Consolidation is a process of inserting the General Ledger details of  Subsidiary Company/Companies into the General Ledger Account details of the Parent Company.

Pre-condition:

  1. Setup Multi-Company. Make sure that there is a Parent Company and at least one Subsidiary company. For more information on multi-company setup, refer to: How to Setup Multi-Company Replication.
  2. Generate Trial Balance 

 

Here are the steps on how to consolidate:

  1. Setup Multi-Company. Make sure that there is a Parent Company and at least one Subsidiary company. For more information on multi-company setup, refer to: How to Setup Multi-Company Replication.
  2. On General Ledger > Fiscal Year, Close the period under General Ledger of the consolidation date for both Parent  and Subsidiary company.  For more information on closing fiscal period. refer to: How To Close Fiscal Year Periods.

    Note: Fiscal Year Period and status are synchronize.
     
  3. Log in as Administrator using Parent Company.
  4. In the user's menu panel, Open General Ledger, Under Activities select Consolidate GL Entries.
  5. Enter Consolidation Date by selecting the period to consolidate.

    Note: Consolidation date should be a closed period.

  6. Click Consolidate button.

  7. Once the consolidation has completed details Grid will display the result of the consolidation.



  8.  If the consolidation was successful, GL accounts detail of all subsidiary company within consolidation date will be inserted in Parent Company.

 

Consolidation can only be done if:

  • Current company is the parent company.
  • GL chart of accounts of both Parents and Subsidiary are the same.
  • Consolidation date of both Parent and Subsidiary company are closed.
  • No unposted transaction in consolidation date.
  • Parent and Subsidiary company have balanced GL details.
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