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Consolidation Summary by Date

Posted on by 1,159

Hi All,

Wehn we run consoldiation process (run consolidation) it summarizes figures for each GL account (and dimension) by last date of the consolidation run date parameters. Problem with this is:

1. We have to agree beforehand whether users run consolidated reports for daily/weekly or monthly periods as we cannot have daily figures if we consolidate every month for teh previous month

2. If you miss entries then we have to redo the consolidation one period at a time rather than defining a from and to period ranging say 12 months

Now does this mean typically consolidation run for a month, every month? And is there anyway we can automate (schedule) consolidation run for a day but this needs be for previous month.  I'm trying to establish the best process considering flixibility in reporting vs data and admin load

Thanks

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Consolidation Summary by Date

    Anita,

    I will add to Tom's reply above. In my tenure with NAV/BC all my clients utilizing Consolidations, perform the process monthly. I have not heard of a anyone doing a daily or weekly consolidation process and would want to understand the reasoning behind it before I comment further. Most importantly, the User performing the Consolidation process confirms each business unit has closed the month (Posting To/From dates pushed to open month) and executes the Consolidation periodic activity to pull each business unit into the Consolidation company and the noted Foreign Currency steps Tom mentioned.

    What is the reasoning behind having a Daily/Weekly Consolidation figure?  Are you reconciling intercompany only in the Consolidation company and if any issue booking the difference the next day in the business unit?

    Not sure this helps resolve your issue but maybe you can explain more why the requirement.

    Thanks,

    Steve

  • Suggested answer
    TWBlaisdell Profile Picture
    TWBlaisdell on at
    RE: Consolidation Summary by Date

    Hello Anita,

    Thank you for posting on the Microsoft Dynamics 365 Business Central Forum.

    Typically, I would anticipate the Consolidation is run monthly. That is the way I hve typically seen it processed in my 20 plus years on NAV/BC Support. However, we can see if other partners reviewing the Forums have any input that is different from my experience.  I deal with support of partners in North America, so I am not sure if companies have done daily or weekly consolidation. The challenge with weekly is that weekly periods are more of a challenge with dealing iwth reporting in Account Schedules with the expected montly reporting period being aligned. 

    I don't know of a reasonable way of automating this. Especially if there are Foreign Currency Business Units.  Prior to consolidation, you must confirm Closing Rate, Last Closing Rate, and Average Rate on the Business Unit Code Page.   That requires user intervention that cannot be automated directly.

    Thanks


    Best Regards,

    Tom

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