Checklist: Setting Up Consolidations

You must set up consolidation groups on the Consolidated Reporting Setup form before you can run the consolidation process and print consolidated reports. For each consolidation group, you select the companies to be included and decide if any accounts are to be eliminated during the process.

See the Organization Settings help for information about the tasks that you complete before you specify information related to multiple currencies.

If you use multiple currencies, you also need to complete the following general steps.

Step Description
1. Select a reporting currency for the consolidation group.
2. Establish the translation methods to be used for determining exchange rates for companies with a functional currency that is different than the consolidation group’s reporting currency.
3. Select the gains and losses account to which translation gains and losses will be posted.
4. Establish currency exchange rates.