If you have more than one company in Business Central, the Consolidated Trial Balance report on the Accountant Role Center can give you an overview of the financial health of your overall business.
The report combines general ledger entries from each of your companies in a new company that you create to contain the consolidated data. This company is typically referred to as the "consolidated company". The consolidated company is just Consolidating assets definition business container for the consolidated data, and does not have any live business data.
The companies that you include in the consolidated company become Business Units in the report. Consolidating financial data may especially be relevant in connection with intercompany processes. For more information, see Managing Intercompany Transactions.
If your consolidation is straightforward, Consolidating assets definition business example because you wholly-own the business units to consolidate, the Company Consolidation assisted setup guide will help you through the following steps:. If you need more advanced settings for your consolidation, you can set up consolidation manually. You set up the consolidated company in the say way that you set up other companies. For more information, see Getting Ready for Doing Business.
Business Central lets you set up a list of companies Consolidating assets definition business consolidate, verify the accounting data before you consolidate it, import files, and generate consolidation reports. If your Consolidating assets definition business unit uses a foreign currency, you must specify the exchange rate to use in the consolidation.
You must also enter consolidation information about the business unit's general Consolidating assets definition business accounts. These processes are described in the following sections. If the chart of accounts in the business unit differs from the consolidated Consolidating assets definition business, you must prepare general ledger accounts for consolidation.
You can specify the accounts to post debits and credits to, and the method to use to translate currencies in the consolidated company. For example, this is useful if you frequently run the report.
business unit uses a different currency than the consolidated company, you must specify exchange rate methods for each account before you consolidate.
For each account, the
Consolidating assets definition business of the Consol. Translation Method field determines the exchange rate. On each business unit card, in the Currency Exchange Rate Table field, you specify whether consolidation will
Consolidating assets definition business exchange rates from the business unit or the consolidated company.
If you use exchange rates from the consolidated company, you can change the exchange rates for a business unit. For business units, if the Currency Exchange Rate Table field on the business unit card contains Localyou can change the exchange rate from the business unit card. The exchange rates are copied from the Currency Exchange Rate table, but you can change them before consolidating.
If you do not want to include a business unit in the consolidation, Consolidating assets definition business can exclude it. To do that, go to the business unit card, and clear the Consolidate check box. If you own only part of a company, you can include a percentage of each transaction that corresponds to the percentage of the company you own. You can test your data before you transfer it to the consolidated company. Business Central looks for differences in the information in the business units and the company.
For example, whether account numbers or dimension are different. Consolidating assets definition business must correct errors before you can run the report. You can test the database or, if you are importing data Consolidating assets definition business an XML file, you can test the file.
Choose the icon, enter Business Unitsand then choose the related link. If data for a business unit is in another database, you must export the data to a file before you can include it in the consolidation. Each company must be exported separately. For this purpose, use the Export Consolidation batch job. After you run the batch job, all entries in general ledger accounts are processed. For every combination of Consolidating assets definition business dimensions and date, the contents of the entries' Amount fields are totaled and exported.
The next combination of selected dimensions and date with the same account number is processed, then the combinations in the next account number are processed, and so on. exported entries contain the following fields: If dimensions information was also exported, dimension codes and dimension values are also included. Our new feedback system is built on GitHub Issues. Read about this change in our blog post.
Across companies that have different charts of accounts. Companies that use different
Consolidating assets definition business years and different currencies. If you Consolidating assets definition business need advanced settings, such as including a company that you only own part of, you can use the Company Consolidation assisted setup guide to quickly set up a consolidation. The guide helps you through the basic steps. If you do need
Consolidating assets definition business advanced settings, you can set up the consolidated company and business units yourself.
To do a simple consolidation setup If your consolidation is straightforward, for example because you wholly-own the business units to consolidate, the Company Consolidation assisted setup guide will help you through the following steps: Choose whether to create a new consolidated company, or whether to consolidate the data in a company that you have already created for the consolidation. The company should not contain transactions.
Business Central verifies that the
Consolidating assets definition business data and transactions can be successfully transferred to the consolidated company. To use the assisted setup guide, follow these steps: Choose Set up consolidation reportingand then complete each step in the assisted setup guide.
To do an advanced consolidation setup If you need more advanced settings for your consolidation, you can set up consolidation manually. Sign in to the consolidated company.
Choose Newand then fill in the required fields. To prepare general ledger accounts for consolidation If the chart of accounts in the business unit differs from the consolidated company, you must prepare general ledger accounts for consolidation.
Choose the Consolidating assets definition business, enter Chart of Accountsand then choose the related link. Open the card for the account, and then fill in the fields on the Consolidation FastTab. To Consolidating assets definition business exchange rates for consolidations If a business unit uses a different currency than the consolidated company, you must specify exchange rate methods for each account before you consolidate.
Consolidating assets definition business following table describes the exchange rate methods you can use for accounts. Exchange rate Typical use Average Rate Consolidating assets definition business manually calculate the average rate the period to consolidate. Calculate
Consolidating assets definition business average either as an arithmetic average or as a best estimate, and specify the result for each business unit.
Used for income statement accounts. Closing Rate Used for balance sheet accounts. Last Closing Rate The
Consolidating assets definition business that was valid in the foreign exchange market on the date for which the balance sheet or income statement is being prepared.
You enter this rate for each business unit. Used for balance sheet accounts. Historical Rate The exchange rate that was valid when the transaction occurred.
Composite Rate The current period amounts are
Consolidating assets definition business at the average rate and added to the previously recorded balance in the company. This method is typically used for retained earnings accounts because they include amounts from different periods and are therefore a composite of amounts translated with different exchange rates.
Equity Rate This is similar to Composite. Differences are posted to separate general ledger accounts. To specify exchange for business units, follow these Consolidating assets definition business Rate field have been copied from Currency Exchange Rate table, but you can modify them. Choose the Closing Rate action. In the Relational Exch.
Rate Amount field, enter the exchange rate.
To exclude a company from consolidation If you do not want to include a business unit in the consolidation, you can exclude it. To include a partially-owned company in consolidation If you own only part of a company, you can include a percentage of each transaction that corresponds to the percentage of the company you own.
To test the data before you consolidate You can test your data before you Consolidating assets definition business it to the consolidated company. Open the consolidated company. Do one of the following: To test a file, choose the Test File action, enter the name of the file to test, and then choose Print. To test the database, choose Test Database. To run the consolidation After you have tested the data, can transfer it to the consolidated company.
Fill in the required fields. In the Where field, choose Company Nameand then choose the consolidated company in the is field. To export and import consolidated data between databases If data for a business unit is in another database, you must export the data to a file before you can include it in the consolidation. For
Consolidating assets definition business exported line, if the total of the Amount fields is Consolidating assets definition business debit, the account number that is Consolidating assets definition business up in the business Consolidating assets definition business Consol.
If the total is a credit, the corresponding number in Consolidating assets definition business Consol. The date for each exported line is either the period's ending date or, if the transfer occurs each day, the exact date of the calculation. The dimension value exported for the entry will be the consolidated company
Consolidating assets definition business value that is set up in the Consolidation Code field Consolidating assets definition business that dimension value.
If no consolidated company dimension value has been entered in the Consolidated Code field for that dimension value, the dimension value itself will be exported to the line. The XML files also contain the currency exchange rates in the consolidation period. These rates are included in a separate section at the beginning of the file. Choose the type you'd like to provide: