Having just completed our first year end in Sage for Education we have found a problem that is going to cause us significant reporting issues going forward.
The process for the consolidation year end produces a number of problems.
Firstly the roll up by Accumulated Fund Profit could do with being enhanced to allow you to post to a default nominal and department code. This would allow us to see the fund balances by individual database in the year end TB that is produced. This is essential for reporting to the ESFA.A prior year journal could be used to correct this from the single code out to a departmental split by school.
The above problem however is made much worse when you follow step 6 of the Consolidation - Year End Procedure on the Sage help site.
"Parent: Use Zero Balances to clear all transactions for the parent company reporting company.
This clears all transactions from the parent company. You need to do this to remove the year to date value from your balance sheet nominal accounts.