Closing in Consolidation Company

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Posted on by Rajat walia

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Hello all,

I am facing issue that after closing the income statement in subsidiary company i could not able to see the closing entries in consolidation companies.

If I am running the consolidation (After closing the subsidiary company) by giving date filter as starting date 01-01-2020 and Ending date 31-12-2020 then closing entries are not getting update in Consolidation company.

If i give the date filter as Starting date 01-01-2020 and Ending date C12-31-2020

Starting Date C01-01-2020 and Ending Date C12-31-2020

Then system is not allowing enter above mentioned dates.

I also tried to close the income statement in Consolidation company, this also not worked out.

Any suggestion is highly appreciated.

Thank You,

Rajat

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Rajat,

Your Closing Entries from the Business Units (Subsidiary Companies) are NOT consolidated into the Consolidating Company. You perform the Close Income Statement process in the Consolidation Company after creating any Intercompany Elimination entries, since Intercompany elimination entries are part of the Consolidation accounting activities.

Hope this helps.

Thanks,

Steve

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