GLCONSOL General Ledger Company Consolidation
Company Consolidation
Application Overview
The Company Consolidation application is used only by businesses and organizations, which include a main, corporate, and one or more subsidiary companies whose General Ledger transactions need to be merged into the files of the main company so that consolidated financial statements can be produced. If you are doing financial accounting for only one company you will never need to run this application.
Company Consolidation would be run typically at the end of an accounting period, or at the end of the year when financial statements are to be produced.
Running this program does not delete any transactions from the General Ledger Transaction Files of the subsidiary companies, so it may be run either before or after financial statements are produced on an individual bases for each subsidiary companies.
Ensure that all transactions have been posted to the current company's General Ledger Transaction file from the General Journal Transaction file prior to running this application. This program will not allow consolidation to a main company database in which unposted General Journal Transactions exist.
Transactions that are consolidated are marked in the subsidiary company's General Ledger Transaction file as having been consolidated. This is so the same transactions are not consolidated more than once, which would cause erroneous reports to be generated from the main company. The same subsidiary company can be consolidated again, but only unmarked transactions will be merged with the main company.
Consolidated transactions are written into the main company General Journal Transaction file. Each account is checked for the presence of a consolidation account. If this field is not blank, this account is used in the consolidated company. The consolidation account is not validated for the parent company. Transactions are given a source code of CN9999, where 9999 is the company number of the company consolidated from. Compressed consolidated transactions are given the reference Compressed Consolidated Transactions.
The Percent To Consolidate option is available to consolidate only a percentage of the subsidiary into the parent. This percentage will be taken against every account in the subsidiary company.
Once consolidation has been accomplished, the General Journal Trx Processing application can be used to edit (if needed) and post the consolidated transactions to the General Ledger Transaction file. An account not on file message will display if the consolidation account does not exist for the parent company. Financial reports can then be generated. General Journal transactions consolidated into the main company will carry the session id of CONSOLIDAT.
Make sure that all consolidation is done prior to running the Year- End Procedure.
NOTE: Company consolidation cannot execute unless the company display names are different.
Run Instructions
Select Company Consolidation from the pull down G/L Processing window. The following screen will then be displayed:
Company Consolidation Entry Screen
The following options are available:
- Select the desired mode from the Company Consolidation menu bar
- Enter the data requested on the screen
- Enter up to 14 different companies that can then be consolidated into the current company (the one that you initially logged on to).
- After you have entered the company number, the program will immediately check to see that this company's data files actually do exist. If they do not, then you will have to correct your entry.
- If you are consolidating less than 14 subsidiaries at one time, press the ESC or F10 key for the company number of the entry just after the last one you want to enter.
- When you have no more changes to make on the screen, processing will begin with the first subsidiary company in the list. The company being processed and account being processed will display at the bottom of the screen.
- After each subsidiary company is processed, the message **Completed** displays beside it.
- If an irregularity should occur while a subsidiary company is being processed, a warning message is displayed at the bottom of the screen, and you are given the option of continuing to process that company, skipping it to continue with the next subsidiary company, or ending the consolidation at that point.
- When all subsidiary companies have been consolidated into the main company, the user is given the opportunity of entering more subsidiary companies to be consolidated into the main company or exiting.
To return to the menu bar, press the ESC or F10 key. To leave this application, press X for EXIT when positioned at the menu bar.
Entry Field Description
Name | Type and Description |
Comp No | 2 numeric digits. This must be the number of a valid company. |
Data File Pathname | Automatic display. |
Company Name | Automatic display. |
Thru Date | Enter a date in the standard date format. Press RETURN to default to the current period ending data as defined in the Period file. Any transactions in the subsidiary company's General Ledger Trx file dated after this date will not be consolidated. |
Percent To Consolidate | 3 numeric characters. This option enables you to consolidate the percentage of ownership of each sub company up to 100. |
Compress Option | 1 alphabetic character. Valid entries are D for Compress By Date, P for Compress By Period, or N for No Compress. RETURN defaults to N. There is no option to compress by source within date or period, as there is in the Compress General Ledger Trx File application. If you wish to retain the sources from the subsidiary companies, use the No Compress option here, for the consolidation, and then, once the transactions are now in the parent company's General Ledger Transaction file, run the Compress General Ledger Trx File application, making sure the compress code in the G/L Account File for those subsidiary company account numbers have the desired compress code. |
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