Intercompany and Consolidation

My customer is at the moment implementing NAV. They have 12 companies. They have a single bank account. Standard NAV functionality with separate companies assumes each company will have its own bank account. I understand consolidation will require the use of a virtual account to ensure the total the net of all the following bank accounts, but how do we set up the system for bank account reconciliations. One finance person will be responsible for the bank reconciliation.

Hi Marianne,

… not easy. Having the same balance in every company won’t be right. IMO, the best try would be to:

  • specify one holder of the account (the legal company who opened it, preferrably) and post all transactions there, and do the bank account reconciliation there

  • specify one current account for each entity (company) and post all transactions belonging to this entity against this account

  • have the same current account in each company to mirror the balance belonging to themselves.

All bank transactions originating from one of the other companies not holding the account result in at least two postings, one in the originating compayny and one in the account holding company. This sounds tedious, but is the better way to do it. [:)] I would recommend introducing a field called “Intercompany Code” in the G/L entries to keep track of IC postings when it comes to consolidated views.

I am using this method for my own accounting (together with open G/L Entries for easier reconciliation) and it’s working nicely.

with best regards


I agree with Jens, but would also suggest that you create a bank dimension and link one to transactions for each companies money, this will make it easier to create reports and consolidate later.

Thank you. I have spoken to the customer and they will setup seperate bank accounts

I have another problem and it might be that because I have not used the consolidation before I am doing something incorrectly. The companies are setup in one database. I first import the database into the Business units to get the figures and this works correctly. I then preview the Elimination report and it show all the intercompany transactions, however when I print it and select the journal and batch it does not transfer the transactions into the journal and I cant find it anywhere. What am I doing wrong? [8-)]6523.Screenshot.jpg