The consolidation process requires the execution of multiple and different activities which involve different actors at Group and Local level.
We have chosen to describe the process across the different steps that are required, giving the description a functional profile.
Open the Capsule BFC_Process_Manager.
General Concept :
> A consolidation Process always refers to an unique combination of Scenario and Period : multiple combinations can be run in parallel .
> The owner of the process always works with a Group perspective with unlimited view across RUs data : local users have visibility on single or multiple RUs only, through their System Security Profiles definition.
> The process is delivered across four different macro-phases
- Scenario Opening (from the Scenario Manager Screen)
- Data Collection : from the Local Reporting Capsule
- Scenario Setup : Consolidation Scopes and Exchange Rates
- Consolidation Process Execution
- Consolidation Process Verification and Group Reporting
This section walks you through all of them.
Which
minimal data do you require to start an effective consolidation process?
> All the information required to complete the System Configuration (please see Chapter 2)
> Balance Sheet and Profit and Loss balances of the Last Period of the Previous Fiscal Year . The Last period is the month indicated in the General Setting Property as Last Period of the Year (by Default December)
- It is admitted to Load Balance Sheet only if there are at least two Profit and Loss Accounts to calculate the Profit for the Period
- It is admitted to Load all the Balances on the Closing (CLO) Movement only. This cause for the First Financial Consolidation Year to have the Error Flow (ERR) = Closing (CLO) Flow and the Change in Consolidation Scope (CCA) = Closing Flow (CLO)
> Balance Sheet and Profit and Loss balances (and Movements) of the current Consolidation Period current period
- Movement Details for Movement Accounts are mandatory
> Currency Exchange Rates of both periods
> Share and Control Percentage of both periods of all the Consolidation Nodes
> Trail Balances must be given with proper sign (Credit are Negative, and Debit are Positive)
Which process steps you have to run to consolidate the n-period?
1 Complete all the tasks mentioned in the "Chapter 3 - System Configuration" section
2 Execute the Consolidation of the Last Period of the Previous Fiscal Year
> Set the Previous Fiscal Year as Current FY in the Calendar Settings
> Open the scenario/period
> Load Accounts balances of the scenario/period
> Load Currency Exchange Rates of the scenario/period
> Load Share and Control Percentage of the scenario/period
> Run the Consolidation process of the scenario/period
> Close the scenario/period (optional)
3 Execute the re-Opening of the Current FY
> Set the Current FY as Current FY in the Calendar Settings
> Execute the Re-Opening of the Current FY
4 Execute the Consolidation of the Current Period of the Current Fiscal Year
> Open the scenario/period
> Load Accounts balances of the scenario/period
> Load Currency Exchange Rates of the scenario/period
> Load (or Copy) Share and Control Percentage of the scenario/period
> Complete all the tasks mentioned in the "Chapter 3 - System Configuration" section if any new logics must be considered (i.e. new Accounts, movements etc)
> Run the Consolidation process of the scenario/period