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Federal consolidation checklist

  1. All the individual entities are in balance.
  2. Check
    Access
    ,
    Diagnostics and Overrides
     for the individual entities.
  3. Make sure all entries to Organizer have been made at the same level.
  4. Re-compute each entity on the latest version of the product.
  5. Verify if the state file uses different entities than the federal.
    1. If so, check if there's a separate consolidation and elimination return for the state.
  6. If using Summary A&A, make sure the area's activated and the information entered in the data entry or Organizer/Overrides folder in each parent and subsidary.
  7. Make sure all state general information was entered in the parent and subsidiary return.
  8. Has the state you're combining been activated for each entity within the combined report, including the elimination return?
  9. Review and perform state combined processing instructions.
  10. Enter detail for a few forms in the Top Consolidation.
  11. Enter eliminating entries. All reverse amounts should be entered as a negative.
  12. Indicate the state to combine on the consolidation return.
  13. Consolidate TAS with the Organizer - Subsidiary listing selected.
  14. Review members.
  15. Select forms to consolidate.
  16. Indicate the state to combine on the consolidation return.
  17. Activate all states to be combined.
  18. Compute all members, including the elimination return.
  19. Enter consolidated overrides.
  20. Select print and calculation options.
  21. Perform the consolidation in Organizer.
  22. Review each combined state from the Tax Form Combined Report.
  23. Check
    Access
    ,
    Diagnostics and Overrides
     in the consolidated return.
  24. Print the state combined return.

This article applies to:

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

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