Consolidating accounts examples
These Consolidation Reports are reports which are specific in the Consolidated Ledger module.Primarily, these reports provide detailed information about the chart of accounts mapping, consolidation of account balances and budget data.The more you have to invest, the faster you may be able to build your wealth for retirement.However you should consider your insurance arrangements before consolidating your accounts. You don’t have to work extra hours or pay more into your super fund, just merge them all into one. Let’s say 00 earns 10% interest in the first year. In the second year, your original investment of 00 has grown to 00 thanks to the 0 interest. This time you get 0 worth of interest after a year. Even with this very basic example you can see how quickly compound interest grows your money.The Chart of Accounts Mapping List provides information about the subsidiary company's GL Account IDs which are mapped to the parent company's GL Account IDs.
Subsidiary: an entity, including an unincorporated entity such as a partnership, that is controlled by another entity (known as the parent).
You can select to generate the report for mapped accounts only, unmapped accounts only, or all accounts.
The Consolidated Account Balance Analysis report provides information about the subsidiary company's GL Account ID balances that are included in the parent company's GL Account ID balances.
Imagine how much more money you could be making if you rolled your accounts into one place.
Having all of your super in one fund means you’re able to maximise growth and may pay less in administration fees.