AccountMate 7 for SQL and Express: CL

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Corporation

AccountMate’s Consolidated Ledger module provides the ability to quickly
combine several companies’ account balances and budget information into a single unified ledger to present consolidated financial statements and other reports.

It supports consolidation for companies with different reporting currencies, making it ideal for multi-national organizations with foreign operations.

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AccountMate 7 for SQL or Express
Consolidated Ledger Module

Automatic Account Mapping Options

You can automatically map all or a range of accounts in the subsidiary company to accounts in the parent or you can map a single parent company account to multiple accounts in the subsidiary company.

Unlimited Number of Subsidiaries

AccountMate’s Consolidated Ledger can support as many subsidiary companies as desired for each parent company.

Automatic Account Mapping

Fiscal Period Mapping

Consolidated Ledger provides the ability to map the parent company's fiscal periods to each subsidiary's fiscal periods. This is especially useful when a subsidiary company's fiscal year covers a range of dates different from that of the parent company's fiscal year.

Consolidate Account and Budget Balances

You can consolidate budget balances as well as account balances, allowing you to more effectively manage your business.

Internal Checks Help Prevent Consolidation Errors

The Consolidated Ledger detects any conflicts that affect a consolidation such as accounts or fiscal periods that have not been mapped. If a conflict is detected, the operation is aborted giving you the ability to resolve the problem while preventing conflicting data from affecting the parent company’s account balances.

Consolidation Control Totals

The net retained earnings value consolidated from a subsidiary's accounts or budget can be displayed to check against the control amount expected.

Unlimited Number of Consolidations per Period

You are able to consolidate each subsidiary’s General Ledger data to its parent’s General Ledger at any time in order to view updated financial information. During year-end closing, a final consolidation of information is automatically performed by the system. In addition, you can always choose to undo consolidation of the subsidiary's financial data as long as Fiscal-Year End Closing has not been performed in the subsidiary company.

Posting Period Restrictions

You can restrict postings and consolidation to any specified period in the parent company. This maintains the integrity of General Ledger data that has already been included in consolidated reports.

Support Consolidation for Companies with Different Reporting Currencies

This feature makes it possible to consolidate subsidiary companies that are assigned a currency that is different from the parent company’s currency. The consolidation uses the exchange rates the users define, eliminating the need to manually prepare the consolidated financial statements for multi-national companies.

Other Features

Change a company’s setting from no consolidation to either a parent or subsidiary account status for consolidation
Review date and time of previous consolidation

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