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Consolidate client data

Consolidate client information

You'll need to have a master client already created.
You can use the
Consolidate Clients
 screen to combine account and balance data from multiple subsidiary client records into 1 master client record, while retaining data in the original client records. You can use the consolidated client data for reporting purposes and for making cross-company comparisons.
The consolidation process assigns each subsidiary a number and gathers total balances for each subsidiary's account for the selected basis. A segmented chart of accounts is then created in the consolidated master based on the selected grouping type where the 1st segment is the subsidiary number and the core segment is the grouping type. You can then create specific journal entries in the consolidated client, print reports based on consolidated or segmented numbers, and export pertinent data to your tax application.
Do the following to consolidate client information:
  1. Select
    Actions
    , then
    Consolidate Clients
    .
  2. Select the master client from the client section field. Note that when you're on this screen, only master clients are available for selection.
  3. In the grid, mark the checkboxes for the clients to include in the consolidation.
  4. Go to the
    Grouping Type
     section and select the method you want to use to consolidate the accounts.
  5. If you select the
    Account Grouping
     method, mark the
    Include subcode detail
     checkbox to have the application create the accounts in the consolidated master client by the code and then subcode, separated by a decimal point. If you don't mark this checkbox, the application creates accounts in the master client by the selected account grouping code.
  6. Mark the
    Retain existing accounts
     checkbox if you want to keep the existing Chart of Accounts as is. The application keeps all accounts and journal entries that were entered directly into the consolidated master client. You may want to leave the checkbox marked in the following situations:
    • You've added journal entries or accounts into the consolidated master client that you want to keep after reconsolidating.
    • You've created any custom account grouping or tax code assignments in the consolidated master client that you want to keep after reconsolidating.
  7. Select how to consolidate the account balances in the
    Balance Type
     section. Note that the application consolidates balances automatically for the selected years, regardless of the balance type selected.
  8. Mark the
    Include budget balances
     checkbox to consolidate all budget balances from each subsidiary client into the master client.
  9. Select the date range to consolidate balances for in the
    Periods
     section.
  10. Select
    Consolidate Selected
     to save the options and initiate the consolidation.

This article applies to:

  • Subject: Consolidations

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