Consolidation Company in Business Central

Once a new blank company is setup; this will be the consolidated company to pull in the other businesses.   

Import the chart of accounts and dimensions into the newly created company. 

*This may need to be an updated chart of accounts if the companies to be consolidated do not have the same listed accounts.  If a new chart of accounts is established the accounts from the companies to consolidate will need to be mapped to this new chart of accounts.

To map the chart of accounts from the businesses being consolidated to the new company, follow these steps:

1. Navigate to the chart of accounts.
2. Select the specific account you want to map.
3. Under the Consolidation FastTab, update the post debits and credits to match the new chart of accounts being used.

Once the chart of accounts and dimensions are uploaded to the new company the next step is to run a test for the consolidation. 

Within the consolidation company, in the search bar enter Business Units

Add the companies as new business units to be consolidated. Add any gain/loss GL accounts at this time in the business unit card.

Code: Business name code

Name: Company name to pull into consolidated company

Consolidation %:

Company name: The company that the Business Unit is associated with

Select actions – Functions – Test Database

Select Consolidate

Add the dates to consolidate (best practice is to consolidate monthly.  The GL date of all transactions pulled in are listed in the consolidated company as the ending date.  i.e. 9/30/2024)

Select the business units to consolidate

Run consolidation

Pull a Consolidated Trial Balance or if there are less than 4 business units that were consolidated can use the Consolidated Trial Balance 4