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Add an entity

Before you can complete an internal or external consolidation, you'll need to create a consolidation structure by adding entities to your file. Creating a consolidation structure will help you plan the consolidation by mapping out a consolidation tree.

To add an entity to a file:

  1. On the ribbon, click Engagement | Consolidate.
  2. In the Consolidation dialog, click New.
  3. Complete all the fields in the New Entity dialog to define the properties of your entity:
    • Entity Identification: Enter a name and abbreviation for your entity.
    • External Source for Entity Detail: For an internal consolidation, select None. For an external consolidation, select Existing File to import records from an external Working Papers file. You can choose which balances and account information to include or exclude from the file.
    • Fractional Contribution to Parent Entity: Enter the percentage contributed to the consolidation. This is the percentage of the accounting records that will affect the parent entity's records.
  4. When you've completed all the fields, click OK.

A consolidation hierarchy will display in the Consolidation dialog. You can drag and drop entities to modify the entity structure.

To modify the entity structure:

  1. On the ribbon, click Engagement | Consolidate.
  2. In the Consolidation dialog, click the entity you want to move and drag it into another entity. You have now made the entity a sub-entity.
  3. Continue this process until you are satisfied with your entity structure. When are you are finished, click OK.

Once you've set up a consolidation structure, you can import accounting records to the appropriate entities.