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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.
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.
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.
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.
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.
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.
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