Consolidation of financial statement from management reporter in D365 F&SC
Deepak Singh
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Often, different legal entities have different charts of accounts but still want to produce consolidated financial statements. In this situation, Financial reporting can be used to consolidate the data, so that you can generate consolidated financial reports. The same can be run for same chart of account as well. But for same fiscal period.
Business Requirement
Business require to view the consolidated financial statement for internal reporting or analysis purpose or to publish it publicly as per the legal requirement of holding and subsidiary company relationship. To meet the above requirement we have standards solution of online consolidation where a new consolidated legal entity is created and consolidation and elimination process is run in the consolidated company with some set of rules. But in this blog we will talk about the different method where consolidated financial statement will be generated using Management Reporter (Financial Report) directly.
Lets, understand the step by step process of configuring Management Reporter for consolidated financial statement.
Configuration
Step 1: Open Financial Report
Go to General Ledger module and click on financial report
Step 2: Go to Management reporter
Click NEW or EDIT to open Management reporter
Step 3: Create new Row Definition
Double click on Row Definition > Click on New in header > then click Row Definition to open new row definition
Step 4: Create new Link to Financial Dimension
Double click on Link to financial dimension to add as many company as you want to run consolidated financial statement
Step 5: Define financial reporting rule for USMF
Currently we are in USMF entity so rule for USMF column will be defined. For demo purpose we are defining the rule main account category wise
Step 6: Define financial reporting rule for USRT
Define rule for revenue for USRT as defined for USMF in step 5
Save the created row definition rule
Step 7: Define Reporting Tree Definition
Define reporting tree definition with linking row definition with created financial dimension link
Define value for Company | Unit Name | Unit Description and Select created row definition and Financial Dimension Link
Press Ctrl+S from keyboard to save the definition
Step 8: Define Column Definition
Create new Column definition
Column definition will be defined as per requirement and given parameters. And save this column definition with name and description after pressing Ctrl+S
Consolidated Report Generation
Step 9: Create Report Definition
Create new report definition and select all the created row definition, column definition and reporting tree.
Save the Report Definition (Ctrl+S)
Step 10: Generate the Consolidated financial Report
As soon as we click OK an automatic consolidated financial report will be generated.
Step 11: View the Generated consolidated financial statement report
Automatically, consolidated financial statement report will be generated in separate D365 F&SC URL.
Bonus Point
Note: If fiscal period is different (1st Jan to 31st Dec OR 1st Apr to 31st Mar)of both the entities then the same consolidated financial statement can be run after defining start date and end date in column definition (which is hard coded period), in this case we have to change period covered as PERIODIC in column definition.
After this small change financial report can be generated for the defined period irrespective of fiscal calendar of both the entities. (this is a kind of workaround)
Thank You 🙂
Happy Learning Dear Learner!
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