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Consolidations

Create binders for consolidations

Once you create the entities, create the binders.
important
Create the elimination binder first because it must be added to the consolidation binder.
  1. Select the
    Entity
     for the binder.
  2. Select
    Add
    ,
    Binder
    .
  3. Enter the name of the binder. This won't print on the return as it's only for reports and reference.
  4. Go to
    Charts
    .
    note
    Once chart assignments have been made for a binder, they can't be changed.
  5. Select
    Federal Chart of Accounts
    .
  6. Select the
    Charts of Adjustments
     for the elimination entity.
  7. Because adjustments are made at the lower entity levels (parent/sub/elimination), Charts of Adjustments don't need to be identified at the consolidation level.
  8. Go to
    Options
    .
  9. Verify the closing and rounding options.
  10. Enter a
    Round up to the Amount of:
     number
  11. Select
    Save
    .

This article applies to:

  • Product: ONESOURCE Income Tax
  • Return type: 1120 Corporation
  • Subject: Consolidations,Binders

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