Setup for Multiple Companies
I have more than one business. How do I set that up in Goldenseal?
There are two basic ways to handle multiple companies in Goldenseal-- you can create a separate file for each company, or you can combine them into one file and then use Company Divisions to separate them.
Choose whichever method gives you the amount of separation that you require.
Your Goldenseal license allows you to use Goldenseal to keep books for more than one company, as long as they are owned by the same person, the same partnership or the same corporation.
If the companies are owned by different people or different legal entities, you'll need to get a separate copy of Goldenseal for each company.
Using Multiple Files
If you need to keep each business entirely separate, set up a separate company file for each business. That will probably be the case if each business is a separate corporation with separate tax returns.
If the businesses share many common suppliers, you can save time by doing the following:
If you transfer money between companies, you'll need to treat your additional businesses just as if they belonged to someone else. Enter your second company as an account in the first company file, and enter your first company as an account in the second company file. You'll then enter invoices and payments exactly the same as you would to a regular vendor or customer.
Managing Multiple Files
Goldenseal only lets you open one file at a time-- so if you are working on more than one company on a single computer, you'll need to exit/quit from one file before opening another one.
On the Macintosh, you can duplicate the Goldenseal application (tree icon) and then open multiple company files at the same time. To do that, drag the icon for the company file onto the appropriate application icon.
If you are using the multi-user version of Goldenseal, you can install each company file on a different server computer. That way you can open whichever company file that you want, from one of the client machines.
If an employee works for more than one company during a single pay period, the way you will handle their wages depends on whether you write them a separate paycheck from each company or not.
If you write them a separate paycheck from each company, follow these steps:
If you write a combined paycheck from one company, follow these steps:
Using One File
If the businesses do not need to be kept entirely separate, you can save time by running them all from one company file. In that case you can use Company Divisions to separate the companies for planning and tax purposes.
When you set up a company file that covers more than one business, enter a Company Division for each business entity that you'd like to keep separate.
For each Asset account and Liability account, enter the Company Division to which it belongs. Goldenseal will use that information to create a separate balance sheet for each division.
For each Job Type, enter the Company Division to which that type of work will apply. Goldenseal will use that division to allocate expenses and income to each division.
For each Sales Branch, also enter the Company Division to use for sales from that branch.
When you enter data, you'll need to be careful that every transaction is marked for a specific Company Division.
For Sales, that means that you'll need to enter a Sales Branch for each sale.
For Expenses, Goldenseal will use the Job account to determine the Company Division (based on the Job Type for each Project or Overhead account).
A few of the reports are designed to give details for just one Company Division. In the future we plan to add more reports that will show info for just one Company Division.
To see a report for one Division, follow these steps:
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