Consolidated Ledger > Consolidation Processes

Once you have set up the Consolidated Ledger module, the next step is to map the subsidiary company’s chart of accounts to the consolidation company’s GL Account IDs. Mapping is performed in the consolidation company for one subsidiary company at a time.

The following are the salient points when mapping the chart of accounts:

•You can either manually or automatically map the subsidiary company’s GL account IDs to those of the consolidation company.

•AccountMate does not require the subsidiary and the consolidation company to have the same GL segment definition in order to successfully map a subsidiary company’s chart of accounts to the consolidation company’s chart of accounts. For example, a subsidiary’s Cash-in-Bank-BOFA with 110100-100-00 GL Account ID can be mapped to the consolidation company’s Cash-in-Bank-General with 110100-000-00 GL Account ID. Both accounts should have similar account category such as Current Assets.

•The number of GL Account IDs in the consolidation company’s chart of accounts may be different from that of the subsidiary company. What is important is that all of the subsidiary company’s GL Account IDs must be mapped to the consolidation company’s GL Account IDs so that the subsidiary company’s account balances will be consolidated to the consolidation company. For example, balances from several petty cash accounts in the subsidiary company can be consolidated into a single account in the consolidation company.

•The account category labels assigned to the consolidation and subsidiary companies’ GL Account IDs to be mapped need not be similar (e.g., Current Assets and Fixed Assets); however, their account types (e.g., assets, liabilities, capital/stockholder’s equity) must be the same. For example, it does not matter when a subsidiary company has a Capital asset account named “Plant & Equipment” and designated as GL Account ID 201-1387 and the related consolidation company Capital asset account into which its values are to be consolidated is called “Fixed Assets” and is designated as Account ID 1-1200-4890.

•The subsidiary and consolidation companies’ GL Account IDs to be mapped do not need to be identical; however, you can only map identical GL Account IDs if the subsidiary and consolidation companies have identical GL account structure.

•The subsidiary’s GL Account IDs can be mapped only to the consolidation company’s posting GL Accounts (i.e., not to allocation GL accounts).

•The subsidiary’s GL Account IDs can be mapped only to the consolidation company’s GL Account IDs with active status.

•The subsidiary’s GL Account IDs cannot be mapped to the consolidation company’s “Translation Adjustment” GL Account ID.

Before mapping the subsidiary company’s chart of accounts to the consolidation company, verify the following:

•The consolidation company has an existing chart of accounts. If the consolidation company’s chart of accounts has not been set up, you can either set up the GL Account IDs or copy the chart of accounts from similar existing companies.

•The subsidiary company is assigned to the consolidation company using the Company Setup function in the AccountMate Administrator program.

•The subsidiary’s chart of accounts has been set up.

To map the subsidiary company's chart of accounts to that of the consolidation company, perform the steps below:

1.Access the Chart of Accounts Mapping function from the Mapping group in the Maintenance main menu.

2.In the Selection Criteria Page, choose between these options on how to map your subsidiary GL Account IDs to the consolidation company: Map Identical Accounts, Map Using Major Segment Values, or Map 1 Consolidation Company Account to Range of Subsidiary Company Accounts.

3.Review the results of automatic mapping of the accounts in the Account Mapping Page. You may also make changes in the account mapping manually in this page.

4.When you are ready, click the Save button to save your settings; otherwise, click Cancel.

Map Chart of Accounts

Map Chart of Accounts

See Also