Costpoint Consolidations is an add-on module. The terms "company" and "location" are used interchangeably throughout this document and have the same meaning.
With Costpoint Consolidations, you can use multiple companies to create a transfer of summary balances and send those balances to the consolidation ledger for financial and project reporting. You can also transfer summary balances between companies within the same database. Transfers within the same database ("internal") or to another database ("external") can be completed in a different currency. Use the screens in this module to perform the consolidations process, with each screen representing a different step in the process. You can run the consolidation function on a separate (host) database that contains only consolidation entries, or you can run it in conjunction with a live Costpoint system.
Once you have run the consolidation, you can create elimination entries or make any other necessary adjustments. Consolidation entries are posted as a journal entry in the General Ledger. After you make adjustments, you can run a consolidated trial balance report or a consolidated financial statement report.
The consolidation process is in compliance with US Generally Accepted Accounting Principles (GAAP) rules and regulations. You can create consolidations using an Inception-to-Date or Year-to-Date calculation method. The different financial statements are translated using the applicable currency exchange rates as identified under US GAAP. Additional capabilities (such as using historical and weighted average historical exchange rates to translate stockholders' equity accounts) are addressed in the different screen sections of this document.
The transfer of the summary balances from the subsidiaries uses mapping tables to allow each subsidiary to have its own chart of accounts. The system uses the mapping table while creating the transfer to map the subsidiary accounts and organizations to the accounts required by the consolidation ledger.
The primary purpose of the mapping table is to allow for summarization of accounts to a higher level and summarization of internal organizational information to a higher reporting level required by the consolidation ledger. However, the mapping table can also support a true account/organization conversion. The transfer is in the form of a summary, balanced entry that can be loaded and then posted to the consolidation ledger.
In addition to the general ledger information, summary project information is transferred for inquiry and reporting. Account, Organization, and Project Master tables are transferred so that reports and inquiries show names and related project data. Project Summary (PSR) and Revenue Report tables are summarized and transferred as well. This provides the consolidation company with summarized project reports and inquiries.
You can create consolidation entries as often as necessary. You should post accounting transaction journals to the General Ledger before creating consolidation entries. Export projects only after computing burden and revenue and after creating report tables.
Using Costpoint Consolidations, you can:
Use the Inception-to-Date or Year-to-Date calculation method.
Override the default historical exchange rate to use weighted average historical rates to translate stockholders' equity accounts.
Create a mapping from existing accounts and organizations to consolidation accounts and organizations using wildcards.
Create trial balance and consolidated financial statements by organization.
Process data in the host or consolidation company.
Make adjustments to the consolidated ledger.
Create elimination entries for intercompany revenue and expenses.
Receive transfers from multiple subsidiary databases or companies within the same database.
Complete a transfer in a currency different from your functional currency (sending company only).
Select the level of project, organization, and account to transfer.
Costpoint Consolidations contains the following restrictions:
Consolidation ledger transfers are made by period only.
Detail transactions are not available in the consolidation ledger.
Labor and employee information is not available in the consolidation ledger.
Project detail, by transaction, is not available.
You must run project reports and inquiries at the transfer level or higher.
The system will access the following tables during the consolidation:
General Ledger tables:
FS_SUM will be summarized, converted, and transferred.
ACCOUNT, which contains account names and general account information.
ORG, which contains organization names and general organization information.
Project tables:
RPT_REV_SUM, which contains costs, budgets, backlog, and revenue information by Subperiod, Period, Year-To- Date (YTD), and Inception-To-Date (ITD);
PSR_HDR, which contains general project information including home organization, contract value, funded values, period of performance, customer name, and project manager name;
PSR_ FINAL_ DATA, which contains Project Summary (PSR) report data; and
PROJ, which contains the project name and general project information for each of the various levels of the project.