Create and Approve Consolidation Proposal for Subsidiary

This document explains how to create a consolidation proposal with balances for the subsidiary's balance sheet and income statement.

Outcome

The consolidation proposal is approved and made available to the parent company. The accounts in the proposal agree with the chart of accounts of the parent company.

The parent company processes the approved consolidation proposal in 'Consolidation Proposal. Update' (GMS320).

All general ledger transactions included in the approved consolidation proposal have status 9 in the 'Transferred to group consolidation' field in 'General Ledger. Display Transactions' (GLS211/F).

Before you start

Follow These Steps

Create Consolidation Proposal

  1. Start 'Consolidation Proposal. Create/Transfer' (GMS200).

  2. Select whether to create a proposal for general ledger or budget balances.

  3. Enter a unique ID for the proposal. Click Create.

  4. On the E panel, enter a name and a range of accounting dates that will be the limits for the transactions at the subsidiary to be included in the transfer.

    Note: Make sure the accounting dates do not overlap the dates selected for an existing proposal. If you delete a proposal, the consolidation status will be reset for all consolidated transactions within the accounting dates for that and any other proposals with the same or overlapping accounting dates. However, if the proposal does not contain any transactions at all, you can delete the proposal even if the accounting dates overlap; this does not reset the consolidation status.
  5. Press Enter to create the proposal and return to the B panel where the proposal is displayed with its status.

    Available statuses are:

    1=The proposal is being created.

    2=The proposal has been created. All transactions included in the consolidation have transfer status 8 (included in a consolidation proposal) in 'General Ledger. Display Transactions' (GLS211/F).

    3=The approved proposal is being transferred to the parent company.

    4=The transfer to the parent company is completed. All consolidated transactions have status transfer status 9 (transferred) in (GLS211/F).

    5=The proposal is being deleted. If the proposal has not been transferred to the parent company, the transfer status is reset to 0 in (GLS211/F) for all transactions within the range of accounting dates selected for the proposal.

    8=The transfer status is being reset to 0 for all consolidated transactions that received status 9 (transferred to parent company) in (GLS211/F) in the selected range of accounting dates.

Verify Consolidation Proposal

  1. In (GMS200/B), select option 6=Print for the proposal.

  2. If there are any discrepancies in a proposal with general ledger balances, adjust the figures by:

    • Adjusting the settings for any account conversion in 'Account Conversion. Open Table' (GMS200).
    • Selecting a different conversion method for the balance accounts in 'Accounting Identity. Open' (CRS630/F).
    • Entering a corrective journal voucher in 'Journal Voucher. Open' (GLS100).
    • Verifying that the settings are correct in 'Settings – Subsidiary' (GMS010) and 'Settings – Transfer of General Ledger' (GMS015).
  3. When the corrections are made, select one of the following alternatives, delete the proposal by selecting the Delete option, and create a new one.

Approve Consolidation Proposal

  1. In (GMS200/B), approve the proposal and transfer it to the parent company by selecting option 9='Transfer proposal'.

Recreate Already Transferred Consolidation Proposal

  1. If you have already approved and transferred a consolidation proposal to the parent company, but realize that it must be recreated for some reason, select option 8='Reset transfer status' for the transferred proposal.

    The transfer status of all transactions within the range of accounting dates selected for the proposal is reset from 9 to 0 i (GLS211/F).

  2. Create a new proposal.

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