Setting up a Consolidation Company in Lawson

We have several companies set up in Lawson and manually consolidate the financials. We would like to create a consolidation company in Lawson in order to consolidate our financials through a consolidation company. Does anyone have experience or currently use a consolidation company in Lawson?

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Legacy Contributor

I am currently investigating something similar. Did you ever receive any feedback or successfully put it into production?

Legacy Contributor

I did not receive any feedback, but I have successfully put our consolidated companies into production.

The trick is you have to set up Translation Currency accounts in the GL00.3 and then select the 'More' button which will take you to the GL00.4 and assign them a translation code 'BS' in the Currency Tab.

After that go to your chart of accounts GL00.1 and inquire on your Chart and then select the 'System Accounts' tab and in the Currency tab enter in the translation accounts you just created.

Once these translation accounts are set up go in and create your consolidation companies. I used the GL110 and just copied are existing company since all the accounts were the same.

On thing to remember is if you do it this way you will need to go into your GL01 for the consolidation company and remove any closing system controls you have on the company you are copying over.

Once you have copied the company go into your GL10 and pull the consolidation company you have just created and set the 'Status' to Consolidation and in the 'Currency' tab set the Translation to 'YES'.

Once this is complete you can run your GL195 to copy the companies over.

Hope this helps. Please feel free to reach out with any more questions.

Legacy Contributor

Thanks so much for the helpful tips!

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