How to Set Up a Master Consolidation Company in Sage BusinessWorks

Create a Master Company in Sage BusinessWorks for Consolidated Reporting.

A master consolidation company is used for multi-company financial statements and cannot and should not be used for any other purpose than consolidating your subsidiary companies. Consolidation companies let you print multi-company financial statements. While still maintaining separate accounting records for each of your businesses.

You should not post transactions directly into a master consolidation company. You may already have your separate companies created in your Sage BusinessWorks.

If not, you need to create each of your separate companies first. These companies will be your subsidiary companies.

The chart of accounts in each of your subsidiary companies must be the same. Also, the current open month must be the same in each of your subsidiary companies before you combine into your master company.

Set up your master consolidation company in Sage BusinessWorks:

• Utilities > Maintain Companies.

• Click OK to acknowledge this is an exclusive option (i.e. NO ONE ELSE may be in BusinessWorks at the time you do this).

• Click on the new button.

• Enter a Company ID and Name and click SAVE.

• Type ‘CREATE’ then select OK.

• Select your Master Company.

Create the GL Data Files: 

• GL > Utilities > Create G/L Data Files

Note: A master consolidation company is for financials only so only GL data files need to be created.

• Set the current open month and length of time to maintain Journal Detail and Summary History. Check the box to indicate this is going to be a master consolidation company.

Note: A master consolidation company should only be used to print financial reports for subsidiary companies. Master consolidation companies should not be used to post transactions or for any purpose other than the multi-company consolidation.

• Type ‘CREATE’ then select OK.

Select subsidiary companies: 

• GL > Transfer > Multi-Company Consolidation.

• Click OK.

• Subsidiary Company List Tab > Select Subsidiary Companies.

• Build Chart of Accounts Tab > Check ‘Erase current Chart of Accounts’ and ‘Include non-posting accounts’ > Build Master Chart of Accounts.

Note: It’s always a good idea to go ahead and erase the current chart of accounts that exists in your master company in case you’ve added, renumbered, any of your accounts from one of your subsidiary companies will erase what’s already been built into the master company and then recreate a new chart of accounts.

• Click OK.

• Consolidate Tab > Import Subsidiary Company Balances.

• Click OK.

• Close Multi-Company Consolidation.
• GL > Reports > Income Statement > Standard.

• Click Preview.

If you have questions or need assistance with your Sage BusinessWorks software at any time, please contact our BusinessWorks support team at 260.423.2414.

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