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TASBooks - Company consolidation

The consolidation option in TASBooks is used to merge the financial data for more than one company into one set of financial accounts that represent the group of companies as a whole.

You can then print management reports for the consolidated company.

Before you start

Before you begin to consolidate your companies in TASBooks, you must:

  • Take a backup of your companies' data.
  • Check that each company has the same accounting periods and financial year. You can check this within each of the relevant companies by clicking Central, then click Central Information then click Maintain Accounting Period Dates.
  • Check that each company has the same retained earnings nominal account. You can check thisby clicking Central, then click General Company Information, then click TASBooks Configuration.
  • Check that each company is set up to be included in the consolidation.

Set up a company to be consolidated

  1. Log into the relevant company.
  2. Click Central, then click General Company Information, then click Company Configuration.
  3. Click Company, then click Chart of Accounts
  4. Click Company Consolidation and select the This Company can be included in a consolidation check box.
  5. Click Set Password and enter a password for your consolidation.
  6. Click OK.
  7. Click OK, then click Yes.
  8. Repeat the above steps for every company that you want to be included in the consolidation, using the same password..

Create the consolidation company

  1. From the TASBooks Company Manager window, click Add New.
  2. Complete the Company Details window, then click Next.
  3. Select the companies you want to consolidate, then click Next.
  4. Enter the consolidation password, then click Next.
  5. Click Finish, then click Close.

 

Once you create a consolidation company, you can't edit it. So if there's any changes in the merged companies, such as new nominal accounts, you must delete the original consolidation company and re-consolidate your companies again.