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1. Create Consolidated Company and setup for the company.
Remarks: The Consolidated company it created for consolidation only. The Company will not have any master data such as Customer, Vendor, Item etc or any operation transactions (i.e order, invoice etc.)
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1 | Create New Company for consolidated company Case Example:
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2 | Setup for the consolidated company
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3 | Setup Business Unit (1) Enter Business Unit in Search then select the related link (2) Enter the Business Unit information (1) Enter the business unit code and name (2) Select the company for the business unit (3) change the consolidation % if the consolidation is not 100% (4) enter the exch. rate Gain/Loss account (3) Go to Business Unit for review the setup. Select Tell me, then enter Business unit in the search box and then select the links in result list. Business Unit Page to be shows for review |
2. Mapping for the G/L account in source company and the account number in a consolidated company.
Note: The mapping must setup for each company it included in consolidation
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1 | Go to the company it will consolidate the data to Consolidated Company the open the Chart of Accounts page Click Edit List then enter the Consol. Debit Acct. and Consol. Credit Account. Note: if the column for Consol. Debit Acct. and Consol. Credit Account is hidden in the COA page, use Personalize function to show the column on the page. |
3. Consolidation process
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1 | Specify exchange rates for consolidations Only process if a business unit uses a different currency than the consolidated company, exchange rate methods for each account must specify before consolidate (1) Go to business unit card, then select Related=> Exchange Rates => Select Average Rate (2) On the Change Exchange Rate page, modify the Relational Exch. Rate then Close the page. (3) Choose the Closing Rate action. (4) Modify the Relational Exch. Rate then Close the Page Description of Exch. Rage Option
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2 | Test Consolidations On the business unit page, select Actions => Functions => Test Database... Review the G/L Account mapping and resolve the Error if any. | ||||||||
3 | Run Consolidation On the business unit page, select Actions => Functions => Run Consolidation... Enter the Consolidation Period and Document No. then click OK After consolidated, Consolidation Trail Balance report page to be prompt Enter start date and end date then click Preview Sample Consolidated Trial balance Remarks: The Consolidated Trial Balance Report can be run by select Related => Reports => Trial Balance |
4. Eliminate repeated transactions
Processing consolidation eliminations is a manual process. Steps to eliminate repeated transactions as below:
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