Consolidated Companies and Financials

I’m resurrecting something done long ago, so just thought I’d explain it, so others know it can be done.  We have a situation that’s somewhat common, in that a jobber has two companies on the system that are legally separated, for now, but are sometimes seen by ownership as one.  The issue is how to present both on one set of financials.

What we do is set up a third company as a sort of GL-only company whose files are rebuilt as part of the Financial Prep process in the General Ledger Menu.  A chart of accounts is built from two or more source companies.  The transactions are merged, the buckets recalculated.  Setups for divisions and areas are merged, and so forth.  The control file is set to be the same date as one of the source companies.

This only works when the source charts are structured the same, with the same root accounts and divisions and areas that are planned in advance to control whether they sum or stand apart.  Identical accounts are summed, unique accounts slide into place, and roll-up accounts have more to do.

The end result: a Balance Sheet or Income Statement can be run that combines the numbers from two or more companies.

 

Bill  Smallwood