Consolidating client account and balance data

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Our Support department is closed on Friday, April 28th for a company event. However, limited Workpapers CS phone support is available on that date from 9 AM - 5 PM ET.

Workpapers CS enables you to consolidate account and balance data from multiple clients into a single master client record. Before you can consolidate client data, you must first create a master client record into which the subsidiary client data will be consolidated.

  1. Create a master client record.
  2. Choose Actions > Consolidate Clients.
  3. Select the master client from the client selection list in the upper-right corner of the screen.

    Note: The client selection list includes only those clients that are not associated with another master client and that meet the consolidation requirements (same fiscal year end and same period frequency).

  4. In the Subsidiary clients list grid, mark the checkbox for each client to include in the consolidation.
  5. In the Grouping Type section, choose the method by which to consolidate accounts. If you choose to consolidate by Account grouping, you must also choose the appropriate account grouping and specify whether or not to include subcode detail.
  6. In the Balance Type section, select the method by which to consolidate the account balances, and specify whether or not to consolidate all budget balances from each subsidiary client into the master client.
  7. In the Periods section, select the date range for which to consolidate balances. The drop-down list includes all period end dates for the master client.
  8. Click the Consolidate Selected button.

Notes

  • The consolidation process assigns each subsidiary a number and gathers total balances for each subsidiary's account for the selected basis. A segmented chart of accounts is then created in the consolidated master based on the selected grouping type where the first segment is the subsidiary number and the core segment is the grouping type. You can then create specific journal entries in the consolidated client, print reports based on consolidated or segmented numbers, and export pertinent data to your tax application.
  • Each client can be associated with only one master client.
  • After you create a client record, you cannot change the master client status of that client. All master clients remain master clients; all non-master clients remain non-master clients.
  • The option to create a master client is unavailable if other services are selected for the client.
  • You cannot enter or import client data into a master client record. You must enter or import the information in the subsidiary client records before you create the consolidated master client.
  • You can remove subsidiaries from the master client data by clearing the checkbox for those subsidiaries in the Consolidate Clients screen and then reconsolidating the master client.
  • A segmented chart of accounts is created in the consolidated master based on the selected grouping type where the first segment is the subsidiary number and the core segment is the grouping type.
  • You can choose to round accounts in the Balance Definitions dialog for the Master Client only. Rounded balances in subsidiaries are not consolidated.

Related topics

Consolidating client accounting data overview

Creating a consolidated master client record

Reconsolidating client data

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