Below you will find a written guide on creating a completely new set of group accounts.
In the lower-left corner, you can set up your future group accounts. This is a one-time exercise.
Mouse over the Setup button and click Group Accounts.
A new window will open.
Click on the button Create Group Accounts.
After clicking on the button Create Group Accounts, you need to select different criteria to set up the standard group accounts. The section will expand automatically in relation to your selected criteria. First, you must select country, then language, and based on these two criteria, there are multiple options (IFRS and local GAAP) in relation to profit/loss and balance sheet accounts.
You must determine the reporting classifications either by nature or function.
Some customers use different classifications between their general ledger and internal and external reporting. Often the general ledger and external reporting are classified by nature, and the internal reporting is classified by function or a mix of nature and function. Many companies report internally by function down to EBITDA, and subsequent lines are not allocated by functions but are presented as if the reporting was classified by nature.
Note:
Be aware that if the reporting shows a separate line for staff costs and a separate line for depreciation/amortization, the reporting is classified by nature.
How you allocate your numbers in the internally and externally reporting has a big impact on how to create and modify your Konsolidator group accounts.
Therefore, the final Konsolidator setup depends on how you extract your data from your local ERP system and the needs in the different reports.
We have selected IFRS PL by Function and IFRS Balance sheet current assets in this example.
In the preview section for bought profit/loss and balance sheet, you can dig further into the accounts by clicking on the small + icon. After identifying and selecting the correct standard group accounts, click on the save button.
Hereafter an overview of the selected group accounts will appear.
The button Expand All, Collapse All allows you to dig deeper into the created standard accounts.
