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This page allows you to define a consolidation run for consolidating the “Main” finance book of the parent/child company with the “Consolidation” finance book of the parent company. Tell me more.
Select the “Consolidate Company” link under the “Company Consolidation” business component.
The “Consolidate Company” page appears.
Enter the following fields:
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Consolidation Run No |
A unique number identifying the consolidation run (Alphanumeric, 20).Mandatory. |
Note: This field can be left blank if the parameter “Automatic Generation of Consolidation Run” is set to “Yes” at the company level.
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Remarks |
Any observations or additional details pertaining to the creation of the consolidation run (Alphanumeric, 255). |
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Zoom facility available |
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Company |
Use the drop-down list box to select the child/parent company that you want to consolidate. |
The system displays the following in the “Financial Calendar Information of Selected Company” group box:
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Financial Year |
The code identifying the financial year for which the child company is yet to be consolidated with the parent company. This financial year must also be in the “Closed” status. |
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Financial Period From |
The code identifying the financial period for which child company is yet to be consolidated with the parent company. This financial period must also be in the “Closed” status. |
Select the following field in the “Financial Calendar Information” group box:
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To |
Use the drop-down list box to select the code identifying the financial period till which the child company has to be consolidated with the parent company. All the financial periods for which the consolidation has not been completed and that are in the “Closed” status will be available for selection in the chronological order. |
The system displays the following in the “Currency Information” group box:
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Parent Company Base Currency |
The code identifying the base currency of the parent company. |
Note: The system would display ““Login Company’s Base Currency” if the login company does not have a parent company.
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Child Company Base Currency |
The code identifying the base currency of the child company. |
Note: The system would display ““Login Company’s Base Currency” if the login company does not have a child currency.
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Child Company Parallel Base Currency |
The code identifying the parallel base currency of the child company. |
Note: The system would display ““Login Company’s Base Currency” if the login company does not have a child company .
The system would display “Blank” if the login company does not have a child and parallel base currency.
Enter the following field in the “Currency Information” group box:
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Consolidation Currency |
Use the drop-down list box to set whether the consolidation is to be done in the “Base Currency” or the “Parallel Base Currency” of the company. You can select from “Base Currency”, “Parallel Base Currency” or “Conversion”. The system displays “Base Currency” by default on launch of the page. |
Note: If the base currency of the login company is not the same as the base currency of the parent company then “Parallel Base Currency” and “Conversion” will be available for selection.
If “Base Currency” is selected, the base currency of the child company must be the same as the base currency of the parent company .If “Parallel Base Currency” is selected, the parallel base currency of the child company must be the same as the base currency of the parent company. If “Conversion” is selected exchange rate must be entered in the “Apply Conversion Rates” page.
Click the “Save” pushbutton to save the consolidation run temporarily.
The system generates a unique consolidation run number and saves the details of the consolidation run. The system also updates the status of the run as “Fresh” if the balances in the base currency of the child company are to be converted to the base currency of the parent company. The system also updates the login ID of the user and the system date in the “Created By” and the “Created Date” fields.
Click the “Validate” pushbutton to execute the validations for consolidation.
Click the “Consolidate” pushbutton to create a consolidation run for the company.
The system generates a unique consolidation run number and saves the details of the consolidation run. The system updates the status of the run as “Consolidated”. The system also updates the login ID of the user and the system date in the “Created By” and “Created Date” fields.
The system displays the following:
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Created By |
The login ID of the user who has created the consolidation run. |
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Created Date |
The date on which the consolidation run was created. |
To proceed, carry out the following
Select the “Apply Conversion Rates” link at the bottom of the page to modify the exchange rates for consolidation.
Select the “View Error Log” link at the bottom of the page to view the errors relating to consolidation.
Consolidating company – An overview
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You can define a consolidation run for consolidating the “Main” finance book or the “Consolidation” finance book of a child company with the “Consolidation” finance book of the parent company.
You can select the company, which you want to consolidate. You can also set whether you want to consolidate using the base currency, parallel base currency or by converting the balances of the child company. The system generates a unique number identifying the consolidation run. The status of the consolidation run is updated as “Fresh/Consolidated”. The system also stores the login ID of the user and the system date along with the newly created consolidation run details.
This page also gives you the facility to save the consolidation run details temporarily till the exchange rates for conversion of balances has been entered. The consolidation process starts after the exchange rates have been entered.
You can consolidate the balances of the child company in the base currency or the parallel base currency of the child company. You can also consolidate the balances by converting the balances of the child company using the provided exchange rates. Refer Example.
Set the “Consolidation Currency” to “Base Currency” if you want to consolidate the balances in the base currency of the child company.
Set the “Consolidation Currency” to “Parallel Base Currency” if you want to consolidate the balances in the parallel base currency of the child company.
Set the “Consolidation Currency” to “Conversion” if you want to consolidate by converting the balances in the base currency of the child company to the base currency of the parent company.
You can save the consolidation run temporarily till you enter the exchange rate details. This is applicable only when conversion of balances is required.
Click the “Save” pushbutton to save the details of the consolidation run temporarily.
The system updates the status of the consolidation run as “Saved”.
You can validate the Consolidation run before consolidating. This is applicable only when the currency option is Base/Parallel Based. When the option is “convert”, Validation needs to be done in Apply Conversion Page.
Click the “Save” pushbutton to save the details of the consolidation run temporarily.
Click the “Validate” pushbutton to validate, to execute all the validations regarding the account code validity, Exchange rate mapping etc.
