Prepare the consolidation data in a subsidiary

How the consolidation data should be prepared in a subsidiary depends on whether the subsidiary uses multiple currencies and whether its base currency is the same as the base currency of the parent company. This topic discusses the following cases:

  • A subsidiary uses the same base currency as the parent company does.
  • A subsidiary uses another base currency than the parent company does.

If a subsidiary uses only one currency in the single-currency system, no special data preparation is required.
Translation to the base currency of the parent company can be performed in the parent company after the import is completed.

  1. Prepare the trial balance for the consolidation period. Make sure it is correct. For details, see: View the trial balance on reports.
  2. Close the financial period for which consolidation will be performed.
  1. Update exchange rates to be used for translation of balances to the base currency of the parent company.
  2. Translate the balances to the parent company base currency, and record the translated balances to the ledger that has been specified as the consolidation source.

Parent topic:
About consolidation configuration