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Year end for consolidated companies

To consolidate at the year end

Note: Some of the following steps refer to actions to take in the parent company and others to actions to take in the subsidiary companies.

1. On subsidiary company: Complete the Year End routine for each subsidiary company.
2. On parent company: Complete the Year End routine in the parent company.
3. On subsidiary company: Clear consolidated amounts in each subsidiary company.
4. On parent company: Use Zero Balances.
Important! If you are using your parent company as a working ledger, do not clear the Nominal Ledger balances for the company. Only set the consolidated amounts to zero.

Use Zero Balances to set the subsidiary balances in the parent company by cost centre to 0 (zero).

Note: This clears out This Year and Last Year values and so affects any comparative figures you might expect to see.

5. On parent company: If you are using your parent company as a working ledger and the subsidiary companies have their own unique cost centres in the parent company, consolidate the company.

Note: Do not consolidate if the subsidiary companies do not have unique cost centres in the parent company.

This posts all Balance Sheet values for the subsidiary company into the parent company.

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