This would put you in the position of either implementing a new system for your legal entity that supports consolidation from other systems, or implementing a consolidation tool that is separate from your ERP environment.
The separate consolidation tool category includes Adaptive Planning, a tool that is certainly very popular.
These transactions can be simple or complex, but generally involve the acquirer buying a majority of the stock of the target company.
This majority position enables the acquirer to exercise control over the other company.
Organizations often have complex structures with multiple business or operating units and legal entities with varying degrees of ownership.
If your organization comprises more than one business unit or operating entity, you can consolidate these organizations when you report on overall operations, presenting financial statements that accurately describe your financial status.
Intacct produces a detailed journal entry report for every consolidation, giving you auditability.
Your financial statements are ready when you are, and closing the books has never been this effortless.To gain a complete picture of the entire organization, you combine (consolidate) all the assets and liabilities of each business unit, eliminating intercompany transactions and minority interest relationships by creating consolidation elimination journal entries.You use trees to define the relationships among business units in a consolidation, creating a separate consolidation tree for each configuration.Intacct makes it easy to manage the financials for multiple locations and multiple entities, whether your business structure is simple or complex, domestic or global.With Intacct, you can automate activities including currency conversions, inter-entity transactions, local tax reporting, and more.Consolidated Manufacturing also owns several buildings used by subsidiaries that record the payment of rent to corporate headquarters through intercompany accounts.