Adjustments via Consolidation Journals

When preparing consolidated management accounts, the financial data of the consolidated entities are added together and then subjected to consolidation adjustments. Consolidated adjustments are executed through Consolidation Journals.

To create new consolidated journals:

• Navigate to the Client Folder/Consolidated Journals.
• Click on New, and a new Consolidation Journal screen will appear.
• Fill in the relevant details, such as Date and Description, to start a new journal.
• Use the icon with a + sign to add new items to the Consolidation Journal.
• Once all the items are added, click the Save (floppy disk) button at the top of the screen.

Journals that are not saved are not preserved and have no impact on the reports.

Saved Journals can be posted or left unposted.

Unposted Journals are expected to be later edited. The impact of unposted journals on the reports can be seen when using the 'Include Unposted Consolidated Journal' tick box when running them. Unposted Journals can be Deleted.

Posting of the journal is done by the red stamp button at the top of the screen.

Posted Journals cannot be amended; they can only be reversed. 

The "Created Journals Copy" function is available for both Saved Journals and Posted Journals, enabling the creation of an exact duplicate of the original journal.