Create a Group

A consolidated group is a type of an entity. When you create a consolidated group, the system automatically aggregates the tax calculations of each group member and displays the consolidated tax position and tax notes reports, for each tax year. You create a consolidated group for accounting or tax purposes.

Step 1 – Create Entities for the group members and group

1. Create an entity for each member of the group.
2. Create an entity for the group itself, selecting Consolidated Financial Statements or Consolidated Tax Group, as applicable, from the Entity Type drop-down list.

Step 2 – Add Members to the group

1. On the group’s Home page, click the Members tab.
2. Set Date group formed.
3. Click Add entity to group.
4. In the Entity box, start typing the name of one of the group members, then click the group member (entity) in the list that displays. If the group member does not display in the list, it means an entity has not been created in the system for it, or a subscription has not been added for the entity.
5. Enter the date the entity joined the group (the first day of the tax year that you want the entity in the group).
6. Click Add entity to group.
7. Repeat the above steps until you have added all of the member entities to the group.

Optional – Remove a Member from a Group

There are two scenarios where you might want to remove a member from a group:

1. Scenario 1:  For your own reason, for example, if you added a member to the wrong group. In this case, you can remove the member completely and no record of it will remain in the group. The calculation in the underlying member will not be deleted.
2. Scenario 2: If the entity has left the group after being part of the group for some time, you will want to record this but leave the calculations correct for the time it was a member of the group.

To remove a member:

1. Open the Consolidated Group Entity.
2. Click the Members tab.
3. Click the Member you want to remove.
4. To remove the Member completely (scenario 1 above): Click Remove from group, then refresh your screen.
5. To remove the Member and retain the calculations (scenario 2 above): In the Date left box, set the end of the tax year as the date the entity left the group.
6. Click Save.