Create Consolidation Chart of Account – A summary of the activity

This activity allows you to define the consolidation chart of accounts. The “Consolidation” chart of accounts is similar to the “Operative” chart of accounts. A company that has a “Consolidation” finance book must necessarily have a consolidation chart of account. If a company has both the “Operative” and “Consolidation” chart of account, the “Operative” account codes of the company must be mapped to the “Consolidation” account codes.

A company can have a different chart of account from that of its parent company based on the business requirements. For the purpose of consolidation the account codes of a child company must be attached to the account codes of the parent company.

This activity also allows you to modify the details of the newly created consolidation chart of accounts and the corresponding account codes.

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