Consolidating Chart-Mapped Company Balances

After you create the appropriate chart maps and fiscal year maps for each posting company to include in the reports of the reporting company, you can post the balance for each posting or mapped company to the reporting company. The balance is converted, using translation rates, to the base currency of the reporting company and posted in the base currency of the reporting company.

To consolidate chart-mapped company balances

  1. Run Period Closing (GL199) for the fiscal year and period you want to close on each company mapped to your reporting company. Use the following guidelines to enter field values:
    Fiscal Year and Period

    Select the period and fiscal year you want to close. If left blank, the current period and year defaults. If you opened a previous period for backposting, make sure you select that period here instead of accepting the default.

    The following rules apply to closing periods:

    • You must close periods consecutively

    • You cannot skip a period when closing

    • You cannot close a future period

    • There cannot be unprocessed, unreleased, released, or quick-posted journal entries for the period you are closing

    Final Close Last Year

    Allows users to final close all periods in the last year for a company or company group. If a period in last year is not Limited Closed, then only the periods prior to that period will be Final Closed. If a period is Final Closed the program will move on to the next period.

    Closing Option

    Select the period closing option. The default is Limited Close, which lets you backpost. Select Next Year Beg Bal to calculate beginning balances for next year at any time during the current fiscal year. This option only updates balances and does not perform any closing activities. Select Final Close only once each period. This option does not let you backpost.

    You cannot close the current year until the last year is at final close status. You also cannot close a future period.

    Note: A chart map must exist between each posting and reporting company. If the posting company and the reporting company have different fiscal years and periods, a fiscal year map must also exist between the two companies. If no fiscal year map exists, GL135 assumes the same year and period for the reporting and the posting company.
    Note: If you mapped your posting company fiscal year and periods to the reporting company fiscal year and period, check your fiscal year map before you run GL135 to verify that your balances will be posted to the correct year and period.
  2. Run Intercompany Chart Map Posting (GL135), one company at a time, to post the balances of each mapped company to a specific fiscal year and period of the reporting company. Use the following guidelines to enter field values:
    From Company, Fiscal Year, and Period

    In the From Company Fiscal Year and Period fields, type the year and period to post to the reporting company. The posting company fiscal year and period must have a Limited Close or Final Close status.

    Account Detail

    To print the subaccount detail information, in the Account Detail field, select S (Subaccount). To summarize the subaccounts at the account level, select A (Account).

    Update

    To produce a report without updating the general ledger accounts, in the Update field, select N (No). To produce a report and update the general ledger accounts, select Y (Yes).

  3. After running Intercompany Chart Map Posting (GL135) for the same reporting company period on each posting company, run Journal Posting (GL190) on the reporting company for that period.