Consolidation Problem

ricky76

I wondered if anyone could help me. I am consolidating from one company into another and i have two g/l entries in the company i am consolidating from on 30/06/06. The negative figure of 1000 has a posting date of C30/06/06 wheras the positive entry of 1000 has a posting date of 30/06/06. When i run the consolidating to include this date only the closing entry seems to coming across as in the consolidated company for this account the figure shows as -1000 when it should be zero. Can anyone help me on this as i by no means an expert on consolidation? Any help would be most appreciated.

Alex_Chow

After you consolidate, you'll need to run the close financial statement process on the consolidated company. This is why the closing entries are not brought over during consolidation.

ricky76

The closing entry is brought over during the consolidation it is the entry without the closing date that is not coming over. This is why i have the balance at -1000. The company that i am consolidating into has the year 06 closed would this be why the other entry is not coming in? Many thanks for any help.

ricky76

I do apologise it is the closing entries that have not come over. Is this standard for the consolidation routine to not include closing entries?