Consolidating Balances
Prerequisites
Define a consolidation mapping for each subsidiary set of books you want to consolidate to your parent.
Enter and post journals to your subsidiary set of books during the normal course of business.
Revalue balances for any set of books with balance sheet accounts that are denominated in a foreign currency.
If the subsidiary and parent sets of books have different functional currencies, translate the subsidiary set of book's balances into the parent set of book's functional currency.
To consolidate actual balances:
1. Navigate to the Consolidation Workbench window.
2. Select the consolidation mapping you want to transfer. The mapping must use the balances consolidation method.
3. Choose the Transfer button from the State Controller.
The Transfer Consolidation Data window will appear, displaying the Method, Currency and Set of Books information defined for this mapping. If you have average balance processing enabled, the system will also display the default Usage type you selected.
4. Select Actual for the Balance Type.
5. If you have average balance processing enabled, select a Usage type to indicate what balances to consolidate; Standard, Average, or Standard & Average.
6. Enter the Amount Type of balances you want to consolidate, such as year-to-date (YTD) or period-to-date (PTD).
7. Enter the subsidiary's accounting Period that you want to consolidate.
8. Enter the Standard Period to which you want to consolidate in your parent set of books. You can consolidate to any period that is open or future enterable.
9. If you have average balance processing enabled, enter the Date of the subsidiary's average balances that you want to consolidate.
10. If you have average balance processing enabled, enter the Average Period to which you want to consolidate in your parent set of books.
11. (Optional) If desired, change your consolidation Run Options.
12. Choose the Select Accounts button to specify the account ranges you want to consolidate. Enter the Account Low and High for each range you want to consolidate.
When you submit the transfer process with the Run Journal Import option enabled, General Ledger creates an unposted consolidation journal batch in your parent set of books that includes all the valid accounts within the range. If your consolidation range excludes some accounts from your subsidiary set of books, and your consolidation is run in audit mode, you can review any excluded accounts in the Unmapped Subsidiary Accounts Report.
The range(s) you specify for this consolidation transfer will be the default range the next time you transfer data using the selected consolidation mapping.
13. Choose Transfer to launch a concurrent process to transfer your subsidiary data to your parent.
14. If you did not choose the Run Journal Import option for your transfer, use the Import Journals window after the transfer completes to create the consolidation journal batch in your parent set of books.
To consolidate budget balances:
1. Navigate to the Consolidation Workbench window.
2. Select the consolidation mapping you want to transfer. The mapping must use the balances consolidation method.
3. Choose the Transfer button from the State Controller.
4. Select Budget for the Balance Type. The Usage type will change to Standard since General Ledger does not maintain average balance information for budgets. The Date and Average Period fields will also be disabled.
5. Enter the Amount Type of budget balances you want to consolidate, such as year-to-date (YTD) or period-to-date (PTD).
6. Specify a Budget name for both your subsidiary set of books and your parent set of books. Both budgets must be open or current. Your parent and subsidiary budgets must share the same periods.
7. Enter the subsidiary's budget Period and the parent's Standard Period to which you want to consolidate.
Accept the default period ALL if you want to consolidate budget balances for all periods in the budget. You must enter a Budget Fiscal Year if you consolidate for all periods.
8. (Optional) If desired, change your consolidation Run Options.
9. Choose the Select Accounts button to specify the account ranges you want to consolidate. Enter the Account Low and High for each range you want to consolidate.
10. Choose Transfer to launch a concurrent process to transfer your subsidiary data to your parent.
11. If you did not choose the Run Journal Import option for your transfer, use the Import Journals window after the transfer completes to create the consolidation journal batch in your parent set of books.
See Also
Consolidating Transactions
Global Consolidation System
Consolidation Workbench
Mapping Subsidiaries to Your Parent
Preparing Subsidiary Data
Transferring Consolidation Sets
Posting Subsidiary Data
Creating Eliminating Entries
Importing Journals
Notes on Consolidating Average Balances
Overview of Average Balance Processing
