| User Roles | ✗Pulse user |
This Consolidated Accounts user guide is designed to help produce Consolidated accounts in compliance with FRS 102 and UK and IE company law.
Step-by-Step Process to set up your consolidated accounts
Setting your account type to consolidated
- Begin by setting up a consolidated file and integrating the FRS 102 workflow.
- The first essential step is to change your account type to “Consolidated,” which you can do in the General Settings template by selecting “Consolidated” under the "Type of financial statements."
Choosing the parent company
- After you switch to consolidated accounts, the parent company you selected in the Consolidation settings is assigned automatically.
- If you haven’t added the parent company yet, you can easily do so by navigating to Edit client > Consolidation and adding the necessary file.
- Now the accounts know which figures need to presented in the Company financial statements.
For a step-by-step guide to changing a file type to consolidation and adding client files to it, see How to create consolidation file within a file?
Consolidation adjustments
- The adjustments functionality can be used to post consolidation journals.
- In the adjustments screen consolidated files have the additional option of selecting which entity each line of the adjustment should be posted to.
- If a top level consolidation adjustment is needed this column can be left blank and the adjustment will affect only the consolidated figures.
If you have any other queries on the consolidated accounts please contact Silverfin support.