Setting up the subsidiary companies' records

The best way to set up the records of a subsidiary company is to import them. Importing records from accounting software, working paper software or ASCII text files automatically builds the chart of accounts, enters the balances and, if applicable, general ledger details. Then to finish setting up a company, you just need to assign the imported chart of accounts to mapping numbers.

You can set up a subsidiary's chart of accounts, balances and details by inputting them manually. This is a lot of work and should be done only if you have no other way of getting the records into yourconsolidated file. If you are inputting your records, you can still save some effort by copying and pasting data from one entity to another.

Important

• DO NOT attempt to set up a subsidiary's records by copying template from another client file. Using the Copy Components function will replace the chart of accounts and trial balances for all the companies (parent and subsidiaries) that are in the consolidation structure.

How do you want to set up the records?

• Importing data into the consolidated file
• Copying and pasting data from one entity to another