web
You’re offline. This is a read only version of the page.
close
Skip to main content

Notifications

Announcements

No record found.

News and Announcements icon
Community site session details

Community site session details

Session Id :
Dynamics 365 Community / Forums / Microsoft Dynamics NAV (Archived) / NAV2015 Financial - Co...
Microsoft Dynamics NAV (Archived)
Answered

NAV2015 Financial - Consolidation

(0) ShareShare
ReportReport
Posted on by jasontl 275

Hi all,

I need some advice on financial consolidation in NAV2015. I read the MSDN and have some doubt.
MSDN says that elimination journal needs to be passed via General Journal manually but I saw a report under Consolidation Label > G/L Consolidation Eliminations.

I ran that report but it does not seem to make sense to me.

Can someone advise if elimination journals really need to be passed manually and how does the report work?

Thanks in advance.

*This post is locked for comments

I have the same question (0)
  • Community Member Profile Picture
    Community Member on at

    Hi

    Yes manual - always has been. But you can configure the GL code / dimension mapping to do most of the elimination for you or create a new company and call it Consol Elim. Then post movements to this new company and then consolidate.

    Hope this helps.

    Neil

  • jasontl Profile Picture
    jasontl 275 on at

    Thanks Neil for the guide.

    I understand that GL code has this consol debit and consol credit account to be setup under consolidation tab and I think this is probably what you are referring to.

    Do you know if there is any white paper established for this? Or any website/blog that guides on this. Because I am also using AX and there is elimination journal generated from batch job and I find some difference between the two.

  • Community Member Profile Picture
    Community Member on at

    Hi

    Yes that is what I am referring to re eliminations via mapping but you can also have elimination companies. There is definitely no batch job for it which is a real shame given that Nav can do everything else.

    No idea re white paper but have you tried this link?

    https://msdn.microsoft.com/en-us/library/hh169407%28v=nav.70%29.aspx

    Neil

  • jasontl Profile Picture
    jasontl 275 on at

    Hi Neil,

    Yes I have seen that standard guide on MDSN and have been trying to explore deeper.

    I still have a few doubts, wonder if you could guide me along.

    1. Does the general rule for the rates apply as follows in most cases?

      - Historical rate for all P&L GL accounts

      - Closing rate for all B&S GL accounts except Retained Earnings accounts

      - Composite rate for Retained Earnings accounts

      Is this the best practice?

    2. Any blog/forum that can illustrate how the consol. debit and credit account works for elimination purpose?

    Sorry tried my best to explore this function but still could not get it.

    Thanks in advance.

  • Verified answer
    Community Member Profile Picture
    Community Member on at

    Hi

    Basically I use Closing Rate for balance sheet accounts and Average rate (manual) for P&L accounts. Always seems to work though you have to complete the consolidation in chronological order by confirming for each month (a pain) for each business unit that has a different currency code to the consolidated business the Average, Closing and Last Closing exchange rates. Does not take it from the exchange rate table.

    Re mapping, very basic in Nav. Say you have 2 business units that have balances with each other on different GL codes. You can then map these against each other using Consol Dr/Cr (always the same for us) in each and consolidating to, for example, an intergroup GL code.

    Make sense?

    I sympathise re lack of information about how to do set up a Nav consolidation. It is very basic, hasn't changed since v2 but with a little bit of configuration it can work reasonable well but nothing like a product like Hyperion. Another control check we put into the consolidation company is a column layout that has a separate column for each business unit. Hence the recommendation to create an eliminations company in Nav for eliminations that are not pure set offs as described above.

    Apologies in advance for any accountant speak. I am one with quite a few years experience of consolidations before I opened my own Dynamics Nav consultancy.

    Neil

  • Verified answer
    stevdeb Profile Picture
    stevdeb 652 on at

    Hi,

    Eliminations need to be posted in the general ledger journal of the consolidation company. When posting these lines, it creates general ledger entries with a blank "Business Unit Code", which identifies them as elimination entries.

    The report that you mention had the ability to see the impact of prepared eliminations in the general ledger journal before posting them. But in a normal use, you post them.

    Regards,

    Steven

Under review

Thank you for your reply! To ensure a great experience for everyone, your content is awaiting approval by our Community Managers. Please check back later.

Helpful resources

Quick Links

Responsible AI policies

As AI tools become more common, we’re introducing a Responsible AI Use…

Neeraj Kumar – Community Spotlight

We are honored to recognize Neeraj Kumar as our Community Spotlight honoree for…

Congratulations to the November Top 10 Community Leaders!

These are the community rock stars!

Leaderboard > 🔒一 Microsoft Dynamics NAV (Archived)

#1
HoangNam Profile Picture

HoangNam 7

Last 30 days Overall leaderboard

Featured topics

Product updates

Dynamics 365 release plans