View book setup

Use the Book Setup tabs to view, edit, or duplicate the attributes of consolidation books.

About consolidation books

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.

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. You can still transact in more than one currency when using Domestic Consolidation, as long as you use a single base currency.

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

Book setup tabs for Global Consolidation

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

There are multiple sections required for book setup. Each section appears as a tab on main Book Setup page.

  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.

Book setup tabs for Domestic Consolidation

Domestic Consolidation book setup

❶ Set up book info

❷ Select entities to consolidate

❸ Review and add journals

❹ Add IET auto-elimination

There are multiple sections required for book setup. Each section appears as a tab on main Book Setup page.

  1. Book information: Add essential information that applies to the entire book, including general information and currency.
  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. Elimination accounts: Add GL accounts for inter-entity auto-elimination, if applicable.

View a book

  1. Go to Consolidation > Setup and select Books.
  2. Locate the book to view from the list that appears, and select View.

The Book Setup page appears with the Book information tab selected.

Edit a book

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.
When deleting a book, all consolidation data for that book is deleted.
  1. Go to Consolidation > Setup and select Books.
  2. Locate the book from the list that appears, and select Edit to open the Book setup page. You can also select Edit from the page when you're viewing a book setup.
  3. Make any changes. You can only change book information if no consolidation has been run for it.
  4. Select Save to save your changes.

Duplicate a book

  1. Go to Consolidation > Setup and select Books.
  2. Locate the book from the list that appears, and select View or Edit.
  3. From the Book Setup page, select Duplicate.
  4. A new Book setup page appears with everything from the original book already configured except the name. Enter a new Name for the book.
  5. Make any other changes needed.
  6. Select Save to save your new book.