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Consolidation Accounts

  • 5 June 2023
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Hi Team,

 

Suppose that we have two companies in one tenant. And also I have configured only one set of chart of accounts yet. The following two concerns are need to be clarified from you all.

 

  1. Can we maintain two set of chart of accounts for those two companies ?
  2. If can, how to do the consolidation of accounts ?

 

Thank You & Best Regards,

Yashodha

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Best answer by Laura02 7 June 2023, 07:04

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Laura02
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Hello,

Two companies in one tenant do share one chart of accounts.  Chart of Accounts is only one screen; there is no company filter at the top.

The easiest, best answer is to find a way to agree on one chart of accounts.

If two companies cannot agree on one chart of accounts, we use Restriction Groups to ‘hide’ some or all Company 2’s accounts from Company 1. 

  • Row Level Security feature must be turned on in Enable/Disable Features.
  • Use Restriction Groups screen or GL Accounts by Branch Access to match accounts with companies.
  • Restriction groups must be maintained; they require changes every time a new account is added to the Chart of Accounts.

For “consolidation of accounts” do you mean, how to print end of month financial statements that include both companies? One way to produce a combined financial statement is to leave Company blank (print for all companies) and do not check Apply Restriction Groups.

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~
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Hi @Laura02 ,

 

Thank you so much for your reply & if you have can you please send me a guide to prepare consolidation accounts. It will be a great help.

 

Thank You & Best Regards,

Yashodha

Laura02
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Hello, 

Consolidation process in Acumatica will consolidate data from one tenant into a separate Parent tenant. 
 

  1. Create separate parent tenant with one chart of accounts and no restriction groups.
  2. Activate consolidation feature of finance module in both tenants
  3. Follow Acumatica help instructions to populate consolidations features, including consol accounts on chart of accounts in child tenant, identifying ledgers as consolidation source in child tenant and mapping the source/Target consolidation companies/tenants.
  4. Practice consolidating. Consolidations process run in parent collects account balances from child tenant and produces a gl entry each month. 
    5. Months can be consolidated more than once, such to pick up new (late) transactions.

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~
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Hi @Laura02 ,

 

Thank you so much for the prompt reply.

 

Thanks,

Yashodha

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