URGENT: Merging one general ledger into another (both Sage 50)
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Certified Accountant + Xero/Sage/QB Expert + loss claim, grant & loans
City of London
ACCA, CFA Expert in Bookkeeping, Financial Reporting,Forecasting,Forensic Auditing, Management Accounting, Auditing,
Faisalabad
229569381213423832622906682289523590552227382525588123133342324455
Description
Experience Level: Expert
My business acquires the trade and assets of another business at the beginning of May; both businsses have continued to use their own general ledger since. However, I now want to merge them effective from 1st May. I think that the following tasks are required
(1) Identify all transactions outstanding as at 1st May (aged creditors and debtors) in the target company and import into the buying company (converting nominals through a mapping that I can provide)
(2) Transfer over the remaining TB balances in the range 000-2999 (i.e. all assets and liabilities) - again mapping to new nominal codes
(3) Import all transactions since 1/05/2018
The reason that I’m suggesting this (but open to variations)
• We could run a P&L across the whole year
• We would have a single general ledger (sage) for when the companies have been combined (i.e. since 1st May) making reporting and audit much easier
(1) Identify all transactions outstanding as at 1st May (aged creditors and debtors) in the target company and import into the buying company (converting nominals through a mapping that I can provide)
(2) Transfer over the remaining TB balances in the range 000-2999 (i.e. all assets and liabilities) - again mapping to new nominal codes
(3) Import all transactions since 1/05/2018
The reason that I’m suggesting this (but open to variations)
• We could run a P&L across the whole year
• We would have a single general ledger (sage) for when the companies have been combined (i.e. since 1st May) making reporting and audit much easier
Francis M.
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11 May 2024
United Kingdom
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