Consolidation Accounts would be used where there are multiple trading divisions or locations and you wish to add each of the Total Sales accounts into one Consolidated Account.
At present three Division / Location branches can be set up using the ID prefix of 10- 20- and 30- and a consolidation section of 80-.
Consolidating accounts are set up in numeric order,all of the 10-'s, then the 20-'s, 30-'s adding into the 80-'s.
When setting up a new GL ID, they have to add into the Consolidating account.
When running the Profit and Loss report all of these areas will be displayed.
The chart in the Demonstration Company is set up using a consolidating account.