What are Consolidated Valuations?
Consolidated valuations is a feature that will allow you to complete your valuations for all stock of the same type in one go, rather than tracker by tracker. The benefit of this is it guarantees a faster and more accurate valuations process.
How to set up consolidated valuations
To begin using consolidated valuations, first head over to the ‘Valuations’ tab under the Accounting section of your side menu. Once you are in there you will see a blue banner alerting you to the consolidated valuations option and above this in the top right hand side is a button that says ‘Consolidate Valuations’.
Once you click on this, a pop up box will be visible. You will then select the year you wish to be the first year you wish to start using with consolidated valuations, and click on the blue box to consolidate the trackers. The screen will display a progress % and once completed will redirect to the valuation settings for the new consolidated trackers.
⚠️ NOTE: Once the trackers have been consolidated for valuations there is no going back, this can not be undone
The newly consolidated trackers will have a valuations settings screen that is virtually identical to the individual tracker valuations settings screen with the primary difference being that all the account mapping for the individual trackers that comprise the consolidated valuations will display in this screen, as per below:
Customising consolidated valuations
Once consolidated valuations have been set up, all settings relating to valuations will apply across all the trackers. This includes default scheme and report settings.
End of Year Valuations
Now all stock numbers across all the trackers within the file will be a total. Any values for stock will be based off an average for stock across the entire operation rather than an individual tracker.
It is easy to see if the valuation for a given year is on a consolidated or individual basis when reviewing historical valuations. For valuations completed prior to consolidating, you will see a tracker selector available. This allows you to view and edit your existing valuations at the tracker level. From the first year of consolidation the tracker option will no-longer be available as valuations will now be completed at the stock-class level. As per the below comparison:
Management Valuations
There is now an option to select ‘All trackers’ when adding management valuations per head as per below:
If you already have some custom values entered and try to enter new ones for ‘All Trackers’ you will be prompted with a warning that it will overwrite the other values.
