Working in a Single-Tier Consolidated Engagement

You can view the trial balance data and reports at either the consolidated level, or a subsidiary level.

To select the entity to view, do the following:

  1. At the top of the page, click the icon.
  2. Select the entity you want to view. The consolidated entity is always the first item on the list. Then, each subsidiary with an imported trial balance is listed in the same order as they appear on the Subsidiary Setup page.

The data that displays on the page is for the selected entity.

Trial Balance Page

For a financial consolidated engagement, the "Financial" tab displays on the trial balance page. For a tax consolidated engagement, the “Tax” and “Send to Tax” tabs display on the trial balance page.

  • When viewing the consolidated entity, you can view the subsidiary data in columns or in rows.
    • View Subsidiaries in Columns: This is the default view for the consolidated entity.

      • The subsidiaries are displayed in columns in the order they appear on the Subsidiary Setup page. To change the order on the trial balance, you must change the order on the Subsidiary Setup page.

      • The subsidiary columns show the Final balance type for a financial consolidated engagement and the Tax balance type for a tax consolidated engagement.

      • You can add comments and tickmarks to the Final or Tax balance for each subsidiary’s subgroups and groups.

      • Refer to Using Annotations for information on working with comments and tickmarks.

      • If you have more than 3 subsidiaries, you will need to choose to show the other subsidiary columns.

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

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

        • Click outside the list of columns to close the columns window.

      • Columns after the subsidiaries:.

        • The "Subsidiary Total"’ column sums up all the subsidiary balances for each row. This is the total for all subsidiaries, even if a subsidiary column is currently hidden from view.

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

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

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

      • The rows and amounts are the account balances for each subsidiary summed up to either the financial groups and subgroups, or the tax groups and subgroups.

    • View Subsidiaries in Rows:

      • The subsidiaries are displayed in rows in the order they appear on the Subsidiary Setup page. To change the order on the trial balance, you must change the order on the Subsidiary Setup page.

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

      • The columns show all balance types and journal entry types for each subsidiary.

  • When viewing a subsidiary entity, the trial balance rows are the imported accounts and balances. You can perform the same tasks on a subsidiary view that you can perform in a trial balance for a non-consolidated engagement such as: assigning groups and subgroups, adding journal entries, importing the trial balance again, adding/editing accounts and groups, and exporting and creating TB Reports.

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.

Leadsheets Pages are Available with Financial Consolidated Engagements.

The consolidated view displays a row for each subsidiary that has accounts assigned to the leadsheet. To view the account detail for a subsidiary, click the arrownext to a subsidiary to expand the subsidiary.

This view includes the following columns which are not available for non-consolidated engagements and subsidiaries:

  • 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.

You can add comments and tickmarks to the Final balance at account level and subgroup level for each subsidiary.

The subsidiary view displays the accounts and balances assigned to the leadsheet. You can add comments, tick marks, and journal entries.

The Financial Statements Page is Available with Financial Consolidated Engagements.

The consolidated view displays the consolidated totals for all subsidiaries. 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 view displays four levels:

  1. Tax group
  2. Tax sub-group
  3. Subsidiary
  4. Accounts

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

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) from the consolidated view.

You can add comments and tickmarks to the Final balance at account level and subgroup level for each subsidiary, as well as aggregate subgroup and aggregate group level for the parent.

The subsidiary view displays three levels:

  1. Tax group
  2. Tax sub-group
  3. Accounts

Click the arrownext 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 view displays four levels under each Type and Classification:

  1. Financial group

  2. Financial Sub-group

  3. Subsidiary

  4. Accounts

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

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) from the consolidated view.

You can add comments and tickmarks to the Final balance at account level and subgroup level for each subsidiary.

The subsidiary view displays three levels under the Type and Classification:

  1. Tax group
  2. Tax sub-group
  3. Accounts

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