GL Consolidation Configuration: To Configure the Parent Company

In the following implementation activity, you will learn how to configure the parent company to prepare it for GL consolidation.

Story

Suppose that the SweetLife Fruits & Jams company has established a subsidiary in Arizona that has been implemented in a separate tenant of MYOB Acumatica as a company without branches. The parent company, SweetLife, has to consolidate data from this company with its own data for reporting purposes.

Acting as a system administrator, you need to perform the needed configuration in SweetLife to prepare it for GL consolidation.

Process Overview

In this activity, you will enable the General Ledger Consolidation feature on the Enable/Disable Features (CS100000) form.

On the Companies (CS101500) form, you will create a subsidiary entity that represents the subsidiary company in the parent company. On the Company Financial Calendar (GL201100) form, you will open the financial periods up to 13-2023 for the new company.

On the Ledgers (GL201500) form, you will create a consolidation ledger. You will then update the chart of accounts on the Chart of Accounts (GL202500) form, and set up the consolidation on the Consolidation (GL103000) form.

System Preparation

Before you start configuring the parent company, launch the MYOB Acumatica website, and sign in to a company with the U100 dataset preloaded.

You should sign in as a system administrator Kimberly Gibbs by using the gibbs username and the 123 password.

Step 1: Enabling the Needed Feature

To enable the General Ledger Consolidation feature, do the following:

1. Open the Enable/Disable Features (CS100000) form.
2. On the form toolbar, click Modify to make it possible to change the set of selected features.
3. Select the General Ledger Consolidation check box in the Advanced Financials group.
4. On the form toolbar, click Enable to enable the selected feature.

Step 2: Creating an Access Role for Subsidiaries

To create an access role that you will use for the subsidiary entity, do the following:

1. Open the User Roles (SM201005) form.
   Tip:

   To open the form for creating a new record, type the form ID in the Search box, and on the Search form, point at the form title and click New right of the title.
2. Click Add New Record on the form toolbar, and specify the following settings in the Summary area:
   • Role Name: Subsidiaries
   • Role Description: Subsidiaries
3. On the Membership tab, click Add Row on the table toolbar, and select gibbs in the Username column of the row.
4. Click Add Row again, and select pasic in the Username column. This is the username of the accountant who will import consolidation data to the parent tenant.
5. On the form toolbar, click Save to save your changes.

Step 3: Creating the Subsidiary Entity

To create the subsidiary entity that represents SweetLife AZ, do the following:

1. Open the Companies (CS101500) form.
2. Click Add New Record on the form toolbar, and specify the following settings in the Summary area:
   • Company ID: AZENTITY
   • Company Name: AZ Subsidiary
   • Company Type: Without Branches
3. In the Main Address section of the Company Details tab, make sure that US - United States of America is selected in the Country box.
4. In the State box, select AZ - ARIZONA.
5. In the Access Role box (Configuration Settings section), select Subsidiaries.
6. On the form toolbar, click Save to save your changes.

Step 4: Creating the Consolidation Ledger

Step 5: Opening Financial Periods in the Subsidiary Entity

To open the periods of the 2023 financial year in the subsidiary entity that you created in Step 3, do the following:

1. Make sure that you are signed in as the gibbs user.
2. Open the Company Financial Calendar (GL201100) form.
3. In the Company box, select AZENTITY.
4. In the Financial Year box, select 2023.
5. On the More menu, click Open Periods.

   The Manage Financial Periods (GL503000) form opens with the Open option selected in the Action box of the Summary area.

6. In the table, select the unlabeled check box for the row of the 13-2023 period.
7. On the form toolbar, click Process. The system displays the Processing dialog box.
8. Close the Processing dialog box when the processing is completed.

Step 6: Updating the Chart of Accounts

To add a GL account that will consolidate the balances of all cash accounts from the subsidiary company, do the following:

1. Open the Chart of Accounts (GL202500) form.
2. Click Add Row on the form toolbar, and specify the following settings in the added row:
   • Account: 10000
   • Account Class: CASHASSET
   • Type: Asset (inserted automatically)
   • Description: Cash Account
   • Post Option: Summary
3. On the form toolbar, click Save.

Step 7: Setting up the Consolidation

To set up GL consolidation in the parent company, do the following:

1. Open the Consolidation (GL103000) form.
2. In the Summary area, leave the Consolidation Segment Number box empty.
3. On the toolbar of the table listing the consolidation rules, click Add Row, and specify the following settings in the row you have added:
   • Consolidation Branch: AZENTITY
   • Consolidation Ledger: CONSOL
   • Consolidation Unit: AZ_Subsidiary
   • Username: admin@AZ_Subsidiary
   • Password: 123
4. In the URL column, enter the address of the consolidation unit website.
   Note:

   For example, if you are performing this activity on the tenant installed on your local computer, your URL could be the following: http://localhost/F300/.
5. On the form toolbar, click Save.
6. Make sure that the check box in the Active column of the added row is selected.
7. Select the unlabeled check box for the row in the table, as shown in the following screenshot.

   
   
   

8. On the form toolbar, click Synchronize.

   When the synchronization is complete, the boxes related to the subsidiary company become available for selection.

9. In the row with the consolidation setup for AZ_Subsidiary, specify the following settings:
   • Source Ledger: ACTUALAZ
   • Source Company/Branch: SWEETAZ
   • Start Period: 11-2023
10. On the form toolbar, click Save. The consolidation-related data in the parent and child tenants has been synchronized. As a result of the synchronization, the parent has received information about the subsidiary consolidation ledger and the branches that use the ledger, while the child tenant has received the list of the consolidated accounts for mapping. The consolidation result is shown in the following screenshot.