Welcome to our guide on how to effectively consolidate financials in Sage 300 CRE when dealing with multiple data folders. This process is vital for companies operating with separate entities within the Sage 300 CRE system. We will cover the necessary prerequisites, the consolidation process, and best practices to ensure accurate financial reporting.

Understanding the Requirements for Consolidation

Before initiating the consolidation process, certain conditions must be met to ensure a smooth and error-free experience:

• The General Ledger (GL) structure must be identical across all data folders intended for consolidation.
• Prefix numbers for legal entities must be unique within each data folder.
• All entities should align with the same accounting period and fiscal year-end.
• Base accounts should ideally be the same, or at least not overlap in meaning, across different data folders.
• The consolidation process must be conducted when the GL master file is not locked by users in the originating data folders.

Setting Up for Consolidation

Begin the consolidation process by creating an empty data folder designated for consolidation purposes. For example, in our scenario, we have two live operating companies, Timberline Construction and Timberline Development, and one consolidation data folder, Westcoast Properties.

Ensure that the prefixes you intend to consolidate, such as prefix 10 from Timberline Construction and prefix 21 from Timberline Development, meet all the aforementioned requirements.

Copying Data for Consolidation

Start by copying various components of your GL from the originating companies into the consolidation data folder. This includes:

1. Company records
2. Base accounts
3. Journal records (optional but recommended)
4. Accounts and related balances

Important: Never select the option to "Delete records after copying," as this will remove accounts and balances from your live data folder.

Reviewing Financials in Originating and Consolidated Entities

After copying the data, review the financial statements in both the originating and consolidated entities to ensure that the balances match. This verification step is crucial for accurate financial reporting.

Consolidated Financial Statements and Elimination Entries

With the data copied and verified, you can now run comparative financial statements within the Sage 300 CRE system. To handle intercompany transactions, create an additional entity (e.g., entity 99) within the consolidation data folder for elimination entries.

Best Practices and Final Suggestions

• Always back up your data folders before making any changes.
• Close your periods consistently across all data folders, ensuring the period end date and fiscal year-end date are the same.

Conclusion and Next Steps

In conclusion, consolidating financials in Sage 300 CRE with multiple data folders requires careful attention to detail and adherence to specific requirements. By following the outlined steps and best practices, you can achieve a comprehensive and accurate financial consolidation.