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Create Consolidation Period End Closing

Navigate to Company Setup, then click the Parent GL Ledger.


Create a new Consolidation Period End Closing record for the period (ex. 2024-03) you want to consolidate.


Enter 2024-03 in the Accounting Period field. When saving, the Consolidation Closing Name is updated to 2024-03 automatically.

Before you perform the period-end consolidation steps, please note:

  • All previous accounting periods before 2024-03 must be closed to prevent new GL Entries, and the consolidation steps must be completed for each of the prior accounting periods.

  • The current Accounting Period, 2024-03, should be open in order to post the Elimination entries.

Optional Step:

The following step is necessary only if you have subsidiaries using a base currency that is different from the parent’s base currency.

  • Create a Consolidation Period Exchange Rate record, and enter the Average, History, and Current Rate

    • For example, if USD is the parent’s base currency, and CAD is the subsidiary’s base currency.

    • Rate is used to convert CAD to USD using this format: 1 USD = Rate * CAD

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