What is Consolidation in GL?
It Consolidates the Subsidiaries & Parent financial information. At a point of time we can check the Performance of the Companies overall Performance. When we have multiple setup and combine primary and secondary books getting the financial reports is called consolidation We will use consolidation reports at the time of period end closing Consolidation is the Process of combining the Financial results of different companies typically combining subsidiary accounting information into a parent company.The main purpose of consolidation is for reporting purpose. Consolidation is the period-end process of combing the financials of separate subsidiary with the pay rent company to from single ,combine statement of final result consolidation is one of the reporting tool.consolidation may map the subsidiary set of books to parent set of books, even if the set of books values are different using segment rule,accounting rule It is the process of combining the financial results of multiple companie
