Defining a consolidation company from scratch

Use this procedure if your consolidation company structure does not match the From company structure.

  1. Access Company (GL10.1).
    Note: For best results, assign the same chart of accounts and define the same number of levels for the consolidation company and each source company.
  2. Create the company. Consider the two succeeding fields, which are specific to a consolidation company created for currency translation purposes:

    On the Main tab, specify the value for the field:

    Status

    Select Consolidation (C) in this field to indicate that this company is used to hold consolidated financial information for an organization.

    Note: You consolidate financial information by translating balances from one or more General Ledger companies to the designated consolidation company when you run Translation Calculation (GL195) during period close.
  3. On the Currency tab, specify the value for the field:
    Translation

    Select Yes.

  4. On the Address tab, specify the value for the field:
    Address Code

    Select the Address Code you want to assign to the company listed in the Company field.

    Note: If you use this procedure to define a consolidation company, then you must also define accounting units on Accounting Units - Accounts (GL20.1).