If I use Multi company setting, will (or can) the transactions from both companys be consolidated into one set of accounts?
I am a sole trader running two trading names under one VAT registration.
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If you have only one VAT number, it means you have only one legal entity, that you report only once to tax authorities, and that you should have only one chart of account. In that case, you should not be using the multi company feature in Odoo.
As an amendment to fhe's answer: You can use Analytic Accounting to report for different trade names.
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Multi-Company Setup with Shared Accounting in Odoo
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How to do this?
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Ok, thank you. that certainly makes sense to me. I was only looking at multi company because someone here suggested it as an easy way to have two websites ( one for shop, local market, info only. The other for national market, ecommerce ) Perhaps there is another way of duplicating a website? The local site will have all the same products (around 400 to start) but without the option to buy online.