Get started with group consolidation /periodandyear/help/group-consolidation/get-started section 2025-03-05T17:27:27+01:00 # Get started with group consolidation To get started with **Group consolidation** a new client must be created. Once this is done you can set up the group structure, manage chart of accounts and eleminations. Create client /periodandyear/help/group-consolidation/get-started/create-client page 2025-03-05T17:27:27+01:00 # Create client A distinct client must be established for the consolidated financial statements, requiring the parent company to have two clients, one for the tax return and another for the consolidation of the group accounts. The consolidation client is created in the client registry, and under **Company Category**, select *Group consolidation*. The **company type** will then automatically be set to *Group consolidation*. Once the consolidation client is created, click on the client to access the **Start page**. Select **Start period** to enter the relevant financial year. Group Structure /periodandyear/help/group-consolidation/get-started/group-structure page 2025-03-05T17:27:27+01:00 # Group Structure ## Set up the Group Structure Under the menu **Companies** in the group, add the relevant companies to be included in the consolidated financial statements. You may **Add companies from Period & Year**, **Manually register** a company with an Excel import, or convert a client from **Finale Konsolidering**. * **Add Company - Companies from Period & Year** Tick the relevant client names in the Add Companies from Period & Year dialog box and click Add. * **Add Company - Manually Registered** Enter the company's registration number, company name, and click OK. * **Add company - Finale Konsolidering**

Export from Finale Konsolidering to Period and Year

Automatic update of Finale Konsolidering v37

Finale Konsolidering version 37 will, starting with update 3, include a function to export data to Period and Year. To receive automatic updates, it is enough to log in to the program. A message will appear stating that the update has been downloaded and is ready for installation. After this, it is necessary to close the program and start it again, in order to activate the update.

Finale Konsolidering can produce an exportfile (zip-file) with data from an opened client in Finale konsolidering. The file is automatically named by Finale Konsolidering as follows:

EXPnnnnn - yyyy - ‘client name’ - Finale Konsolidering.zip

nnnnn - is the client number in Finale Konsolidering
yyyy - is the year exported ‘client name’ - is the name of the client

To export the client, do the following:

  1. Open the client in Finale Konsolidering.
  2. Select Company - Export to Period and Year.
  3. Select the destination directory for the export file.
  4. Click on Export and wait for feedback that the client has been exported.
Created companies are displayed on the left of the screen. When a company is selected on the left side of the screen, the tabs Settings, Imported values, and Chart of Accounts are displayed. Under the **Settings** tab, the company's registration number and name are shown. > [!NOTE] If an imported client's registration number matches the registration number entered in the group consolidation client, it will be automatically checked as the parent company. Chart of accounts /periodandyear/help/group-consolidation/get-started/chart-of-accounts page 2025-03-05T17:27:27+01:00 # Chart of accounts ### Group Chart of Accounts The group has its own chart of accounts, which is automatically set up when establishing the financial year. The reference chart of accounts is automatically generated as the chart of accounts for the group, where all accounts in the group chart of accounts are automatically created. It is possible to change the group's chart of accounts subsequently, for example, where it is necessary to split an account into several parts for presentation in the annual report. ### Individual Company Charts of Accounts A significant change from Finale Consolidation is that Period & Year draws in the chart of accounts from the individual companies for both reports and eliminations. The chart of accounts operates at three different levels: * Company's account (linked to a group account) * Group account (linked to a reference account) * Reference account (controls the proposal for the accounting line in the annual report) Each account is automatically linked to a group account, but this linkage can be changed if needed, for example, if an account needs to be presented individually on an accounting line or if the automatic linkage does not become accurate. When importing companies from a client in Period & Year, the reference account from the client is used to assign a link to the group account. The affiliation may change in the group consolidation. When importing a chart of accounts from an Excel spreadsheet, the connection to a group account is assigned automatically based on the account number, but can be changed after importing the account. ### Importing Accounting values from Individual Companies Under the **Imported values** tab, the client's imported balances are displayed. The parent company will show the current year, the previous year, and the year before that balance if applicable. Subsidiaries will only show the import of the current year's trial balance. The **Chart of Accounts** tab shows the company's imported client account, reference account, and related group account according to the group chart of accounts, as well as the reference account for the group account. The relevant accounting line in the annual report is also displayed. Group accounts in the group chart of accounts are editable in this view so that the user can reassign a different group account if desired. Eleminations /periodandyear/help/group-consolidation/get-started/eleminations page 2025-03-11T07:43:19+01:00 # Eleminations ### Elimination Types The following elimination types are available in group consolidation: * Manual elimination * at group account level * at company chart of accounts level * Automatic elimination * at group account level * at company chart of accounts level * Minority Interests * Acquisitions and Excess Values ### Manual Elimination Manual elimination is direct registration of eliminations where an elimination is carried out with a fixed amount on a fixed account. Manual eliminations have the following options for carryforward to a new period: * Do not carry over to a new period * Carry over to new period with reset amounts * Carry over to a new period Manual elimination at company level involves selecting the company and then one of the company’s accounts on each posting line. The elimination will appear as part of the company's balance figures in the trial balance structure. The posting line will follow the company’s account. If the company's account is linked to another group account, the posting will follow the company’s account and affect the new group account. ### Manual Elimination at Group Account Level This elimination type is equivalent to manual elimination in Finale Consolidation. Upon import from Finale Consolidation, manual eliminations will be assigned this elimination type. The elimination is carried out directly in the group structure and will not be displayed as part of the balance figures for the individual group companies in the trial balance function. ### Automatic Elimination Automatic eliminations read the balance on the chosen account/company and nullify this by creating an elimination against a selected contra account. If the balance changes on the chosen account/company, the elimination automatically changes. The balance figures used for the elimination are the imported balance before eliminations. Automatic eliminations have the following options for carryforward to a new period: * Do not carry over to a new period * Carry over to new period Please note the following: An automatic elimination uses imported balance figures before all eliminations without considering other eliminations against the same account or group account. If automatic eliminations are set to use balance figures for an account, and another elimination is set up using balance figures from the same account, the same balance can be eliminated multiple times. ### Automatic Elimination at Company Level This elimination type involves choosing the company and then one of the company's accounts on each posting line. The elimination will appear as part of the company's balance figures in the trial balance structure. The posting line will follow the company's account. If the company's account is linked to another group account, the posting will follow the company's account and affect the new group account. The balance figure used is the company's balance before eliminations on the specified account. ### Automatic Elimination at Group Account Level This elimination type is equivalent to automatic elimination in Finale Consolidation. Upon import from Finale Consolidation, automatic eliminations will be assigned this elimination type. The elimination is carried out directly within the group structure and will not be displayed as part of the balance figures for the individual group companies in the trial balance function. By selecting a company on the elimination line, the elimination will use the account balance of this company. The amount will consist of the balance on all the company's accounts linked to the chosen group account. By not selecting a company on the elimination line, the elimination will use the account balance for all accounts linked to this group account for all companies within the group. The amount will consist of the balance on all company accounts linked to the selected group account. ### Elimination of minority interests Elimination of minority interests is done automatically based on the company accounts of the subsidiary by doing the following: * State that there are minority interests in the subsidiary * On the Minority interests tab, the minority's share in percentage of annual profit and equity is recorded. Based on this registration, an elimination is created, which is also shown on the Minority interests tab. ### Elimination of acquisitions and surplus values This elimination is based on a registration of: * Additional value in amount * Undepreciated surplus value at the beginning of the year * Depreciation of surplus value in percentage or annual amount * Tax percentage * Minority's share of surplus value Based on this information, an elimination is created. Please note that the counterpart entry to the elimination is equity. This means that, for example, when you create an elimination of the share value in a subsidiary with surplus value, you eliminate the share value as it will be when the surplus value is fully depreciated, i.e. against equity, so that the elimination of shares and acquisition transactions must be seen in context. ### Elimination of changes in dispositions and allocations When registering eliminations, a profit effect may occur that must be taken into account in order to make the allocation appropriate the entire annual profit and to make the balance sheet balance. An example of an elimination that can create such a difference is the elimination of intragroup profit if this is eliminated credit fixed assets and debit gain on disposal. This elimination creates an elimination with these two accounts involved: * Account with reference account 2050 Other retained earnings * Account with reference account 8960 To/from other retained earnings