TRAVERSE Global v11.1

Consolidate Chart of Accounts

Use the Consolidate Chart of Accounts function to consolidate the account balances from one GL Master to another. You can also use this function to consolidate the accounts from several GL Masters into one file.

You must set up a Consolidate To account number with a step from 1 to 9 in the Chart of Accounts function on the Setup and Maintenance menu prior to running the Consolidate Chart of Accounts. When you set up the consolidate to account number the account number must exist in both the source and destination company.

Only companies with identical account masks can be consolidated.

Caution: If you use the Consolidate Chart of Accounts function to consolidate a company with another active company, TRAVERSE adds the balances of the "from" company to those of the "to" company. If you want to preserve account balances as they are, you can print consolidated statements for the companies instead of physically combining them (see below).

ClosedPrint Consolidated Financial Statements

You do not have to use this function to print consolidated financial statements. To print consolidated financial statements for multiple companies, use one of these methods:

  • Use the Financial Statements function to print statements for two or more companies.
  • Set up the statement contents to print consolidated statements for the companies.

If you use the Consolidate Chart of Accounts function to consolidate a company with another active company, the balances of the company consolidated to are overwritten. Instead, print consolidated statements for the companies (see above).

ClosedConsolidate Companies

Use one of the following methods to consolidate companies:

  • Consolidate all companies into one GL Master. For example, to include the accounts of a department at a branch office, consolidate that company's accounts with those of a company in the GL Master at your main office. Then you can use the consolidated company in statements with other companies in the main office's GL Master.
  • Consolidate the companies into two or more GL Masters; for example, to print separate consolidated statements for several departments.
ClosedConsolidate for the First Time

Before you consolidate the first time, use the Chart of Accounts function to specify the main company's accounts with which the branch company's accounts are to be consolidated.

You can consolidate in steps to provide an audit trail. For example, you might consolidate all asset accounts in one step, all liability accounts in the next step, and so on.

ClosedConsolidate GL Master tables

Follow these steps to consolidate GL Master tables:

  1. Print the Chart of Accounts List to verify that the branch company's accounts are set up to consolidate with the main company's accounts.
  2. Use the Consolidate Chart of Accounts function to consolidate the branch GL Master tables with the main GL Master table.
  3. Print the consolidated financial statements.
ClosedConsolidating the Chart of Accounts
  1. Select the companies for which you want to consolidate from the Company From section. All companies selected must use the same account mask. Existing companies with compatible account masks appear in the window.
  2. The current company you are working with is displayed in the To field as the company to which you want to consolidate, and cannot be changed.

    If this is not the correct To company, then you must exit the function, change companies, and then select this function from that menu.

  3. Enter the first consolidation From Step fields. Only those accounts that were set up in the Chart of Accounts function with a “Consol to Account” and “Step” fields will be affected.
  4. Enter the Thru Step for the consolidation step needed. If you have only one-step consolidation, then this value will be the same as the From Step field.
  5. Enter, if applicable, any comments to associate with the consolidation of accounts in the Comments field.
  6. Click a command button to
    Select To
    OK Begin consolidating the chart of accounts.
    Activity Open the Activity Log dialog box where you can view information about previous actions, including run time, user ID, and comments.
    Reset Set all fields to their default values.