Consolidating G/L Statements for Two Sets of Books
In PCLawPro, you can consolidate Financial Statements for two separate sets of books. The G/L accounts for both sets of books appear on the same statement when you consolidate. A consolidated statement combines G/L accounts with the same nickname.
Data does not transfer from one set of books to the other when you consolidate statements. PCLaw® combines the totals from each set of books to create a single statement.
Because both sets of books might not have the exact G/L account names or numbers, you can create matching parent accounts in both sets of books to streamline the appearance of consolidated statements. When you run the statements, select to show only parent accounts or select to show parent and sub accounts on the statements.
Take the following steps to produce consolidated statements:
- Click G/L and select Statements... to open the Statements window.
- Click to check the General Ledger box, and select a template for it.
- Click to check the Trial Balance box, and select a template for it.
- Click to check the Income Statement box, and select a template for it.
- Click to check the Balance Sheet box, and select a template for it.
- Select Range from the G/L Account Selections box.
- Select First Current Asset from the Start drop-down list.
- Select Last Expense from the End drop-down list.
- Enter the period start and end dates in the Current Report Period date boxes.
NOTE: Click Use Previous to run the report for the same dates as the last statement you ran. Click Default to run the report for the next open period.
- Click to check the Detailed box to show each debit and credit on the report or uncheck it to only show balances for each G/L account.
NOTE: Summarized G/L accounts only show a summary of debits and credits on the report, even when you check the Detailed box.
- Select Output options.
- Click the Other tab.
- Click to check the Run Consolidating Statements box.
- Click to highlight the set of books you want to consolidate with the currently open set of books.
- Enter the ADMIN ID for the highlighted set of books in the User Name box.
- Enter the password for the ADMIN ID in the Password box.
- Click OK to generate the consolidated statements.
NOTE: Click Yes if you get the Do you want to re-read G/L information? prompt.