AccountMate 6.5’s Consolidated Ledger can define as many subsidiary companies as desired for each parent company.
Unlimited Number Consolidations per Period
You can consolidate each subsidiary’s General Ledger data to its parent’s General Ledger at any time in order to view updated financial data. During year-end closing, a final consolidation of information is automatically generated by the system.
Automatic Account Mapping Options
You can automatically map all or a range of accounts in the parent company to accounts in the subsidiary, or you can choose to map an individual parent company’s account to multiple accounts in the subsidiary company.
Figure 1: Automatic Account Mapping
Review Date and Time of Previous Consolidation
You can easily see which companies still need to be consolidated prior to issuing reports. AccountMate 6.5 displays together the last date and time that each subsidiary company’s account balances were consolidated into the parent company, and by who performed the consolidation.
Internal Checks Help Prevent Consolidation Errors
The Consolidated Ledger detects any problems that affect a consolidation (such as parent company accounts that are inactive, or accounts and fiscal periods that have not been mapped). If a problem is detected, the operation will be aborted until the problem is corrected.
Consolidated Ledger provides the ability to map the parent company’s fiscal periods to each subsidiary’s fiscal periods. This is especially useful when a subsidiary company has fiscal periods that differ from the parent company’s periods.
Figure 2: Fiscal Period Mapping
Consolidate Account and Budget Balances
You can consolidate budget balances as well as account balances, providing the ability to more effectively manage your business.
Consolidation Control Totals
The net retained earnings value consolidated from a subsidiary’s accounts or budget can be displayed to check against the control amount expected.
Posting Period Restrictions
You can restrict the creation and consolidation to any specified period in the parent company. This ability protects the integrity of General Ledger data that has already been included in consolidated reports.
