Hello,

The work-around for 10 separate charts of accounts is to create 10 tenants.

To consolidate the Financial statements, you want to add an 11th tenant, “Consolidation Parent”. Turn on General Ledger Consolidation feature in Enable/Disable Features screen.

In the Chart of Accounts in each “child” tenant, map every account to the Parent company’s Chart of Accounts:

In the Consolidation Parent tenant, transactions are imported from the other tenants on a regular basis using Import Consolidation Process of the Finance module.  Import Consolidation Data can be automated on a schedule.

Navigate to Finance --> Processes --> Import Consolidation Data.

Import Consolidation Data is used by the parent company to import consolidation data from its consolidation units. Data is imported to Consolidation from the Live tenant for all open periods, and data is imported to the specified consolidation ledger of the parent company only if this data has been posted to the ledgers of the consolidation units since the previous consolidation. (Batches with status Hold, Pending Approval, Balanced are not consolidated. Each batch may be consolidated only once.)

I hope this helps you.

Laura

Hi @Laura02 

Thank you for the reply.

I’m planning to create all 10 legal entities in the same production tenant because the customer has purchased only 01 production tenant. To do the consolidation do we need to purchase additional tenants ? Can’t we do that within one tenant including all the legal entities ?

Appreciate if you can elaborate my issue.

Thank You and Regards

Yashodha

Hello,

I don’t recommend 10 separate charts of accounts in one tenant. Ten COA’s mixed together in Chart of Accounts screen, with Restriction Groups connecting Account to Company is not easily configured and not easily maintained.

Transaction posting is often controlled from the subsidiary modules. For example, Inventory transactions are controlled by Posting Classes connected to your items. Inventory Posting classes can’t choose different inventory accounts or different COGS accounts per company (choices are from the Item, the Warehouse, or from the Posting Class).  Customer default accounts come from the customer or from the Order Type- each customer record has one AR account, one default sales account…. not one per company. Choices on Order Types are: Inventory Item, Warehouse, Posting Class, Customer or Reason Code.  Vendor Default accounts come from the Vendor Profile - each Vendor record has one AP account, one default expense account, etc.…. not one per company.  If you use Multiple currencies: each currency can have one Realized Gain/Loss account, not one per company. These are 4 examples of many posting defaults in Acumatica.

The #1 best solution for 10 companies in one tenant is to agree on one Chart of Accounts.  With one chart of accounts in Acumatica, you can easily print financial reports for each separate company and print financial reports combined using standard ARM financial reports found in the Finance module.

If you can’t agree on one Chart of Accounts, I think the next best solution is to use GL Consolidation feature with 10 tenants.

In Acumatica, we always have choices, always more than one way to configure settings. Perhaps someone else will post more ideas for you. 

Laura

@Laura02 

I completely understood your point. May I know do we need to purchase additional modules or additional tenants to follow the GL Consolidation feature with 10 tenants ? Kindly advice on this regard too..

Thank you so much and really appreciate your feedback.

Yashodha

Hello,

I’m not a Sales expert ... but I have a copy of Acumatica Licensing Guide 2023 October. Here is a screenshot that appears to offer additional tenants and Consolidation together, available for addition to Advanced and Enterprise levels of Acumatica:

If some of the 10 tenants could agree on the same chart of accounts, having some companies share one chart of accounts and be contained in one tenant can save your client some money and time.

Laura

Hi @Laura02 ,

When it comes to consolidations do we need to purchase an additional tenant always??

Thanks / Yashodha

Hello,

The tenant that holds the “corporate” chart of accounts can be the consolidation tenant, whether or not there are any other companies in that tenant along with the Corporate financial reporting company.

Laura

Hi @Laura02 ,

Could you please send me a user manual document for the consolidation of the financial statements in the same tenant. The applicable scenario is as follows. I have only found the user guides for the consolidations doing with the multiple tenants.

Scenario:

In one tenant we are going to have 05 multiple companies and at the end of the month we need to get the consolidated financial statements such as consolidated profit or loss and consolidated balance sheet.

Thanks / Yashodha