Micronet General Ledger enables you to consolidate your account summary data into one ledger for reporting and inquiry purposes. With MGL you may operate 25 companies concurrently (Companies A to Y). Company Z is reserved for consolidation reporting.
All transactions should be done in Companies A to Y. However, consolidation elimination journal entries may be done in Company Z. Standard and edited reports are available for each of the Companies A-Y, as well as the consolidation Company Z.
An additional company licence fee is required for Companies B to Y; Company Z can be supplied without any additional licence fee by contacting Micronet or your authorised Micronet dealer for details. Once you have obtained the licence codes for the extra companies (including a licence code for Company Z), it is necessary to enter the company detail information for each of the additional companies, including consolidation Company Z.
Any two or more General Ledgers can be consolidated at any one time. Accounts that are to be consolidated into Company Z must have the same account numbers in the source companies. Where Company Z finds two source accounts with the same number, the account balances are added together. Where Company Z finds only one account, then that account is listed as it is.
This diagram shows the consolidation flow.