How to manage the company sectors with segments

With the Segments feature it is possible to manage different sectors of a company or different projects of an association and to obtain for each one the balance sheet and the complete profit & loss statement with the breakdown of revenues, costs and profit or loss.

The segments are set out in the Chart of Accounts. When you enter a transaction, you also indicate the segment. Segments can also be used to manage branches, divisions or areas of business. A museum can use them to have reports of different exhibitions, a transport agency to have reports for each individual vehicle.

Setting up segments in your Chart of Accounts

It is useful for a company with several branches that organizes events and courses and wants separate statements for each field of activity and branch.

First level field of activity, accounts preceded by a colon ":":

• Courses
• Events

Second level branches, accounts preceded by a double colon "::":

• Rome
• Milan

It is generally more convenient to use acronyms rather than long names.

• Watch the video: Segments

Entering transactions on the segments

Segments are entered into the Transactions table in the Debit and Credit columns following the account numbers.

• Segments can be recorded, by having them preceded after the account by either a colon (:) or a minus sign (-).
• If you want to enter segments with a minus sign preceding the segment code, you must activate the option 'Use minus sign (-) as segments separator, in the File menu, command File properties (basic data) > Options.

Profit & Loss Statement by segment

The report by segment can be obtained from the menu:

• Reports > Enhanced balance sheet with groups
• In the Chart of Accounts section and in the Sections section, select the Profit & Loss statement.

• Activate the Subdivision by segment option
• Select the segment for which the balance sheet should be obtained (by project or by branch office)

Report by Sector

The different segments appear in this report. The column with the curly brackets {} is that of values not assigned to any segment.

Report by Branch

The report shows revenues, expenses, and profit for the various branches.