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We need some help with the consolidation process in IFS 10. We have succeeded with some of the steps but there are some issues left, e.g. currency translation and elimination of inter-company transactions. Below I list the steps that we have done.

 

  1. Map subsidiary accounts (Accounting rules -> Code string -> Accounts field Account group)
  2. Specify which months to consolidate in the parent company (Financials - Consolidation -> Group Consolidation -> Balance Transfer and adjustment -> Reporting status)
  3. Give permission to employees to perform the consolidation. (Financials - Consolidation -> Group Consolidation -> Consolidation Basic Data -> Consolidation Security)
  4. Transfer data (Financials - Consolidation -> Group Consolidation -> Balance Transfer and adjustment -> Balance Transfer Assistant)
  5. Approve reporting journal (Financials - Consolidation -> Group Consolidation -> Balance Transfer and adjustment -> Reporting status)
  6. Create consolidation structure (Financials - Consolidation -> Group Consolidation -> Consolidation -> Consolidation Structure)

 

After the above-mentioned steps, we can see the consolidated data in Consolidation Period Balance Analysis. However, as mentioned, the data is not correct since the currency is not translated and no elimination of inter-company transactions has been done.

 

What do we need to do to succeed?

Hi,

The currency translations and inter company eliminations are handled when balances are consolidated, provided you have set the basic data correctly.

You can execute consolidation in “Consolidation Status” window for the consolidation structure you created in step -5.

You may analyze the consolidated balances in “ Consolidation Balance Analysis” and “Consolidation Details Analysis”. If basic data was set up correctly, you would be able to find the transaction types Translated Balance and Intercompany Elimination that reflects the currency translations and inter company eliminations respectively.

Hope this might help you..!

Best Regards,

Chirantha.

Thanks!

We try to see how we have setup the basic data. Maybe there is something missing. Is there some BDR requirements documentation other than online documentation?

 

/Mattias

 

We found that we are missing some basic data so after fixing this we will be able to consolidate.

 

Thanks!

Hi MattiasLindahl, We are currently having the very same problem. I know that this topic is a bit old, but I would really appreciate if you could walk me though the basic data configuration for Intercompany Elimination transactions  to Reflect in the Consolidation Details Analysis window.

Thanks!

Pablo

let me know if you need any more assistance with Group Consolidation :)

 

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