Adagio Support Tip Of The Month: Combining Financial Statements
Question: I’d like to produce combined financial statements from five companies. Most do not have the same chart of accounts, although this is something I’d like to change. How can I do this?
Answer: The module for producing combined financial statements is Adagio FX Pro. To simplify the process of creating the new reports, we recommend using the Toolkit for Adagio to normalize the chart of accounts in the various companies.
Then, moving forward, the entire process of retrieving the general ledger information and producing the statements can be automated.
Adagio FX looks and works just like Adagio Ledger, except you can’t post to it, only report from it. A nice thing about FX is that you don’t have to re-create the Ledger financial statement specs – they can be ported over to FX.
Also, another nice thing is that when someone uses FX, they are in a COPY of the data, so they can’t do any harm and they also can’t conflict with other users, particularly if someone needs to run a Data Integrity Check.
This tip was inspired by a posting on the Softrak Technical Support Forum, where registered Adagio Accounting users can post questions to get answered by Softrak, members of the Adagio Consultant community, and fellow Adagio Accounting users. Be sure to check it out!