SyteLine Consolidation Reporting Setup Guide
Consolidated financial reporting in SyteLine aggregates financial data from multiple legal entities into a single set of financial statements. The consolidation process involves collecting trial balances from each entity, translating foreign currency balances, eliminating intercompany transactions, and producing consolidated balance sheets and income statements. This guide covers the SyteLine configuration and process steps required for accurate financial consolidation.
Multi-Entity Trial Balance Collection
The consolidation process begins by extracting trial balances from each SyteLine entity at period end. Each entity must have completed its period-end close procedures including journal posting, subledger reconciliation, and intercompany balance confirmation before trial balance extraction. The trial balance data includes account balances by period, functional currency amounts, and account segment details needed for consolidation mapping. SyteLine stores general ledger balances in the chart_acct_bal table which can be queried programmatically for each entity.
- Establish a consolidation calendar with entity-level close deadlines and trial balance submission dates
- Extract trial balances from each entity using the chart_acct_bal table filtered by fiscal period and year
- Validate trial balance completeness by confirming zero out-of-balance conditions per entity before consolidation
- Map entity-level accounts to the consolidated chart of accounts using account cross-reference tables
- Automate trial balance extraction using scheduled SQL jobs or Infor ION Sync.JournalEntryHeader BODs
Currency Translation Configuration
For multinational organizations with entities operating in different functional currencies, currency translation converts each entity's trial balance into the reporting currency before consolidation. SyteLine supports the three standard translation methods: current rate (balance sheet at closing rate, income statement at average rate), temporal method (monetary items at closing rate, non-monetary at historical), and the all-current method. Translation gains and losses are accumulated in a Currency Translation Adjustment (CTA) equity account.
- Configure exchange rate tables with period-end closing rates and monthly average rates for each currency pair
- Assign translation method per entity based on functional currency designation and accounting standard requirements
- Map balance sheet accounts to closing rate and income statement accounts to average rate for current-rate method
- Designate a CTA equity account in the consolidated chart of accounts for translation gain/loss accumulation
- Validate translated trial balances against source entity balances to detect translation calculation errors
Elimination Entries and Consolidated Statements
Elimination entries remove the effect of intercompany transactions from consolidated financial statements. Standard eliminations include intercompany receivable/payable balances, intercompany revenue and cost of goods sold, intercompany profit in inventory, and investment in subsidiary balances. SyteLine provides journal entry functionality for posting elimination entries in the consolidated entity. The final consolidated financial statements (balance sheet, income statement, cash flow) are produced after all eliminations are complete.
- Auto-generate intercompany receivable/payable elimination entries from the reconciliation report balances
- Eliminate intercompany revenue and COGS by matching sales and purchase amounts between trading entity pairs
- Calculate and eliminate unrealized intercompany profit on inventory that has not been sold to external parties
- Post investment elimination entries for subsidiary equity against the parent company investment account
- Produce consolidated financial statements using SyteLine financial reports or export to Infor d/EPM for formatting
Streamline your consolidation reporting process in SyteLine. Netray provides expert configuration of multi-entity consolidation, translation, and elimination workflows.
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