Changing the Reports-To Financial Entity

Open the Change Reports to Entity form.
Specify this information:

Reports To

Select the entity to which the site reports for purposes of financial consolidation. If this field is blank, then this site does not report to an entity. The default value is blank.

Maintain Chart Mapping

Select this check box if you do not want to overwrite the Reports To accounts specified in the current site's chart of accounts. The system does not verify that the accounts exist in the new Reports To entity. Clear this check box if you want to blank out the Reports To accounts in the current site's chart of accounts so that you can remap all of the Reports To accounts to the new entity's chart of accounts. This field is disabled until you select an entity.

Post Balances

Select this check box to calculate balances for each account in the site. Using the cutoff date, the system creates two reversing ledger transactions for each account's balance, which represent the closing and opening balances for the old and new hierarchy structure. The system then posts the closing balance up the old hierarchy and changes the Reports To designation. To finish the process, run the Ledger Consolidation utility to post the opening balances up the new hierarchy.

Cutoff Date

Select the date to use as the cutoff for the previous entity. The effective date that the site begins reporting to the new Reports To entity is the day after the selected cutoff date. This date cannot be earlier than the date the database itself was created.

Currency Translation Date

Select date to use for the currency translation method during financial consolidation. The current date is displayed by default. During consolidation, the system looks for a currency exchange rate with the date you specify here, and then uses this rate for the consolidation. The system then books the offsetting balance to the cumulative translation adjustment account.
Click Process to run the utility.