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New on Dynamic. our situation is that we have acquired multiple companies which are all on different Generate Ledger system, parent company is using Dynamic Nav based customized ledger system, we are looking for ways to easily consolidate acquired company financial into Dynamic Nav based on Leger system, could you provide some guidance, document, links on ways to do this?
So you have multiple companies with different ERP General Ledger software. You have a parent company using NAV but want to bring these companies into NAV for consolidation. NAV Consolidation functionality reads NAV company files whether within the database or outside. Since your other companies are outside, I would consider creating a Rapid Start General Journal Import of the companies Trial Balance Net Change per month, and use Dimension = Company, to differentiate the companies. Remember 0.00 entries cannot be posted so remove these entries. You can load the opening entry, Balance Sheet, then net change month by month. Now you have each companies activity in the consolidation company.
Another idea would be to do all this outside in say Jet Reports.
Hope this helps.
Thanks so much for quick response. we are planning to send trial balance to Nav in the short term. In the long term, we want to use one ledger system (in this case, Nav), what are some of the ways or best practice to set up those companies in Nav, then handle consolidation in Nav.
There is discussion to evaluate third party tool, for example, oracle financial consolidation and close, but I want to explore if we can just handle this in Nav.
So you can setup each company within the NAV Database. Not sure if you will use all the functionality within NAV or just to populate the trail Balances each month for G/L purposes. If the latter, then you can create the Company and quickly setup the Chart of Accounts for each. Create the Accounting Periods for the years you require, including loading historical years. Make you you complete the General Ledger Setup and Company Information setup. Again, since I am assuming this is more a Trial Balance/GL company only for Consolidation, I will stay away from the other setups. Now let's talk about the specific setup for Consolidation. I could write for a very long time but you will need to update:
1. Chart of Account Consolidation fields
2. Business Unit setup
The above is on each Company and the Consolidation company. I am attaching a Consolidation Manual to help you with this. It is NAV and the functionality has not changed from the publication.
The entire process is not hard to setup and in fact I would setup 1 company and then export all the setup tables in Rapid Start and export the Rapid Start Package and then create each additional company importing the Rapid Start Package. Then you will have all your setups and update any individual setup page with any differences, like Company Information. I am also thinking that the Chart of Accounts would all be the same, but if not, then you could use Rapid Start and have each company fill out the template to import.
I hope all this helps and guides you.
Thanks again for the attachment, this will be helpful for me to understand the Nav, I will go through this then ask more questions if you don't mind.
So we have parent company A, acquired company B, acquired company C, company A is in Nav already. do I need to set up consolidation company D in Nav, as well as company B and C?
Company C also has bunch of joint venture companies, is there any functionality in Nav allowing to specify ownership percentage?
I would create Company B and C in NAV. I would also create Consolidation Company D. On the Business Unit setup you can specify percentage of ownership, which will help in consolidation entry from Company C to Consolidation Company.
Each company will stand alone and then consolidate.
Follow up on company ownership, Company B (parent company) own 100% of company C (subsidiary, acquired company), but it is company C has multiple joint venture companies, how do we handle this in Nav, should we set up consolidated company C_Csol and specify ownership percentage there.
then in Company D (Consolidation company), should we set up company B and company C_Sol, instead of company B and Company C?
Consolidation Company =
Company B - Parent Company 100%
Company CConsol - 100%
Since the Consolidated Company owns 100% of Company C but Company C is not 100% totally owned given the multiple joint ventures, I would create the Consolidated Company C and its Business Unit % ownership for Consolidation. However, this step might not be needed. In Company C how will the percent ownership be defined? For example, Consolidated C owns 25% of Company C?
Company C has one 100% own company (C1), then 5 join venture companies with ownership range, between 51% to 49%
Since percentage ownership varies it is both practical and best practice to create each of those companies seperated and give them a Business Unit with the correct percentage to Consolidate into CompanyC Consolidated.
Thank you so much for your guidance on this! so at high level, the best practice is the followings, right?
ConsolD = Comp A + Comp B + ConsolC
ConsolC = Comp C +JV1 + JV2 + JV3 + JV4... (specified ownership % at ConsolC, mapping BU with sub company.
Obviously the next step is to map chart of account from ledger system of acquired company to Nav, I am wondering if you can tell us the table we need to use from Nav database/backend so we can export all level of Nav chart of account data (P&L, Balance sheet), so we can start the mapping exercise
Wondering if you can advice on this too
Table 15 holds the Chart of Accounts.
Thanks again, Steve!
what about table to store Journal entries to make up for P&L and Balance Sheet
wondering if there is cheat sheet for the table name and its respective data stored.
General Ledger Entries are in Table 17.
The actual balance is a flow field calculated on a page or report. Your Date Filters drive the values for the Posting Date. Think of filtering on a Posting Date for a period or year-to-date and it will calculate the period ending balance.
Not if you are trying to pull data from a table. If you asked me to look at the Chart of Accounts and filter to a specific Period Ending Date I can export to Excel the Page. If you asked me to run an Analysis by Dimensions or Accounts Schedule with Budget vs. Actual I can add my Date Filter and Export to Excel. Overall I can run many pages or reports that include my Balance Sheet or P&L period amounts and export to Excel easily.
You could also create a Jet Report to pull the data easily into a B/S or P&L for what you want. If you do not have Jet, ODATA can help too.
I have not heard of NAV Cube but it could have been from an ISV. You can use Jet Reports in NAV to perform consolidation as well. If you like Cubes, Jet Analytics has a cube.
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