Multi Company Accounting

[Cubik]

Hi -

I'm trying to work out the best way to run my new business.

I have one LTD company name, and one bank account for that LTD company.
I have two "trading names" operating in two different business sectors - operating under the one LTD company.

Do I need two bank accounts, one for each trading name?
Do I need two accounting packages, one for each trading name?

Thanks!

 

[StevensOnln1]

My company operates under 2 different trading names with just the one bank account. Using different sales codes/categories within the same accounting package will be easier than running two separate sets of accounts.

 

[Cubik]

My company operates under 2 different trading names with just the one bank account. Using different sales codes/categories within the same accounting package will be easier than running two separate sets of accounts.

What accounting package do you use? I'm more than happy to setup sales codes/categories etc, however never really found the right software. I've looked at Xero before but quite liking the looks of Sage.

 

[nelioneil]

What accounting package do you use? I'm more than happy to setup sales codes/categories etc, however never really found the right software. I've looked at Xero before but quite liking the looks of Sage.

Xero has tracking categories where you can setup your trading names and allocate any revenue or costs to the tracking categories.