Consolidation

This is a server-side process, which can be run straight away or scheduled to be run at a later time.

If you have more than one company and nominal ledger, you can use the Consolidation command to consolidate the ledgers into a master company. The companies can have different financial calendars in the source and destination companies. You can run the consolidation process more than once in any accounting period. The application ensures there is no duplication of entries; transactions that have already been transferred are not transferred again.

Open Period Accounting

If you do not use the Open Period Accounting feature, transactions are only consolidated if they have an entry date in or before the current period of the target company's Nominal Ledger.

Journal entries created in the target ledger as a result of consolidation have the following attributes:

If the source ledger is in the first period at the time of consolidation, the source ledger’s opening balances will also be consolidated to the destination company.

Suppose you have two subsidiary companies and one parent company, the accounts of which are in three different companies in the system.

For financial and management reporting, you want to consolidate the nominal account balances of the two subsidiaries into the parent company each period. The nominal ledgers share the same charts of accounts. For each of the subsidiary companies, you identify the parent company using the Consolidation Co. box on the Nominal Ledger - Set Options form. For the parent company, this box is left blank but you indicate the suspense account to be used in the Consolidation Susp. box. At the end of each period, you run the consolidation procedure from each subsidiary company using the Consolidation command. You can then print the reports you want in the parent company. These reports will include the balances of all three companies.

Box	Description
Multi Currency Consolidation options
Exchange Rate	If the home currency for both companies is the same, this box is disabled. The company's home currency is defined in the Home Currency box on the General tab of the System - Maintenance - Company Profiles form. If the companies have different currencies, you must enter an exchange rate to convert the values in the source company to the currency of the target company.
Rounding Discrepancies Account	If the home currency for both companies is the same, this box is disabled. The company's home currency is defined in the Home Currency box on the General tab of the System - Maintenance - Company Profiles form. If the companies have different currencies, you must select a Nominal Ledger account for any rounding values that are calculated during the currency conversion. This account must be linked to an 'Expense' Nominal Ledger Type (Nominal Ledger - Maintenance - Types).
Other options
Include Prior Year Transactions	Tick this box if you want to consolidate transactions posted to previous financial years in the source company. The application will post the transactions into the this period in the current financial year.
Include Future Year Transactions	This box is enabled if you use the Open Period Accounting feature. Tick this box if you want to consolidate transactions posted to future financial years in the source company. The application will check whether a future financial calendar is available in the target company before consolidating the transactions.
Compress Transactions for Balance Forward Accounts	Tick this box if you want to compress transactions that have been posted to 'Balance Forward' type Nominal Ledger accounts. This process rolls up all the transactions into one brought forward transaction. Balance Forward accounts are those accounts where the Open Item box on the Nominal Ledger - Maintenance - Accounts form is not selected.

Box

Description

Multi Currency Consolidation options

Exchange Rate

If the home currency for both companies is the same, this box is disabled. The company's home currency is defined in the Home Currency box on the General tab of the System - Maintenance - Company Profiles form.

If the companies have different currencies, you must enter an exchange rate to convert the values in the source company to the currency of the target company.

Rounding Discrepancies Account

If the companies have different currencies, you must select a Nominal Ledger account for any rounding values that are calculated during the currency conversion. This account must be linked to an 'Expense' Nominal Ledger Type (Nominal Ledger - Maintenance - Types).

Other options

Include Prior Year Transactions

Tick this box if you want to consolidate transactions posted to previous financial years in the source company. The application will post the transactions into the this period in the current financial year.

Include Future Year Transactions

This box is enabled if you use the Open Period Accounting feature. Tick this box if you want to consolidate transactions posted to future financial years in the source company. The application will check whether a future financial calendar is available in the target company before consolidating the transactions.

Compress Transactions for Balance Forward Accounts

Tick this box if you want to compress transactions that have been posted to 'Balance Forward' type Nominal Ledger accounts. This process rolls up all the transactions into one brought forward transaction.

Balance Forward accounts are those accounts where the Open Item box on the Nominal Ledger - Maintenance - Accounts form is not selected.