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brendasage

Franchise

Posted By

Hello, 

Currently I have a client that has two locations and I've had it created as two different companies in Sage.  Now I'm thinking maybe in January I can just make it one company and two income statements and one balance sheet. 

I have a new client that has 2 franchise locations.  One bank but separate accounts for everything just like above.  I'm thinking, is there a way to have just one account? I need opinion from what would be the best way to do this? The above does so much transferring between accounts that in january I think its best to make it one account.  I just need some insight into how to setup the COA properly.

This new clients will have more franchises so I want to do it right the first time.

the other thing is I use Sage 50 Canadian edition ...accountants edition..with Sage Drive.  Sage drive is mandatory.  When I look online it says to add departments but this version doesn't have departments in the settings, so now I can see I have the wrong one

groan

  • 0

    Hi

    If the business and all its franchises only has one business number then you can setup departments in your current data file. In your Accountant Edition menu ( to the left of Help menu) there is an option to upgrade company and you can change it to Premium. Warning - other users will need to upgrade to Premium if they are using Pro. Consult them before doing this. You can then consult with KB 10542 on setting up the departments. You may not need to adjust any Chart of Accounts. On the other hand, if the franchises all have different business numbers, continue keeping the companies in separate files and you can create a consolidated reporting file to combine all the franchises into one set of financials, using KB 13419. Its easier doing it this way especially if you use any tax filing software.

    Hope this helps.

  • 0 in reply to DeneshS

    Thank you! I look forward to checking out the kb link! I talked to support and they showed me the departments and I was blown away!!  The new franchise has one business number so I will set that up   With departments! The other one has the same number except 0001 and 0002!   

*Community Hub is the new name for Sage City