GL Consolidation: To Prepare the Consolidation Unit

The following activity will walk you through the process of preparing the consolidation unit (a subsidiary company) for consolidation data import.

Story

Suppose that the management of the SweetLife AZ company decided to prepare the system for further GL consolidation. The trial balances for November and December 2022 have been transferred from the company's legacy system to Excel files and need to be uploaded to MYOB Advanced.

Acting as the system administrator of SweetLife AZ, you need to prepare the consolidation unit for GL consolidation by mapping its GL accounts with the GL accounts of the parent company and to import the trial balance of SweetLife AZ for the 11-2022 and 12-2022 periods.

Configuration Overview

The AZ_Subsidiary company (the consolidation unit) has been created and configured as described in GL Consolidation Configuration: To Configure a Consolidation Unit.

In the parent company with the U100 dataset, the following configuration tasks have been performed to prepare the system for this activity:

  • On the Enable/Disable Features (CS100000) form, the General Ledger Consolidation feature has been enabled.
  • On the Companies (CS101500) form, the AZENTITY company that represents the consolidation unit in the parent company has been configured. On the Company Financial Calendar (GL201100) form, financial periods up to 13-2022 have been opened for the company.
  • On the Ledgers (GL201500) form, a consolidation ledger has been created.
  • On the Consolidation (GL103000) form, data synchronization has been performed between the parent company and the consolidation unit.

For details, see GL Consolidation Configuration: To Configure the Parent Company.

Process Overview

In this activity, on the Chart of Accounts (GL202500) form, you will map the accounts of the consolidation unit with the parent company accounts by uploading an Excel file.

On the Trial Balance (GL303000) form, you will upload the Excel files with trial balances for the 11-2022 and 12-2022 periods. On the Journal Transactions (GL301000) form, you will release the GL transactions generated by the system.

System Preparation

To prepare the system, do the following:

  1. Launch the MYOB Advanced website, and sign in to the AZ_Subsidiary tenant. You should sign in as the system administrator by using the admin username and the 123 password.
  2. As a prerequisite activity, in the tenant to which you are signed in, be sure you have configured the consolidation unit as described in GL Consolidation Configuration: To Configure a Consolidation Unit.
  3. As a prerequisite activity, in the parent company (the company with the U100 dataset preloaded), be sure that you have performed data synchronization as described in GL Consolidation Configuration: To Configure the Parent Company.
  4. Download the AZ_Subsidiary_COA_with_Mapped_Accounts.xlsx, SWEETAZ_Trial_Balance_11-2022.xlsx, and SWEETAZ_Trial_Balance_12-2022.xlsx files.

Step 1: Mapping Accounts

Note: For the purposes of this step, the accounts have been mapped in an Excel file. To reduce the time for data entry, you will upload a chart of accounts with the accounts mapped, and then map four accounts manually.

To map the accounts of the consolidation unit with the parent company accounts, do the following:

  1. Open the Chart of Accounts (GL202500) form.
  2. On the form toolbar, click Load Records from File.
  3. In the File Upload dialog box, which opens, select the file path to the AZ_Subsidiary_COA_with_Mapped_Accounts.xlsx file that you downloaded for this activity, and click Upload.
  4. In the Common Settings dialog box, which opens, select Update Existing in the Mode box, and click OK.
  5. In the Columns dialog box, leave the current mapping, and click OK.

    The system uploads a chart of accounts with accounts from the parent company specified in the Consolidation Account column. All the accounts have been mapped, except for four cash accounts. You need to map them manually.

  6. In the row for 10200 - Company Checking Account, specify 10000 in the Consolidation Account column.
  7. In the row for 10300 - Company Savings Account, specify 10000 in the Consolidation Account column.
  8. In the row for 10500 - Cash in Transit, specify 10000 in the Consolidation Account column.
  9. In the row for 10600 - Credit Card Account, specify 10000 in the Consolidation Account column.

    The amounts posted to these accounts will be consolidated in the 10000 - Cash Account in the parent company.

  10. On the form toolbar, click Save.

Step 2: Importing Trial Balance for 11-2022 to the System

To import the trial balance for 11-2022 of SweetLife AZ and post the transaction, do the following:

  1. Open the Trial Balance (GL3030PL) form.
  2. On the form toolbar, click New Record.
    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.
  3. On the Trial Balance (GL303000) form, which opens, specify the following settings in the Summary area:
    • Import Date: 11/30/2022
    • Period: 11-2022 (inserted automatically)
    • Branch: SWEETAZ (inserted by default)
    • Ledger: ACTUALAZ
    • Description: 11-2022 TB import
  4. On the table toolbar of the Transaction Details tab, click Load Records from File.
  5. In the File Upload dialog box, select the SWEETAZ_Trial_Balance_11-2022.xlsx file and click Upload.
  6. In the Common Settings dialog box, leave the default settings and click OK. In the Columns dialog box, click OK.

    The system uploads the trial balance for the 11-2022 period on the Transaction Details tab.

  7. In the Action box, make sure that the Validate option is selected.
  8. On the table toolbar of the Transaction Details tab, click Process All.
  9. On the form toolbar, click Remove Hold, and then click Release to release the trial balance.

    The system navigates to the Journal Transactions (GL301000) form and displays a transaction with the uploaded balances.

  10. On the form toolbar, click Release to release the transaction.

Step 3: Importing Trial Balance for 12-2022 to the System

To import the trial balance for 12-2022 of SweetLife AZ and post the transaction, do the following:

  1. Open the Trial Balance (GL3030PL) form.
  2. On the form toolbar, click New Record.
  3. On the Trial Balance (GL303000) form, which opens, specify the following settings in the Summary area:
    • Import Date: 12/30/2022
    • Period: 12-2022 (inserted automatically)
    • Branch: SWEETAZ (inserted by default)
    • Ledger: ACTUALAZ
    • Description: 12-2022 TB import
  4. On the table toolbar of the Transaction Details tab, click Load Records from File.
  5. In the File Upload dialog box, select the SWEETAZ_Trial_Balance_12-2022.xlsx file and click Upload.
  6. In the Common Settings dialog box, leave the default settings and click OK. In the Columns dialog box, click OK.

    The system uploads the trial balance for the 12-2022 period on the Transaction Details tab.

  7. In the Action box, make sure that the Validate option is selected.
  8. On the table toolbar of the Transaction Details form, click Process All.
  9. On the form toolbar, click Remove Hold, and then click Release to release the trial balance.

    The system navigates to the Journal Transactions (GL301000) form and displays a transaction with the uploaded balances.

  10. On the form toolbar, click Release to release the transaction.