Entering Transactions in a Consolidated File

Transactions from entities contained in the consolidated file are entered as you would enter transactions in a single client file, taking care to designate the entity to which they apply. Transactions are updated in real-time and therefore, are reflected in the statements immediately.

The details of transactions entered in externally maintained client files are not present in the consolidated file. However, their effects are reflected in the consolidated balances the next time the consolidated file is updated in the Consolidation dialog. When you access a consolidated file that has links to external client files, Working Papers will check those files and inform you if they have been updated so that you can re-consolidate. After the consolidation, any journal entries that are input in the original files are not reflected in the consolidated file balances until the next re-consolidation.

Note

• The link between a consolidated file and a client file it consolidates by batch is a one-way link. Entries entered in the consolidated file will not be reflected in any client files consolidated into it by batch. Make all journal entries to any of these subsidiary client files in the external file only. For more information, see Other Journal entries and consolidated files.
• In a fractional contribution, multi-level consolidation, eliminating entities are taken at 100% for the level they were entered on only. Higher-level fractional contributions still apply.