CREATING DYNAMICS GP CONSOLIDATION COMPANIES
Companies not on Dynamics GP
What can be done to consolidate companies using non-Dynamics GP accounting systems? This is a challenge regardless of what software you choose to consolidate your financial statements. There are two options, use a Dynamics GP consolidation company, or use an Excel file to consolidate companies not running their accounting systems on Dynamics GP.
Creating Dynamics GP consolidation companies
Dynamics GP allows for the creation of unlimited separate company databases. Create a new Dynamics GP company for each subsidiary using a different accounting system. If you have many subsidiaries to manage, consider using one database for a group of companies. Monthly results are imported using the Dynamics GP consolidation company. This is one of the best options to manage the consolidation process!
The option starts with a new company created in Dynamics GP for each reporting subsidiary or group of subsidiaries. The company created is for corporate reporting and uses the Corporate reporting Chart-of-Accounts not the existing company’s current Chart-of-Accounts. This gives you a representation of all companies in the Dynamics GP accounting system. Dynamics GP Integration Manager can provide the mapping of the subsidiary account to the consolidation account during the import process.
Microsoft Dynamics GP and Management Reporter can be successfully designed to manage the consolidation process!
For more details request a free copy of “Consolidation design in Microsoft Dynamics GP and Management Reporter”, 1st in the Consolidation Accounting White Paper Series, at https://unifiedbiz.com/consolidation-design/