Consolidating Transactions

Use the G/L Consolidate Posted Transactions screen to reduce detail in reports by consolidating (combining) details in the accounts for which you do not need a permanent record of every transaction.

Important! When you consolidate transactions, you lose any optional field information that was posted with the transactions.

Before you start

1. Post outstanding batches.
2. Print the G/L Transactions Listing to obtain a report of full transaction detail for your audit trail.
3. If you will not be consolidating by source code, print the source journals you require.
4. Determine whether to consolidate by account number or segment, and the range of accounts or segments to consolidate.
5. Decide on the fiscal year and period up to which to consolidate transactions.
6. Determine whether to consolidate by account and fiscal period or by account, fiscal period, and source code.

   If you do not consolidate by source code, assign the source code to assign to consolidated transactions.

7. Back up your data.

To consolidate transactions:

1. Open General Ledger > G/L Periodic Processing >  Consolidate Posted Transactions.

2. In the Consolidate for field, specify how to select accounts for consolidation.

   You can by account number or by segment.

3. In the From and To fields, specify the range of account numbers or segments for which to consolidate posted transactions.
4. In the Through Period Ending field, specify the last fiscal year and period through which to consolidate transactions.
5. Use the Consolidate By fields to specify whether to consolidate by:
   • Account and fiscal period, where all transactions for the same account and fiscal period are consolidated into one transaction. If you are consolidating by account and fiscal period, enter the source code to assign to consolidated transactions.
   • Account, fiscal period and source code, where transactions are consolidated only if they have the same source code.
   • Account, fiscal period, and source ledger, where transactions are consolidated if they share the same source ledger. If you are consolidating by account, fiscal period, and source ledger, select the ledgers whose transactions you are consolidating, as well as the source code to assign to consolidated transactions from the source ledger.

     If you use a multicurrency ledger, amounts are also consolidated by source currency.

6. Click Process.

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