If you're looking for a way to generate consolidated reports for multiple businesses, here's a method which might work for you.

Although many businesses use Jobs in their MYOB software to maintain accounts for separate shop fronts or business divisions, others might have several businesses and choose to run more than one company file.

One way to consolidate reports from multiple company files is to export reports from each company file into Excel and format the report however you like.

Another method to consolidate reports is to create a \"Master\" company file into which you can import your accounts list and transaction journals. In this way, you can print the Balance Sheet, Profit and Loss statement and many other reports from multiple businesses from a single company file.

This article is provided for guidance only, and might not be suitable for your business requirements. If you need clarification or additional information, check with your accounting advisor or post your question below.

A note about account numbers

In the example below the consolidated company file is referred to as Master, and the businesses whose results are being combined are referred to as Business 1 and Business 2.

The procedure will import all accounts from each business - they can each have a different chart of accounts, but it's worth designing account numbers carefully, as this will affect the consolidated results.

For example, if you want Advertising Expense from each business to appear as a single line in the consolidated file, then make sure that Advertising Expense has the same account number in each separate company file used to create the consolidated company file.

Alternatively, if you want the cheque account for Business 1 to show separately from the cheque account in Business 2, make sure that these accounts have unique numbers.

Task 1 - Create the Master company file

For more information on creating company files, press F1 while using your software to view the help for your version. If you're using AccountRight, see Create a company file.

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1. Go to the File menu and choose New to create a new company file.
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2. Name this file Master.
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3. At the Accounts List option, choose to Build your own list.
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Task 2 - Export the accounts

For more information on exporting, press F1 while using your software to view the help for your version. If you're using AccountRight, see Exporting data.

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1. Open up Business 1.
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2. Go to the File menu and choose Export Data then choose Accounts.
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3. Click in the Export Order column against every field except the Balance field.
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4. Click Export and name this file account1.txt. This exports the chart of accounts (not the transactions) for Business 1.
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5. Complete the same procedure for Business 2, except name the export file account2.txt.
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6. Repeat this step for any other company files to be included in the consolidated (master) file.
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Task 3 - Import the accounts

For more information on importing, press F1 while using your software to view the help for your version. If you're using AccountRight, see Importing data.

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1. Open the Master company file.
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2. Go to the File menu and choose Import Data.
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3. Select Update Existing Record and open up account1.txt.
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4. Match the import fields and click Import.
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5. Complete the same procedure (as above) for accounts2.txt.
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6. Repeat for any other account files to be included in the consolidated file.
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Task 4 - Enter the opening balance sheet figures

In the Master company file, go to the Setup menu and choose Balances then choose Account Opening Balances. Now enter the Opening Balance Sheet figures for the consolidated file.

This establishes a master template for consolidated reporting. If you want to consolidate accounts regularly or more than once a year, go into Windows Explorer or your Macintosh Desktop and make a duplicate copy of this file for future use.

Task 5 - Export the journals

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1. Open up Business 1.
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2. Go to the File menu and choose Export Data then choose Transaction Journal Entries.
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3. Change the Source Journal to All and select a suitable date range.
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4. Click Match All, then Export and name this file journal1.txt.
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5. Complete the above procedure for Business 2, except name the export file journal2.txt.
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6. Repeat for any other company files to be included in the consolidated reports.
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Task 6 - Import the journals

\n
1. Open the Master company file.
\n
2. Go to the File menu and choose Import Data then choose Transaction Journal Entries.
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3. Select the journal1.txt file.
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4. Click Match All and then Import.
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5. Complete the same procedure (as above) for journal2.txt.
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6. Repeat for any other journal files to be included in the consolidated reports.
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Note: The year-end adjustment journal is unable to be imported as you are unable to post directly to your current earnings account. As the journals you are importing would affect income and expense accounts, your current earnings will automatically update.

The import is now complete!

After completing the tasks above, all transactions from the separate company files will be in the consolidated company file enabling consolidated Profit & Loss and Balance Sheet reports to be produced.

Although many businesses use Jobs in their MYOB software to maintain accounts for separate shop fronts or business divisions, others might have several businesses and choose to run more than one company file.

One way to consolidate reports from multiple company files is to export reports from each company file into Excel and format the report however you like.

Another method to consolidate reports is to create a \"Master\" company file into which you can import your accounts list and transaction journals. In this way, you can print the Balance Sheet, Profit and Loss statement and many other reports from multiple businesses from a single company file.

This article is provided for guidance only, and might not be suitable for your business requirements. If you need clarification or additional information, check with your accounting advisor or post your question below.

A note about account numbers

In the example below the consolidated company file is referred to as Master, and the businesses whose results are being combined are referred to as Business 1 and Business 2.

The procedure will import all accounts from each business - they can each have a different chart of accounts, but it's worth designing account numbers carefully, as this will affect the consolidated results.

For example, if you want Advertising Expense from each business to appear as a single line in the consolidated file, then make sure that Advertising Expense has the same account number in each separate company file used to create the consolidated company file.

Alternatively, if you want the cheque account for Business 1 to show separately from the cheque account in Business 2, make sure that these accounts have unique numbers.

Task 1 - Create the Master company file

For more information on creating company files, press F1 while using your software to view the help for your version. If you're using AccountRight, see Create a company file.

\n
1. Go to the File menu and choose New to create a new company file.
\n
2. Name this file Master.
\n
3. At the Accounts List option, choose to Build your own list.
\n

Task 2 - Export the accounts

For more information on exporting, press F1 while using your software to view the help for your version. If you're using AccountRight, see Exporting data.

\n
1. Open up Business 1.
\n
2. Go to the File menu and choose Export Data then choose Accounts.
\n
3. Click in the Export Order column against every field except the Balance field.
\n
4. Click Export and name this file account1.txt. This exports the chart of accounts (not the transactions) for Business 1.
\n
5. Complete the same procedure for Business 2, except name the export file account2.txt.
\n
6. Repeat this step for any other company files to be included in the consolidated (master) file.
\n

Task 3 - Import the accounts

For more information on importing, press F1 while using your software to view the help for your version. If you're using AccountRight, see Importing data.

\n
1. Open the Master company file.
\n
2. Go to the File menu and choose Import Data.
\n
3. Select Update Existing Record and open up account1.txt.
\n
4. Match the import fields and click Import.
\n
5. Complete the same procedure (as above) for accounts2.txt.
\n
6. Repeat for any other account files to be included in the consolidated file.
\n

Task 4 - Enter the opening balance sheet figures

In the Master company file, go to the Setup menu and choose Balances then choose Account Opening Balances. Now enter the Opening Balance Sheet figures for the consolidated file.

This establishes a master template for consolidated reporting. If you want to consolidate accounts regularly or more than once a year, go into Windows Explorer or your Macintosh Desktop and make a duplicate copy of this file for future use.

Task 5 - Export the journals

\n
1. Open up Business 1.
\n
2. Go to the File menu and choose Export Data then choose Transaction Journal Entries.
\n
3. Change the Source Journal to All and select a suitable date range.
\n
4. Click Match All, then Export and name this file journal1.txt.
\n
5. Complete the above procedure for Business 2, except name the export file journal2.txt.
\n
6. Repeat for any other company files to be included in the consolidated reports.
\n

Task 6 - Import the journals

\n
1. Open the Master company file.
\n
2. Go to the File menu and choose Import Data then choose Transaction Journal Entries.
\n
3. Select the journal1.txt file.
\n
4. Click Match All and then Import.
\n
5. Complete the same procedure (as above) for journal2.txt.
\n
6. Repeat for any other journal files to be included in the consolidated reports.
\n

Note: The year-end adjustment journal is unable to be imported as you are unable to post directly to your current earnings account. As the journals you are importing would affect income and expense accounts, your current earnings will automatically update.

The import is now complete!

After completing the tasks above, all transactions from the separate company files will be in the consolidated company file enabling consolidated Profit & Loss and Balance Sheet reports to be produced.

If you're looking for a way to generate consolidated reports for multiple businesses, here's a method which might work for you.

An easier approach might be to look at some of the AccountRight reporting addons available.

Two which handle consolidated reporting are:

-  Calxa Premier which can produce consolidated profit and loss statements, balance sheets or budget variance reports, for different divisions or projects with an organisation (through AccountRight's Jobs codes) or different organisations. See Calxa in Townsville.

- MYOB Consolidated Reports also offers consolidations - for profit & loss statements and balance sheets.

It's from SmartReportSolutions in Brisbane.

Hi there,

I followed the above steps in creating the master file to consolidate reports.

I successfully imported the accounts into the master file but I reciept the conclusion report below after trying to import the transaction journals.

                  0 records imported without errors

                  0 records imported withount warnings

                  180 records skipped.

Can someone assist me?

Appreciate your help.

You need to look at the log text file that is created when an import is carriedout. It will list a negative number against the lines which were not imported. At the bottom of the text file it will provide a definition of what was wrong with the data.

Regards

Stephen Blacktop

Business Learning Centre Pty Ltd

69 Railway St

Newcastle, NSW 2300

Email: stephen@businesslearning.com.au

Web Site: businesslearning.com.au

Hi, I'd like to follow this guide to create a master/group file for a set of companies. But in the master file, if I ran a trial balance would it show the individual company TBs and then add them to get to the group numbers?

If that is not possible, is there another way I can create a single file where I can run reports in multiple ways (show entity only amounts, show group total amounts, show entity and group amounts)? Please get back to me soon. Thanks.

HI dshum

Welcome to the MYOB Community Forum, I hope you find it a great resource.

Following this guide will give you a single consolidated Trial Balance. So using the above example you would only see one trial balance which would be the total of the two companies, you wouldn’t see three columns showing business 1, business 2 and then a consolidated trial balance.

If you were wanting to have the report show both individual companies and the consolidated report you would need to export the reports to Excel and then amalgamate the reports into one report showing the information in the format you desire.

Alternatively some of our great forum partners such as Mike_James and DuncanS may also have their own thoughts on how you could produce the reports in the format you desire.

Seperate reports could be achieved by adding a Category to each divisons data prior to importing into the Master File. Then use the category Balance Sheet and P&L reports.

Stephen Blacktop

Business Learning Centre Pty Ltd

69 Railway St

Newcastle, NSW 2300

Ph: 02 49291496

Email: stephen@businesslearning.com.au

Web Site: businesslearning.com.au

Can anyone assist with my request above?

Appreciate your help.

Hi Geegee

Those errors normally mean that the data being imported in those fields is failing the validation. This can happen for a number of reasons, however the easiest way to fix it is to export out just those two fields and open up the exported file in a text editing program. This will show you how those fields have been formatted.

You will then need to compare that formatting to what you are trying to import to see what differences exist between the template file and the file you are trying to import. As any differences, like foreign characters in the field can cause the import to fail