Setting up Subsidiaries

SOLVED

I found a discussion board that gave instructions on how to setup a subsidiary, by creating new companies with consolidated COA. We setup two additional accounts to the parent company with consolidated COA but when we logged into the new accounts (non-parent companies) the Financial Data from the Parent company populated. 

From my understanding what I add to the subsidiaries should populate upward and not vice versa, please advise on what I have done wrong. 

Thanks,

Crystal

  • +1
    verified answer

    Not sure if I understand your set up,  Let me explain how it works.

    Sub companies are Company A and Company B, PC is the Parent Company receives data from Subs A & B.

    You must set up PC as a "consolidation" company.  Then you can consolidate company A and B into PC.  All companies must have the same GL coa account length (size) and all must have the same Retained Earnings GL account number.  

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