When you asked your reseller that, what did they say?  Ok when you create a new company and go to create the GL it ask if you want to copy from an existing company, just say yes and off you go.  There is also a utility to copy master file information. SVTRNA

From those helpful guys, 90Minds:

Copy Masterfiles From Another Company (SVTRNA)

The Copy Masterfiles From Another Company program (SVTRNA) lets you quickly and easily copy Accounts Payable, Accounts Receivable, or Inventory Management masterfile information from one company to another. If you are creating a new company or division that is closely related to an existing company or division, copying masterfile information eliminates the repetitious and time consuming task of entering individual data records.

SVTRNA will not overwrite the key of an existing record; it will append data to the end of the file. For example, if your source company contains vendor #1 and vendor #2, but your destination company only contains vendor #2, the SVTRNA program will only copy the basic information for vendor #1. It will not overwrite the existing record for vendor #2.

If records are copied from the existing company or division that do not apply to the new company or division, you must delete the unwanted records individually. This can be done through the applicable file maintenance screens, such as Vendor Maintenance, Item Maintenance, and so on. These screens can also be used to correct any minor discrepancies that may exist between the records of the two companies or divisions.

SVTRNA can be used to copy information from the following applications.

Accounts Payable

Accounts Receivable

Inventory Management

AP1 – Vendor Masterfile

AR1 – Customer Masterfile

IM1 – Inventory Masterfile

APC – Division Masterfile

ARB – Division Masterfile

IM2 – Warehouse Detail File

APE – Terms Code Masterfile

ARC – Sales Tax Code Masterfile

IM4 – Alternate Item File

APP – Vendor Memo Maintenance File

ARD – Salesperson Masterfile

IMA – Product Line File

AR_17 – Vendor Contact File

ARF – Terms Code Masterfile

IMB – Price Code File

ARG – Sales Code Masterfile

IMC – Warehouse Code File

ARP – Customer Memo File

IMJ – Unit of Measure Conversion File

AR_12 – Customer Contact File

IMP – Item Memo File

AR_13 – Payment Type Code File

IM_03 – Extended Description File

AR_15 – Customer Tax Exempt File

IM_04 – Alias Item Number File

IM_12 – Item Vendor File

NOTE:

SVTRNA automatically eliminates all numeric data, such as period-to-date and year-to-date totals, invoice numbers and amounts, check numbers and amounts, etc. However, any numeric information that is part of the constant data for an item, customer, or vendor will be maintained.

What is the differnt of usign SVTRNA than copy/ back up the whole company to a new company. Siituation as below.

We want to seperate the existing company into two. In short, we have two product retail brands in existing company with history etc, and we want to seprate the two product brand as individual sage company. Appreciate your feedback.

Transaction history. 

If you are creating a new legal entity your accountants would probably prefer a clean starting point without all the clutter of the previous company's data.  Purging all the data you don't  want from a full copy company is a lot harder than starting fresh.

I think so too. If that is the case, is that creating a new company, setting up GL and using VI to import things is the only way to make things clean in a new company? Or is there any faster way?

SVTRNA is the faster way.

To be clear, if the utility brings in more customers / items / vendors... than you want, without transaction history you can just click delete to remove them.  Transaction history blocks easy deletes.

Then you import your opening inventory, beginning GL balances, open orders / invoices... but really you should be working with your Sage Partner for this.  There are a lot of considerations for setting up a new company properly, and DIY may not be the best idea.

Yes, I agreed, but it is really good to kow the concept. Thank you Kevin.

Yes, I agreed, but it is really good to kow the concept. Thank you Kevin.