Page History

Table of Contents

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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Steps

1

Create New Company for consolidated company

Case Example:

Company BZ Hong Kong and BZ USA is the subsidiaries of the organization
Consolidated company BZ Consolidation Company created for consolidation process only.

2

Setup for the consolidated company

Chart of Account
Currencies and Exchange Rate
General Ledger Setup - Local Currency
Account Schedule if you want to run the financial statement from the consolidated company.

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

#	Steps
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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Steps

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


Average Rate (Manual)	You manually calculate the average rate for the period to consolidate. Calculate the average either as an arithmetic average or as a best estimate, and specify the result for each business unit. Used for income statement accounts.
Closing Rate	Used for balance sheet accounts.
Last Closing Rate	The rate that was valid in the foreign exchange market on the date for which the balance sheet or income statement is being prepared. You enter this rate for each business unit. Used for balance sheet accounts.

2

Test Consolidations

On the business unit page, select Actions => Functions => Test Database...