How to include balance sheet opening balances with consolidate on-line & identify the source company for these balances

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I have set-up and I am testing a consolidation company entity to consolidate 9 companies. When the using the consolidate on-line no opening balances are created for the balance sheet accounts from the subsidiary entities. So I have assumed that in order to create the opening balances in the consolidation company I have to run a year end close for the consolidation entity. I have tested this and as I expected this created the correct opening balances.

However when I view or report (using Financial reports) I have nothing to tell me which company the opening balances originated from, unlike the movements that are group by company accounts and in financial reports you can filter on the consolidated company attribute.

So my questions are 1. Is running a year end close in the consolidation entity the correct way to get the opening balances in the consolidation entity? 2. If the answer to 1 is yes then what is the best way to determine the source entity?

I can see that using consolidate on-line I have the option to add an additional dimension of source company with the specification of company accounts to tag each consolidation transaction with the source company. Is this the best way or are there other options?

Thanks in advance

Best regards

Simon

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real_ashwin 1,225 on at

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Hi Simon,

Were you able to figure this out? If so please detail your findings to help others if possible.

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JamesTerrington 47 on at

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Hi Simon,

OPENING BALANCES

You will just need to do an initial consolidation process and ensure that you include the period that you data migrated opening balances into your subsidiary legal entities.

FINANCIAL REPORTS/LEGAL ENTITIES

1) Create a Legal entity financial dimension

2) Create Account structure that includes this for the consolidation legal entitiy

3) When doing the consolidation process, map the Legal entity financial dimension = COMPANY ACCOUNTS

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Community Member on at

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Hi Ashwin

Yes I did figure this out. The answer is you do need to run a year end close in the consolidation entity to create the opening balances. See the answer from James Terrington in this thread.

Best regards

Simon

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Community Member on at

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Thanks James I did figure this out by trial and error and got it working.

Best regards

Simon

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AE-23070112-0 11 on at

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Dear All,

even after following below steps, I am unable to see opening balances:

**********************************

OPENING BALANCES

You will just need to do an initial consolidation process and ensure that you include the period that you data migrated opening balances into your subsidiary legal entities.

FINANCIAL REPORTS/LEGAL ENTITIES

1) Create a Legal entity financial dimension

2) Create Account structure that includes this for the consolidation legal entitiy

3) When doing the consolidation process, map the Legal entity financial dimension = COMPANY ACCOUNTS

**********************************

Any pointers or troubleshooting steps that you can suggest further.

Thanks in advance.

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