Managing multiple entities in Sage Intacct Construction can be streamlined through domestic consolidations. This tutorial covers the basic steps for consolidating multiple entities using the same base currency within Sage Intacct.

1. Enabling Global Consolidations:

• Despite focusing on domestic consolidation, the feature in Sage Intacct is labeled as Global Consolidations.

• Navigate to Subscriptions and ensure Global Consolidations is activated.

2. Creating an Elimination Entity:

• An elimination entity is vital for posting consolidation entries.

• Go to Company > Setup > Entities to create this entity.

• Utilize an ID with an EE prefix and a number (e.g., EE001).

• This entity is a shell entity, used exclusively for consolidation entries.

3. Establishing a Consolidation Book:

• Access Global Consolidations > Setup > Books and click 'Add'.

• Name your book (e.g., USD Consolidation Book) and select the default currency (USD).

• Choose a Cumulative Translation Adjustment account, although this is more relevant for global consolidations.

• Add all relevant U.S.-based entities for consolidation.

4. Running Consolidations:

• From Global Consolidations, select All > Run Consolidation.

• Use 'Consolidate with Options' for detailed settings.

• Execute consolidations for desired periods (e.g., monthly).

5. Viewing Consolidation Reports:

• Access the Report Center to modify existing reports like the Balance Sheet Condensed.

• Duplicate and adjust reports to reflect consolidated data.

• Run reports for specific periods to view consolidated financials.

6. Creating a Consolidating Balance Sheet:

• Find the Profit and Loss Summary report.

• Duplicate the report and adjust it to display amounts by location and enable roll-up.

• Modify columns to reflect consolidation book.

• Run the report to see entities, elimination columns, and totals.

Key Tips:

• Automated Eliminations: Enable inter-entity auto elimination for seamless accounting.

• Zero Balance Columns: Display these to ensure comprehensive financial views.

• Reporting: Customize reports for detailed insights into each entity's performance.

Note:

This tutorial covers basic domestic consolidations. For global consolidations, a more advanced setup is required, particularly concerning exchange rates and reporting.

For further assistance, submit a request to help.bangertinc.com or visit our YouTube channel for more Sage Intacct tutorials.