Enter Opening Balances by Department

Question

How do I enter opening balances by department? When I enter my opening balances via the SetUp guide it does not have any department option. 
 Using Sage 50C Premium 2021 version. 
 THank you,

Alwyn · Answer

You first have to go to Setup / Settings / General / Departments and check the box to use departments and to setup Departments. Once this is complete the departments also have to be activated on each Account Ledger in the Chart of Accounts for the accounts you wish to show department splits.

Richard S. Ridings · Answer

After you have completed what Alwyn suggested, you will then have to create general journal entries to move the Opening Balance from the Non-Departmental G/L account to the Departments. 
 eg. Opening balance of account 4200 is $10,000 and you have two departments 
 
 Dr 4200 $7000 
 Cr 4200-1000 $4500 
 Cr 4200-2000 $2500 
 or if you prefer 
 Dr 4200 $4500 
 Dr 4200 $2500 
 Cr 4200-1000 $4500 
 Cr 4200-2000 $2500 
 
 This will leave $3000 in the account balance not assigned to departments.

Richard S. Ridings · Answer

Alwyn said: Sorry, no further help from here. 
 With all due respect, I disagree. That was helpful and confirmed that I was not missing anything. 
 The Income Statement departmental reporting is pretty decent but the departmental reporting on a balance sheet basis is lacking a lot of .... proper handling and reporting. I've never known a need for it other than for different companies part of the same conglomerate of companies so separate company files and consolidation were the answer there. 
 Thanks

Sage 50 Canada

Enter Opening Balances by Department

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