Change of ultimate parent

In this guide, we will illustrate how to adjust the ultimate parent within your group.

Before adjusting your group structure please be aware that the historical numbers will not change.

To have a successful change of ultimate parent in your structure please read the guideline below to the end and follow the instructions step by step – all 7 steps:

1. Check that the Group structure is set to “Default” on the blue top bar. You need to be in the “Default” structure since it is in this structure that all other structures are built on

2. Mouse over setup and select “Group Structure”

3. Press the button “+New Company”

If the new ultimate parent is already part of the group structure jump to step 6.

4. Enter all needed details for the new ultimate parent company and chose the current ultimate parent as the parent for this company and click “Save”.

5. Click on the newly created company in the group structure to edit it.

6. In the section “Parent Company” you must now press the x to remove the current parent

7. Click “Save”

Now the structure is changed, and the newly created company is the ultimate parent company.

8. Historical data:
If the updated group structure should reflected in the historical consolidations, previous periods need to be reopened. In general we, do not recommend reopening previously consolidated and reported periods so please be aware of what could happen to already reported periods.

The journals need to be recalculated by clicking the “Calculate and post journals” button in “Journals”.

Hereafter a new consolidation needs to be prepared before the adjustment will have an effect. Start and complete the earliest period that should reflect the change in the structure.

However, be aware that any changes in the group structure also will affect the current system journals, mapping of local accounts, etc. The system journals will for example be updated to reflect the new group structure.