Setting up the Subsidiary Companies' Records
There are two methods in setting up the records of a subsidiary company. We recommend importing the data to automatically build the chart of accounts, enter the balances and if applicable the general ledger details. If you cannot import the data, you can set up the details manually by copying and pasting data from one entity to another.
Procedures
Method 1: Importing data into consolidated file
- From the Context Toolbar select the name of the entity to which you want to import the date.
- On the Engagement tab, in the Data group, click Import and select either Accounting Software or Working Paper Software and follow the software importing procedures. You can also import data from ASCII text files. If you are importing from accounting software, choose the information that you want to import. The Chart of Accounts is always imported.
- Enter the path to the consolidated file to which you are importing. Click Browse to locate the file.
- (Optional) Choose whether to import client information. This option is off by default.
- Click OK to import.
Method 2: Copying and Pasting Data from One Entity to another
Note: 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.
- On the Account tab, in the Balance Group, click Working Trial Balance.
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Move the cursor over the left end of the first line and click to select the line. The line should be highlighted in black.
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Drag the cursor straight down to select the rest of the lines. Right-click and select Copy.
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Select from the Context Toolbar the target entity to paste the data.
