AccountMate 7 for LAN: CL

AccountMate
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Corporation

AccountMate’s Consolidated Ledger module brings easyto- use features to
financial consolidations, providing the ability to quickly combine several companies’ account balances and budget information into a single unified ledger in order
to present consolidated financial statements
and budget reports.

Creating a consolidated ledger is simple; merely specify which company is the parent that will generate consolidated reports and which companies are the subsidiaries. Each subsidiary company’s General Ledger
accounts and fiscal periods are mapped to those of its parent so that financial data can be seamlessly transferred to the
parent company. This module’s simplicity and flexibility makes it a valuable financial tool.

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AccountMate 7 for LAN
Consolidated Ledger Module

Unlimited Number of Subsidiaries

AccountMate’s Consolidated Ledger can support as many subsidiary companies as desired for each parent company.

Automatic Account Mapping Options

Users can automatically map all or a range of accounts in the subsidiary company to accounts in the parent or map a single parent company account to multiple accounts in the subsidiary company.

Automatic Account Mapping

Fiscal Period Mapping

Consolidated Ledger provides the ability to map each subsidiary’s fiscal periods to the parent company’s fiscal periods. This is especially useful when a subsidiary company’s fiscal year covers a range of dates different from that of the parent company’s fiscal year.

Consolidate Account and Budget Balances

Users can consolidate budget balances as well as account balances, providing a more effective way of managing the business.

Internal Checks Help Prevent Consolidation Errors

The Consolidated Ledger detects any problems that affect a consolidation such as accounts or fiscal periods that have not been mapped. If a problem is detected, the consolidation is aborted giving users the ability to resolve the problem while preventing defective data from affecting the parent company’s account balances.

Consolidation Control Totals

The net retained earnings value consolidated from a subsidiary’s accounts or budget can be displayed to check against the control amount expected.

Unlimited Number of Consolidations per Period

Users can consolidate each subsidiary’s General Ledger data to its parent’s General Ledger at any time in order to view updated financial information. During year-end closing, a final consolidation of information is automatically performed by the system. Moreover, users can choose to undo consolidation of the subsidiary’s financial data as long as Fiscal-Year End Closing has not been performed in the subsidiary company.

Posting Period Restrictions

Users can restrict postings and consolidation to any specified period in the parent company. This helps maintain the integrity of General Ledger data that has already been included in consolidated reports.

Other Features

Change a company’s setting from no consolidation to either a parent or subsidiary account status for consolidation
Review date and time of previous consolidation

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