Working in a Multi-Tier Consolidated Engagement

You can select the entity data to view the trial balance data and reports.

To select the entity to view, do the following:

1. From the Trial Balance page of the consolidated engagement, click to open the drop-down menu.

2. Select the entity you want to view. The consolidated entity (1st tier) is always the 1st item on the list, then a hierarchy of parent and subsidiary entities are listed in the same order as they appear in the Consolidation Setup grid.

The data on the page displays the data for the entities that directly roll up to the selected entity.

Trial Balance page

1. Click the Financial tab on the trial balance page for a financial consolidated engagement.

2. Click the Tax or Send to Tax tab on the trial balance page for a tax consolidated engagement.

3. When a parent entity is selected at the top of the page, you have two ways to view the entities that roll up to the selected entity:

1. View Entities in Columns: This is the default view for the consolidated entity.

• The entities that roll up directly to the entity selected are displayed in columns in the order they appear on the Consolidation Setup grid. To change the order, you must change the order on the Consolidation Setup grid.

• The parent column(s) displays the total balance of the entities that roll up to the parent. The balance type is the Final balance for a financial consolidated engagement and the Tax balance for a tax consolidated engagement.

• The subsidiary column(s) displays the total account balances, Final balance for a financial consolidated engagement, and the Tax balance for a tax consolidated engagement.

• If you have more than 3 entities, you will need to select to show the other entity columns.

• Hover your pointer over a column header until the icon displays, and then click the icon.

• Select the check box for each entity you want to display in the trial balance.

• Click outside the list to close the window.

• Columns after the entities:

• The Entity Total column sums up all the entity balances for each row.

• This is the total for all entities, even if an entity column is currently hidden from view.

• The EJE column displays the net amount of eliminating journal entries posted for each row for the selected parent.

• The Consolidated Total (current year) column sums up the "Entity Total" amount and the net EJE amounts in the current year.

• The Consolidated Total (prior year) column sums up the Entity Total amount from the prior year and the net EJE amounts in the prior year.

• The rows display the financial groups and sub-groups, or the tax groups and subgroups assigned to accounts in the trial balance.

• The amounts in the entity columns are the sum of the account balances for each entity.

2. View Entities in Rows:

• The entities are displayed in rows in the order they appear on the Consolidation Setup grid. To change the order on the trial balance, you must change the order on the Consolidation Setup grid.

• The rows and amounts are the account balances summed up to either the financial groups and sub-groups, or the tax groups and sub-groups.

• The columns show all balance types and journal entry types.

Refer to Managing the Display of Your Trial Balance for additional information on how to sort, pin, and order columns on the Trial Balance page.

Leadsheet pages are available with Financial consolidated engagements.

• If a consolidated or a lower parent is selected at the top of the page, the leadsheet will display a row for each entity that rolls up to the parent that has accounts assigned to the leadsheet.

• Click the arrow next to a subsidiary row to expand and see the account details.

• This leadsheet includes the following columns:

• EJEs (current year)

• Consolidated total (current year)

• Consolidated total (prior year)

You can add and view eliminating journal entries (EJEs) from the consolidated view by clicking on the Journal Entry button on the tool pane.

• If a subsidiary is selected at the top of the page, the leadsheet will display the accounts and balances that are assigned to the leadsheet.

The Financial Statements page is available with Financial consolidated engagements.

• The consolidated and lower parent view displays the totals for all entities. You can add and view eliminating journal entries (EJEs) and export the page to Microsoft^® Excel^®.

• The subsidiary view displays the accounts and balances assigned to the corresponding group. You can add and view journal entries and export the page to Microsoft^® Excel^®.

The Tax Summary Report page is available with Tax consolidated engagements.

• The consolidated or lower parent view displays four levels:

1. Tax group

2. Tax sub-group

3. Entity: Parent or Subsidiary totals

4. Accounts display for subsidiary entities

• Click the arrow next to a subsidiary row to expand and see the account details.

• This view includes the following columns:

• EJEs (current year)

• Consolidated total (current year)

• Consolidated total (prior year)

• You can add and view eliminating journal entries (EJEs).

• The subsidiary view displays three levels:

1. Tax group

2. Tax sub-group

3. Accounts

Click the arrow next to each level to view the detail that makes up the sub-total.

The Financial Summary Report page is available with Financial consolidated engagements.

• The consolidated or lower parent view displays four levels under each Type and Classification:

1. Financial group

2. Financial sub-group

3. Entity: Parent or Subsidiary totals

4. Accounts display for subsidiary entities.

• Click the arrow next to a subsidiary row to expand and see the account details.

• This view includes the following columns:

• EJEs (current year)

• Consolidated total (current year)

• Consolidated total (prior year)

• You can add and view eliminating journal entries (EJEs).

• The subsidiary view displays three levels:

1. Tax group

2. Tax sub-group

3. Accounts

Click the arrow next to each level to view the detail that makes up the sub-total.