Consolidating trial balance data

Alerts and notices

AdvanceFlow enables you to consolidate trial balance data from multiple engagements. When you do this, the following rules apply.

  • You can add up to 100 subsidiary engagements per consolidated engagement.
  • You can consolidate multiple consolidated engagements into tiered consolidations.
  • There is no limit to the number of tiered levels that you can consolidate.

You can designate a parent engagement for trial-balance consolidation by choosing Consolidated Trial Balance for the account structure when you add an engagement. AdvanceFlow displays a multiple binder Consolidated binder icon icon next to parent engagements in the navigation pane

To consolidate trial-balance data for multiple engagements, follow these steps.

  1. Click the Engagements button at the bottom of the navigation pane, and then select a parent engagement in the navigation pane.
  2. Click the Trial Balance tab in the workspace and then click the Consolidation Consolidation button button in the ribbon.
  3. In the toolbar of the Consolidation dialog, click the Add Add Subsidiary Engagement button button.
  4. Click the Lookup list Lookup list button button for the Client field, select a client, and click OK.


    • When you consolidate trial balance data by account number or by account grouping, only engagements that match the consolidated trial balance's reporting periods will be available.
    • When you consolidate trial balance data by tax code, only engagements that match the consolidated trial balance's reporting periods and tax entity will be available.
  5. Select an engagement and click OK.
  6. In the Subsidiary Engagement dialog, verify that the balance type and label information are correct, update this information as needed, and click OK.

    Note: AdvanceFlow uses label information to create column headers and report column headers in the Trial Balance workspace.

  7. Repeat steps 3 - 6 to add additional subsidiary engagements as needed.


    • To change the order of the subsidiary engagements in the list, select an engagement and then click the Move Up Move Up button, Move Down Move Down button, or Delete Delete button toolbar buttons.
    • The application will assign the tax codes from the first subsidiary in the list to the master engagement. If the first subsidiary does not have a tax code, the application moves down the list until a tax code is found. If no subsidiaries have a tax code, the master is also left with a blank tax code.
    • To update the properties of a selected engagement, click the Properties Subsidiary Engagement Properties button button in the toolbar.
  8. Optional: Select a new primary subsidiary option from the Primary field.

    When you change the primary subsidiary, AdvanceFlow reconstructs the Trial Balance view and removes all workpaper references.

  9. Choose the appropriate option from the Consolidate By field.


    • If you choose to consolidate by account number and more than one of the entities has the same account number but a different description, AdvanceFlow will use the account description from the primary entity selected in the consolidation setup screen.
    • If you choose to consolidate by Tax Code or Tax Code with Subcode, you must designate tax vendor information for your firm in AdvanceFlow.
  10. Optional: Mark the checkboxes to Include Budget Balances or Recalculate Prior Year Balances.

    Note: We recommend that you recalculate prior year balances only once per consolidated engagement.

  11. Click OK to close the Consolidation dialog.
  12. In the Trial Balance workspace, click the Consolidate Consolidate button button in the ribbon.

Note: To present consolidated financial statements on a comparison basis for a consolidated engagement, the best practice is to do the following:

  1. Create a consolidated engagement for the prior year that contains all subsidiaries.
  2. Set up and perform the consolidation.
  3. Enter any eliminating entries.
  4. Roll the consolidated engagement forward. This ensures that the final Balance for the prior year will display correctly.

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