Year end close -Urgent Help required

[MANDAR]

Hi,
I have a scenario:-
We have 4 different companies for business say 00100,00200,00300 & 00400 & we have Assets & liabilities only in company 00100.But for Annual close we want to do close companies 00200,00300 & 00400 also.
Can we direct GLG4 AAI to Business unit of Company 00100?
As we want the retained earnings to get calculated to 00100 company as all other companies are created for reporting & other purposes.Actually the Balance sheet accounts of these 3 companies do not have any balances.
Can we do this close of all companies directed to company 00100?Whether we will face any Integrity issue?
Please guide as early as possible.
Best Regards.
MANDAR.

 

[dschnittler]

Mandar, I'm affraid thsi will not work. The reason is that the year-end close pgm does not create journal entries but rather updates retained earnings. Thus it cannot create the inter company records that would be required for your operation.
I can think of two options that you have: Either you the consolidation pgm, create a consol company and run the close there or use FASTR to 'simulate' the close.
However the easiest may be to just close your books by company and then create the intercompany journals required to move retained earnings to company 00100.

 

[MANDAR]

Hi,
Thanks for reply.
But I have not understood the second part of your answer the one which you are referring to as easiest.I can close books company by company & then I need to pass an Manual journal entry between these companies for Retained Earnings Account? Is this you are suggesting?
Means after year end close process is complete we need to pass an manual journal entry to bring the retained earnings into main company?
Please confirm or correct.
Thanks & Best Regards.
MANDAR