| User Roles |  Admin |  Staff contributor |  External Contributor | ✗Pulse user |
This Consolidated Accounts user guide is designed to help produce Consolidated accounts in compliance with FRS 102 and UK and IE company law.
Step-by-Step Process to set up your consolidated accounts
Setting your account type to consolidated
- Begin by setting up a consolidated file and integrating the FRS 102 workflow.
- The first essential step is to change your account type to “Consolidated,” which you can do in the General Settings template by selecting “Consolidated” under the "Type of set of accounts."
Choosing the parent company
- After switching to consolidated accounts, you'll encounter an option titled "Parent Company." Simply select the parent company that your group utilises. You’ll see options from the companies you’ve added to the consolidation.
- If you haven’t added the parent company yet, you can easily do so by navigating to Edit client > Consolidation and adding the necessary file.
- Now the accounts know which figures need to presented in the Company financial statements.
Consolidation adjustments
- The adjustments functionality can be used to post consolidation journals.
- In the adjustments screen consolidated files have the additional option of selecting which entity each line of the adjustment should be posted to.
- If a top level consolidation adjustment is needed this column can be left blank and the adjustment will affect only the consolidated figures.
If you have any other queries on the consolidated accounts please contact Silverfin support.