21- Financial Statements

Merging Two Companies Together

This was an interesting question where sometimes you need to merge 2 companies financials into one data base.

Either the Chart of Accounts can be utilized to accommodate the new company by issuing new set of account numbers.


The Project section of Sage can be used.

This tutorial will show you how to use and change the Project name to Departments so it makes more since in this instant.

at the home page drop down the Setup menu and choose Settings than Projects.


here you have three choices, Budget, Allocation and Name.

lets change the name from Projects to Departments.


press OK to Save.


Now its time to go into the Chart of Accounts and allow allocation for each appropriate account number.

department chart of accountsonce that is done you can start posting entries and allocating.

purchase with department

To obtain a report, from home page drop down Reports menu – Department – Allocation.

department report

Here is what shows up for department allocation. Click OK to see the report.

Department allocationHope this tutorial helped.

Let me know if you have any other questions.




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Error: Sub ledger does not equal Control account

so, everything is posted as a journal entry and the system should leave history mode but your getting nasty error.

Here is what it means and how you can fix it.

The AR control account # 1200 has a balance of $3879.75.

This balance needs to also reflect in the Sub-Ledger.

Drop done the File menu and select Create.

control account customers






for each customer created go into the history tab. The tab does not show here because I am no longer in history mode but yours should.

You can enter outstanding invoices or credit notes.

control account customer records







once this is done look at the customer detail report and made sure the sub-ledger total equals the control account 1200 on the balance sheet.

control account customer list







Drop down Report menu – Customer & Sales – Customer Ages.

control account customer summary







take a note of the balance in the total Colum.

Now pull up a balance sheet report.

control account balance sheet







and the two are in balance.

Once you go through this exercise and set upĀ the customer profile and add the invoices and credit notesĀ under history tab than you should be able to advance into 2016.

This must also be done for accounts payable.

Good luck.

Hope this tutorial helped.



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