Consolidate group entities

Bring several entities together into a consolidation group, translate them to a single presentation currency, and post the eliminations a group set of accounts needs.

Before you start

• Pick the company you are working in and the Scope level for the group.
• Know which entities are members and, optionally, which is the parent.
• Elimination journals are balanced double-entry postings; the journal service enforces balance and period control.

[screenshot: Consolidation groups list with the group form]

Steps

Create a consolidation group

1. Open Accounting → Consolidation and add a group.
2. Enter the Name (required, up to 160 characters).
3. Set the Presentation currency (required) — a three-letter currency code.
4. Optionally choose the parent entity.
5. Add the member entities (required — at least one).
6. Optionally set the group status (active or inactive) and save.

[screenshot: Consolidation group form with presentation currency and member entities]

Review the combined figures

1. Open a group to view its Combined trial balance across all members.
2. Review the combined statements the group produces.

[screenshot: Combined trial balance for a consolidation group]

Post an elimination journal

1. From the group, post a manual elimination journal tagged to that group.
2. Set the Accounting date (required); currency and a description are optional.
3. Add at least two lines, each with an account (required) and a debit or credit amount, plus an optional line description.
4. Save — the lines must balance, and the journal is subject to period control.

Result

The group draws its members into a combined trial balance and statements in the presentation currency, with your elimination journals removing intra-group balances.

Related

• Accounting reference
• Manage exchange rates
• Run period and year-end close