Book setup—Global Consolidation

Use Book setup to define or view the attributes of consolidation books for Global Consolidation.

About consolidation books

Domestic Consolidation: A consolidation book created with Domestic Consolidation consolidates day-to-day operations across entities in a multi-entity company with a single base currency. Domestic Consolidation books provide accurate auto-eliminations for inter-entity transactions.

Global Consolidation: A consolidation book takes entities that perform their day-to-day operations in different accounting currencies and consolidates them into a single currency for reporting. A typical example would be a region that has areas that operate in different currencies, but results must roll up into the regional totals. This requires converting operating currencies into the reporting currency, posting any currency translation adjustments that occur, and eliminating inter-entity balances that are conducted in different operating currencies.

You must set up at least one consolidation book before you can run or view any consolidation information.

Create a new Global Consolidation book

Global Consolidation book setup
❶ Set up book info	❷ Select entities to consolidate	❸ Review and add journals	❹ Select accounts to override	❺ Add IET auto-elimination

Go to Consolidation > Setup and select Add (circle) sign beside Books.

1. Book information: Add essential information that applies to the entire book, including general information and currency. Enter currency information for Global Consolidation only.
2. Entities to consolidate: Select the entities to be consolidated in the book, including the elimination entity required for posting transactions for currency conversions.
3. Journals: Review the consolidation journals for the entities included in the book, and add journals from other books.
4. Accounts to override: Select any accounts to be overridden with a different currency conversion method than those set up for the overall book. The Accounts to override tab is shown for Global Consolidation only, and not for Domestic Consolidation.
5. Elimination accounts: Add GL accounts for inter-entity auto-elimination, if applicable.

Duplicate an existing book

Companies often have a large number of books to include in Global or Domestic Consolidation. These books can be similar, with few differences. To speed up creating a book that's similar to one that already exists, use the Duplicate feature.

1. Go to Consolidation > Setup > Books.

2. Select the book to duplicate and select Edit.
3. At the top of the page, select Duplicate. Consolidation creates a new book, identical to the one you are on, except that the book name is empty.
4. Enter a name for the duplicated book, plus any additional the information such as changing the description or statistical journal name. You can find details about the book setup sections from the links above.
5. Select Save to save the newly duplicated book.

Edit a book

1. Go to Consolidation > Setup > Books.

2. Select Edit for the book you want to change.
3. Update the consolidation book.
4. Select Save to save your changes.

What happens when you edit a consolidated book

• After running a consolidation, you can change the book setup by adding a new entity or account; and changing the historical rate date option (above the table of accounts, Consolidation only) and consolidated dimensions.
• If you change your book setup and then re-consolidate a previously consolidated period, then your posted entries will change.
For example, suppose you enable the Customer dimension for a particular book, and then consolidate that book. Then you decide to disable the customer dimension for that book, and re-consolidate. Your posted entries will not include the Customer dimension.
• You can't remove entities, change the translation method or reporting currency, or switch to automatic elimination of inter-entity balances. If you need to make changes to the book setup, delete the book and then create a new book.

Delete a book

When you delete a book, Intacct deletes all the consolidation data for that book.

1. Go to Consolidation > Setup > Books.

2. On the Consolidation books page, select the book you want to delete.
3. Select View to verify the book information.
4. Select Done to return to the list.
5. Select Delete next to the book.

Learn more about deleting consolidation books.

Delete a user-defined book with previously consolidated transactions

If you want to delete a user-defined book that includes previously consolidated transactions, you'll need to take specific steps to do so.

1. Delete the accrual transactions from the user-defined journal.

   1. Go to General Ledger > All > Journal entries > User-defined.

   2. Find the user-defined journal and select View transactions.
   3. Select Delete at the top of the Delete column to select all the transactions for deletion.
   4. Select Delete to remove all transactions.
2. Re-consolidate the book that includes the user-defined book you want to delete. Use the period with consolidated data from the book.
3. Delete the user-defined book. Intacct automatically deletes the book's journal.

   1. Go to General Ledger > Setup > More > User-defined books.

   2. Find the user-defined book and select Delete next to it.

What happens next: Intacct automatically deletes the user-defined journal associated with the user-defined book you just deleted. Go to General Ledger > Setup > Journals > User-defined to confirm the user-defined journal has been deleted.