Use this screen to update the inception-to-date beginning balances for the balance sheet accounts and compress income statement accounts into current year retained earnings.
The utility will create a new record in Maintain Consolidation Transfer History.
You need to complete this process for each new fiscal year in a receiving location as per the selection criteria. For balance sheet accounts, it will bring forward the balances from the selected fiscal year to the new fiscal year. In the new fiscal year, income statement account balances from the selected fiscal year are compressed in the current year retained-earnings account/org. Set up the Current Year Retained Earnings account/org setting in the Consolidation Account/Org Mappings screen (see the documentation for the Current Year Equity pushbutton in that screen).
This utility will be accessible only if the Consolidation Calculation Method in the Consolidation Settings screen is set to Inception-To-Date. You should execute this process after running the Update G/L Beginning Balances screen in Costpoint General Ledger and before running the Create Consolidation Entry screen in the new fiscal year.
You must manually enter initial balances for the first fiscal year.
Following the accounting rule that income statement accounts are mapped to consolidated income statement accounts and balance sheet accounts are mapped to consolidated balance sheet accounts, the system performs the following steps during this process:
Inserts a new row/record in the Maintain Consolidation Transfer History (CONS_XFR_HS) table for each receiving location selected in the screen. The fiscal year for the new record will be the next sequential year after the year selected in the screen. This year will be displayed automatically in the Fiscal Year To Be Updated field and is non-editable. The new record period is "0."
The system brings forth the balance sheet accounts by selecting the latest consolidation period for the fiscal year. This amount will be the period "zero" amount for the Fiscal Year To Be Updated.
The application, similar in functionality to the Update G/L Beginning Balances screen in Costpoint General Ledger, updates the consolidation beginning balances, which are considered to be the very first period in the new fiscal year. In the Consolidation Transfer History (CONS_XFR_HIS) table, the amount of the balance is recorded as the period "zero." The current period activity is the last consolidation entry created.
Sums up income statement accounts into the Current Year Retained Earnings Account entered in the Consolidation Account/Org Mappings screen (see the documentation for the Current Year Equity pushbutton in that screen).
Sums the amounts from the latest consolidation period across all income statement accounts. This amount will be the period "zero" amount for the retained earnings account for the Fiscal Year To Be Uploaded.
The application, similar in functionality to the Update G/L Beginning Balances screen in Costpoint General Ledger, updates the consolidation beginning balances, which are considered to be the very first period in the new fiscal year. In the Consolidation Transfer History (CONS_XFR_HIS) table, the amount of the balance is recorded as the period "zero." The current period activity is the last consolidation entry created.
The retained earnings account/org is the consolidation/org from the mapping line for the Current Year Retained Earnings row in the mapping screen.
This screen is the final step in the consolidations process. Once the process is complete, you can manually transfer the Current Year Retained Earnings amount to the appropriate Prior Year Retained Earnings row in the new fiscal year record of the Maintain Consolidation Transfer History screen. The Prior Year Retained Earnings row in the history should match the row in the mapping. Your must perform this step before you create new consolidation entries in the new fiscal year.
The Update Consolidation Beginning Balances process (COPUPBB) works similarly to the Update G/L Beginning Balances (GLPUPBB) screen in Costpoint General Ledger. Because Maintain Consolidation Transfer History has a separate record for each sending location/receiving location/fiscal year, you can rerun the Update Consolidation Beginning Balances screen as often as needed.
Select a range option for the variable.
Enter, or use Lookup to select, the starting receiving location. If you select "All" or "From Beginning" in the Range Option field, this field will be inactive.
Enter, or use Lookup to select, the ending receiving location. If you select "All," "One," or "To End" in the Range Option field, this field will be inactive.
Enter, or use Lookup to select, the fiscal year for which you want to run this utility.
The system automatically displays the next sequential year in this non-editable field.
Data entered in this screen is stored in the CONS_XFR_HS table.