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.

You can consolidate any number of subsidiary companies into a single consolidated parent company. The subsidiary companies can be from any edition of Sage Simply Accounting, but they must all be upgraded to the same version as the parent company. All of the subsidiary companies' accounts also need to be mapped to the parent company's during consolidation.

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.

Notes:

Each company must have a unique company name and file name, and all companies must have the date range for their fiscal year.

What do you want to do?

Create a consolidated company

Print a consolidated company balance sheet

Print a comparative company balance sheet

Print a consolidated company income statement

Print a comparative company income statement

Print a consolidated company trial balance

Print a comparative company trial balance

Print a consolidated company statement of cash flows

Add or delete a subsidiary company

Modify account mapping

Update a consolidated company