Consolidated reporting

If your organisation is made up of several subsidiary companies, you can use consolidation in Sage 200 to produce management reports at the parent company level.

If you're a multi academy trust, you can use consolidation in Sage 200 to create reports at trust level, such as the SOFA report, that include the required financial information for all the schools within the trust.

How it works

• The consolidation is run from each subsidiary companyschool.
• Each nominal account (Code, CC and Dept) in the subsidiary companyschool is linked to a nominal account in the parent companyreporting company.
• The balance of all nominal accounts, at the end of a selected period, is transferred from each subsidiary to the parent companyreporting company. This is posted as a single consolidation transaction in the parent companyreporting company.
• The balance of each nominal account in the subsidiary is posted to the linked nominal account in the parent companyreporting company.
• The value of the consolidation transaction is the difference between the actual trial balance in the subsidiary, at the end of the selected period, and the trial balance the last time the consolidation was run.

Requirements

• The parent companyreporting company should only be used for reporting on consolidated balances, grouped together from a number of subsidiaries. The parent companyreporting company should not be used for trading, i.e. transactions should not be entered into the parent companyreporting company directly.

• The parent and all subsidiaries must have the same base currency.

• The parent and all subsidiaries should all have the same chart of accounts.

  This includes the same cost centre, department, and report category and SOFA category.

• The parent and subsidiaries should have the same accounting periods.

  Note - warning

  Nominal account balances are passed to the parent by accounting period. If the accounting periods are different in the parent and subsidiary companies, this could lead to discrepancies in the your financial reports.

• If the only consolidated report that you need to run from your parent companyreporting company is an annual management report, such as the SOFA report, then we recommend that you only run the consolidation once a year, at the year end.

  Just consolidating the balances once a year makes errors less likely.

  This is because:

  • All transactions should be posted to the correct accounts in your subsidiaries by the end of the year.
  • It'll be easier to check that any new nominal accounts that have been added to a subsidiary companyschool are linked correctly.
  • If mistakes are made, you only need to correct them for one period rather than 12.

Consolidating to more than one parent

When consolidating, the parent should only be used for reporting purposes. If you want to consolidate to more than one parent, then you'll need a Sage 200 company for each parent.

What do you want to do?

Set up consolidation

Run consolidation