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moosh
Registered Posts: 28 Regular contributor ⭐
I need to add opening balances from our subsidiary company on our main company accounts system.
I have set up the new nominal codes for the P&L cost centres (as we still need to show these income and expenses separate) but do I need to set up new balance sheet codes for this subsidiary company, ie VAT, accruals, prepayments, retained earnings? Or would I just use the existing codes for these?
Previously, we have produced P&L and balance sheet for each individual company and then consolidated them afterwards.
Don't know if this makes sense, but hoping someone can help me :confused1:
I have set up the new nominal codes for the P&L cost centres (as we still need to show these income and expenses separate) but do I need to set up new balance sheet codes for this subsidiary company, ie VAT, accruals, prepayments, retained earnings? Or would I just use the existing codes for these?
Previously, we have produced P&L and balance sheet for each individual company and then consolidated them afterwards.
Don't know if this makes sense, but hoping someone can help me :confused1:
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