) require that all financial records (from subsidiary companies) be merged or “consolidated” into a single statement for reporting purposes, usually at the end of each fiscal year.
When should I consolidate?
To ensure that you generate accurate reports, consolidate your companies at year-end. If you require reports more frequently, you can update your records on a monthly or quarterly basis.
What kind of reports can I generate?
Comparative Subsidiary reports (Balance Sheet, Income Statement, Trial Balance) and the Transactions By Account report provide financial details about the parent company and about each subsidiary company in relation to the consolidated parent company. The Transaction Details report provides financial details on all company transactions, or transactions for the parent company, a subsidiary company, or the consolidated parent.
The Statement of Cash Flows report provides a consolidated view of cash inflows (where your money came from), and cash outflows (where your money went) over a certain period of time. The report is divided into operating, investing, and financing sections for easy analysis.
Note: Each company must have a unique company name and file name, and all companies must have the date range for their fiscal year.