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Dynamics 365 Community / Forums / Small and medium business | Business Central, N... / Consolidating a consol...
Small and medium business | Business Central, N...
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Consolidating a consolidation company

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Posted on by MisterRoo 5

New user to BC, learning functionality (or lack of) as I crash into it.

Running the books for x15 companies in multiple currencies, of which we have to prepare x2 sets of books.

The first set of books is an internal (management) consolidation which comprises x13 of the 15 companies.

The second set of books is an external (audited) set of books that comprises the x15 companies plus statutory adjustments

Ideally, my second consolidation is a consolidation of the first + additional business units (companies 14-15 + adjustments).

Is it possible to consolidate a consolidated company;

eg First Consol (Companies 1-13) + Companies 14-15 + Adjustments

or does each consolidation need to go down to the bottom level

eg Companies 1-15 + Adjustments 

  • Suggested answer
    Valentin Castravet Profile Picture
    Valentin Castravet 24,822 Super User 2024 Season 2 on at
    RE: Consolidating a consolidation company
    [quote user="MisterRoo"]

    Thanks Valetin,

    If I try and add Consolidation Company A as a business unit under Consolidation Company B - it does not appear as an option.

    Is there a feature I need to enable here?

    Note, my internal resources are saying that it is not possible to consolidated on top of another consolidation company.

    [/quote]

    Are you looking at the Company Name field on the Business Unit Card? There are no features that need to be enabled. Its definitely possible as I've done it many times. In the company name field you should see every company available in the database.

    To confirm, are Company A and B in the same database? 

  • Suggested answer
    DAnny3211 Profile Picture
    DAnny3211 9,272 Super User 2024 Season 1 on at
    RE: Consolidating a consolidation company

    hi

    it is possible to consolidate a consolidated company. You can use the standard consolidation functionality to perform this consolidation.

    To consolidate a consolidated company, you would need to set up the following:

    Define consolidation groups: In Business Central, you can define consolidation groups, which can include multiple companies that you want to consolidate. You can set up consolidation groups for each set of books you need to prepare (internal and external).

    Set up consolidation accounts: You will need to set up consolidation accounts for each account in your chart of accounts that you want to consolidate. These accounts should have the same names and numbers in each of the companies you are consolidating.

    Define consolidation rules: You will need to define consolidation rules that specify how each account in your chart of accounts should be consolidated. These rules determine how the accounts are combined and how the consolidation accounts are used.

    Perform consolidations: Once you have set up consolidation groups, consolidation accounts, and consolidation rules, you can perform the consolidations. You can use the standard consolidation functionality in Business Central to consolidate the companies in each group.

    To perform the consolidation you described (First Consol (Companies 1-13) + Companies 14-15 + Adjustments), you would need to set up the consolidation groups and accounts accordingly. You would perform the first consolidation of companies 1-13 and then consolidate this with companies 14-15 and the adjustments.

    It's important to note that each consolidation needs to go down to the lowest level of detail. So, for example, in the second set of books (external and audited), you would need to consolidate all 15 companies plus any statutory adjustments to arrive at the final consolidated financial statements.

    DAniele

  • MisterRoo Profile Picture
    MisterRoo 5 on at
    RE: Consolidating a consolidation company

    Thanks Valetin,

    If I try and add Consolidation Company A as a business unit under Consolidation Company B - it does not appear as an option.

    Is there a feature I need to enable here?

    Note, my internal resources are saying that it is not possible to consolidated on top of another consolidation company.

  • Suggested answer
    Valentin Castravet Profile Picture
    Valentin Castravet 24,822 Super User 2024 Season 2 on at
    RE: Consolidating a consolidation company

    Yes its possible to consolidate a consolidated company, so you could do it as per your first example eg First Consol (Companies 1-13) + Companies 14-15 + Adjustments

  • MisterRoo Profile Picture
    MisterRoo 5 on at
    RE: Consolidating a consolidation company

    Thanks Abhinav,

    Can you expand your answer a little bit?

    Can I create Consolidation A (Companies 1-13), and then create Consolidation B (Consolidation A + Companies 14-15)?

    OR

    Do I need to create a completely new Consolidation B, eg companies 1-15 as a new group (eg does not reference Consolidation A at all)

  • Suggested answer
    AbhinavMehra Profile Picture
    AbhinavMehra 364 on at
    RE: Consolidating a consolidation company

    Hi,

    Yes, you can create multiple consolidated sets of books in Dynamics 365 Business Central. Business Central allows you to create multiple consolidation scopes, which are sets of companies and accounts that you want to consolidate. You can use consolidation scopes to create different sets of consolidated financial statements based on your requirements.

    Thanks,

    Abhinav Mehra

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