Consolidated Ledger > Set Up CL Module Parameters

The CL Module Setup function allows you to set up parameters within which you can utilize the Consolidated Ledger module. This function defines the controls that will be applied during consolidation of account balances.

To set up the default values for various records and transactions in the CL module, perform the following procedures:

1.Access the CL Module Setup function from the Setup group in the Maintenance main menu of the Consolidated Ledger module.

2.Review the consolidation company’s details including the current year, home currency, fund accounting setting, and IFRS setting.

3.Review the consolidation rates used for assets and liabilities and equities; then, click the List box button beside the Income, Expense, and Cash Flow field and choose either of the following:

oDaily Rate

Choose this option if you want to configure AccountMate to use the daily rate (i.e., rate of the dates when the income, expense, and cash flow transaction occurred) to translate the foreign income, expense, and cash flow account balances into the consolidation company’s home currency.

oAverage Rate

Choose this option if you want to configure AccountMate to use the average rate (i.e., average rate for the fiscal year) to translate the foreign income, expense, and cash flow account balances into the consolidation company’s home currency.

Note: You can change the Income, Expense, and Cash Flow Rate setting until consolidation is performed. Once consolidation is performed for any one of the subsidiaries, you can no longer change the setting in this field.

4.In the Subsidiaries section perform these steps:

4.1. Review the read-only subsidiary company information shown in the grid (e.g., home currency, current year, IFRS setting, fund setting, and consolidation status).

4.2. Mark the checkbox that corresponds to each subsidiary that you want to assign to the consolidation company. Click on the buttons at the top of the grid to add or to remove subsidiaries from the grid.

Notes:

•Once consolidation is performed for the subsidiary, it can no longer be removed from the CL Module Setup grid; however, you can add subsidiaries at any time.

•A company can be a subsidiary of more than one consolidation companies.

•A consolidation company can never be a subsidiary.

•International Financial Reporting Standards (IFRS) settings must be identical for the consolidation company and all its subsidiaries.

•Subsidiary companies with inactive status are ineligible for consolidation.

4.3. Enter in the Consolidate Through field the last transaction date for the transactions that will be consolidated. All transactions recorded after the date specified in this field will be excluded from the consolidation. Leave this field blank until the subsidiary company is deactivated and you no longer expect to consolidate its data.

4.4. Review the read-only subsidiary company information shown in the grid (e.g., home currency, current year, IFRS setting, fund setting, and consolidation status).

5.Click Save to save your settings; otherwise, click Cancel.