Hello KCFA,

For the ease of your company filing a consolidated return I would suggest having all 8 entities loaded into the same company. You can use one of the custom fields or as you suggested the owner field to enter the company who owns it. Another option would be to keep these companies separated until consolidated report time where you can use the merge company feature. The latter you will have to do on a yearly basis to get accurate numbers.

For the state tax you can use the State book and the 2 additional custom books to track that. If some states have same type rules you can use one book for same state tax rules. If you need more than you will have to create another company to track it. In the case of wanting to track different state tax rules perhaps the best thing is the keep the 8 entities in 8 separate companies if one state book and 2 custom books that can be used for the extra state taxes is enough. That way you don't have to duplicate your efforts with entering it in more than one company where it belongs.

I hope that helps.

~ Lovisa

How do you use the Merge Company feature? and can companies be Unmerged later on to track separately again?

Hello ESanchez,

Here are steps in how to perform Merge Company inside Sage Fixed Assets: How to merge companies?. 

The merge companies create copies of the original companies, so they stay standalone so no need to un-merge them. You can also choose to do a company backup in case you think it is a good idea to have a point of return.