Possibilities of consolidation?

Each entity will have its own financial calendar.   IFS will consolidate based on the defined periods.

Hi Christy @cperdue.

Thanks for the feedback. What the intention of the question also arises is the UX of the consolidation. Is it easy to setup and what possibiliites of reporting is offered by IFS Cloud? 

Is there any material available?

T&R

Daniel.

The Consolidation process is very easy to setup.   There are canned Consolidation queries & analysis.   Further analysis can be done via Power BI or BR.  There is content on the IFS Sharepoint.    Feel free to direct message me if you do not have access.

Hi Christy,

Hope you’re well. I thought to post my question here rather than as a new query as its related to the original post.

I’m looking for guidance on a consolidation scenario where two companies have different fiscal calendars, and the IFS master (consolidation) company follows the US calendar.

Fiscal Calendars

• US Company: October → September
• India Company: April → March

Example (period alignment):

• India March 2025 = Period 12 of FY 2024 (India ledger)
• US March 2025 = Period 6 of FY 2025 (US/master calendar)

I’ve configured period mapping in the master company so India’s months map correctly to the US fiscal periods.

When I run year-end in the India company (March 2025 / India Period 12):

• I expect consolidated results to appear in US Period 7 of FY 2025 (April 2025), per the mapping.
• Instead, I’m seeing retained earnings posted in the master company and income statement entries reversed (YE close behavior), which distorts the consolidated view for the mapped period.

Question:
Is there a way in IFS to prevent the YE retained earnings transfer and income statement reversals from flowing into the consolidated (master) company, while still keeping the statutory YE close in the India company?

Additional context

• We want statutory YE processing to occur in India (local requirements), but group reporting should continue on the US fiscal calendar without YE close effects showing up in the consolidated ledger during April–September.
• Ideally, the consolidation for US Period 7 (April 2025) should include India’s April actuals without the YE reversal noise.

What I’m considering / looking to confirm

1. Consolidation setup options
   • Is there a configuration or flag in IFS to exclude YE close journals (retained earnings & IS reversals) from the consolidation extraction?
   • Alternatively, can we route YE journals to a separate consolidation type / ledger / code string so they’re excluded by the consolidation rules?
2. Process-wise workarounds
   • Post-close reclass in the master company to neutralize YE effects (less ideal).
3. Best practice in IFS for mismatched fiscal years
   • How do others handle YE entries from subsidiaries whose YE doesn’t align with the group calendar?

Thank you in advance for any pointers!

Have you considered utilizing a period 13 for your YE close entries? We don’t have your particular challenge, but do utilize period 0 and 13 for year end and beg balances which might give you flexibility when mapping periods.