Do you have any experience with using consolidation - component GROCON ? We are using app 9 and in January we are about to consider doing consolidation. There are four companies in different countries, different chart of accounts, different accounting currencies and no third currency defined in some companies.
Consolidation component
A
Userlevel 5
+7
Hi Mamipl
What do you need to do about consolidation in IFS Applications ?
Usually, this module has been built to handle the “pre-statutory consolidation”.
You can create all entities included in your consolidation, define structure (by country, legal, business, … ) as you need to use in consolidation, you can define % of participation of each internal company (minority, majority, proportionnal), … transfer balance, with analytical axes mapping , intercompany identified, etc …
i have an internal document from france (in French) … for your information
kind regards
A
Thank you for your response.
My boss is telling me to create reports in order to obtain consolidate balance sheet and income statement. It can be done in Excel obtaining proper data via SQL statements or via report generator reports. I was wondering whether Group Consolidation component could be of any use. Of course I need first to read documentation for that component. I was asking this question in order to find out any practical experience from using it.
Regards,
Marek
Userlevel 5
+7
Hi
about reports you have to create for consolidation, you really must use IFS BUSINESS REPORTER with the standard information sources of the group consolidation module.
you don’t need to use SQL STATEMENT, it’s simple and user friendly !!
do you Know this IFS solution Software for the reporting (most of the time used by Financials’ users !!!
kind tegards
A
You probably mean Business Analytics. I am still new in this company, so I don’t know which components they have implemented here. I will ask accounting department whether they use it. Probably not. In such case we need to purchase it from IFS, right ?
I have no problem with using SQL as I worked for 21 years in IFS, half of this time as software engineer, mostly in R&D.
Regards,
Marek
Userlevel 5
+7
Hi
yes it is IFS BUSINESS ANALYTICS renamed IFS BUSINESS REPORTER.
and if you don’t use it, perhaps, it’s because you didn’t buy it before.
and even you Know SQL STATEMENT, i really think IFS BUSINESS ANALYTICS is the best way to create, publish, and plan reports for your teams
kind regards
+4
Hi,
As per the details given, you can run the consolidation in IFS where you have foreign entities, multiple accounting currencies and also having different financial accounts calendars.
If you want to know further details about the process, I would be very happy to clear your doubts.
Best Regards,
Thushan Wijayawickrama
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