Management Accounts
Set up business structure and periods
A WiseWage company can manage books for its own entity and for related businesses that do not use WiseWage payroll. Each managed business keeps separate Management Accounts records so review, posting, and reporting stay clean.
View screen examples (1)
Create or select the entity
- 1
Open Management Accounts from the Management Accounts section near the top of the Company Admin sidebar.
- 2
From Consultant Workspace, select an assigned company, then choose Open Management Accounts Workspace.
- The loading screen names the section being opened, such as Opening Audit or Opening Expense Register.
- Use Refresh checks in Management Accounts to recheck saved records without leaving the workspace.
- If loading fails, choose Try again; an access message means your administrator must check the company assignment.
- 3
Open Settings, then go to Business structure.
- 4
Review the primary business first.
- Select every industry that applies to it, then add a related business only for a subsidiary, division, or related company that genuinely needs separate books and reporting.
- The inline Selected industries panel shows the full pending list before it is saved.
- Choose Subsidiary for a separate legal entity or Division for an internal reporting unit.
- 5
For a single-entity company, confirm the full company name shown at the top.
When subsidiaries exist, use Business / entity to switch between the parent/group view and each active entity.
- 6
Confirm the selected business before editing COA, uploading files, posting, or generating reports.
- Settings uses General, Business structure, Currency & FX, Tax defaults, e-Invoicing and Documents sections; only the selected section is shown.
- On smaller screens, use the Settings section selector.
- If you change a Settings form and try to switch section, company, business, or period, choose Save changes, Discard changes, or Stay here in the unsaved-changes prompt.
- 7
Use Settings > Business structure to edit a related business's name, code, relationship to the primary business, and every applicable industry.
- Choose Other to enter a custom industry not listed in the standard choices; it is saved and displayed with the other selected industries.
- The selected industries appear together as a business classification in reports; they do not split a business's books or financial results.
- 8
Delete is available only for an unused managed business.
If it has periods, uploads, transactions, reports, or audit records, use Deactivate instead.
- 9
Use Deactivate for a business that should leave active selectors; historical periods, postings, reports, and audit records are preserved, and the parent business cannot be deactivated.
Create the period
- 1
Open Periods and choose the fiscal year.
- 2
Choose the period code, such as P4 or P5.
- 3
Add a clear period name where useful.
- 4
Save the period before source intake.
- 5
Periods are retained for audit history.
Use rollback and normal correction workflows when a period needs attention.
Keep entity records separate
Each managed business should have its own COA, source files, processing runs, diagnostics, issues, backups, Excel report packs, PowerPoint packs, and Executive Email Summary Drafts. This avoids one subsidiary's postings inflating another subsidiary's trial balance or reports.
- 1
Switch to the correct business before downloading COA, source, or inventory templates.
- 2
Upload COA templates only while the matching business is selected so account records stay scoped to that business.
- 3
Upload source files only under the matching business and period.
- 4
Generate the entity's final Management Accounts before group consolidation.
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