Multiple "trading as" companies

Geordie GibsonGeordie Gibson Member Posts: 7
edited August 2019 in Accounts Business Range
I'm using Reckon Accounts Premier, contractor edition 2017. As my company is operating under a "trading as" name and I want to start another "trading as" company. What's the best way to set this up within Reckon? The original data file has all the main company information.

Currently, within the Customer Centre I have a list of all my clients, which I then load new jobs under their names. 

With this new trading entity, I would prefer keep the customer and jobs list completely separate from the original entity, as the customer list will be sorted out quite differently.

Is this something that can be done quick and easy? I've searched and everyone seems to say to switch to MYOB to do this. 

Thanks in advance

Comments

  • ZappyZappy Accredited Partner Posts: 4,425 ✭✭✭
    edited August 2019
    Do you have a separate BAS for the second business name? Myob does NOT handle this any differently. You can use classes in Reckon to split out out revenue and expenses you can also apportion overheads. I hope this helps. Call me if you wish to discuss I use and sell all of the SME business software Kevin 0407744914
  • Jacqui AllenJacqui Allen Member Posts: 243
    edited March 2018
    If it a new ABN then yes you should create a new company.  You can create a new coy without accounts etc and then export your lists (individually filter and remove inactive accounts, items, customers & suppliers then import into the new data base.  Don't forget to export/import template & custom reports.  NB before you enter any data make a back call it master template, just in case you wish to do it again.  I have several data file templates for new clients saves hours . . .
  • Geordie GibsonGeordie Gibson Member Posts: 7
    edited March 2018
    Hi Kevin, thanks for the reply. Both trading as names will be under the same GST number which is linked to the main company.

    I read somewhere about setting up different classes as you mentioned, it seems like it's going to be difficult to do as the original "trading as" business has been going for a few years now. Is there an easy way to do this?

    I'm assuming that, when you say classes, it is just telling Reckon "XYZ" goes to "trading as name a" and "ABC" would go to "trading as name b"? Sorry accounting has never been my thing so some of my terms may be completely wrong.

    Thanks
  • Geordie GibsonGeordie Gibson Member Posts: 7
    edited March 2018
    Hi Jacqui, both businesses will have the same GST number (as NZ businesses) just two separate trading as names.
  • ZappyZappy Accredited Partner Posts: 4,425 ✭✭✭
    edited March 2018
    There is no easy way to do this
  • Geordie GibsonGeordie Gibson Member Posts: 7
    edited March 2018
    Thanks Kevin - I'll stick to my original plan then, and have two separate data files, one for each trading name - means a little more work but it seems to be the easiest way to do it.
  • ZappyZappy Accredited Partner Posts: 4,425 ✭✭✭
    edited March 2018
    That is going to be messy at year end
  • Geordie GibsonGeordie Gibson Member Posts: 7
    edited April 2018
    Understand it will be, however I can't see any easy way around it.

    I did have another thought, one that might be the easiest/simplest way around it. In the Customer Centre, is there a way to minimise certain customers and job lists? For example, under each customer I list each new job as it comes in, using the hierarchical view.

    Is there a way I can then minimise each customer without making them inactive? For example, I have company ABC which I work on for one day. The next day, I want to do work under the next company, XYZ. Can I minimise the jobs list for company ABC and focus only on XYZ? If that makes sense?

    If that can be done, this would then be doing pretty much what I want, while only using the one data file.?
  • ZappyZappy Accredited Partner Posts: 4,425 ✭✭✭
    edited April 2018
    Nope. If you want true divisional reporting you need to look at another solution. Reckon only costs one thousand dollars. It cant do everything.
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