Hi, The reason why your year end voucher(2021-12) of depreciation of goodwill is not reflected in the period of 2022-09, because you have entered it as an adjustment journal entry. Adjustment journal entries are only valid to the period of which you are running the consolidation and those will not be included in the future periods. Therefore, if you want to bring the year end depreciation of goodwill entry you have to either copy the same adjustment journal you entered for 2012-12 for next year periods or you can use acquisition register to update that entry as at 2012-12 as an alternative option, which then will be included in all the future consolidations. Hope this will help you to clear this matter... ! Best Regards,Thushan Wijayawickrama GCD
Hi, I have come across this matter in most of the consolidation implementations and I seems that we have to enter an adjustment journal entry at the consolidation level to eliminate the ‘unrealized profit’. The reason why it is quite complicated to develop a automatic solution, is because the ‘unrealized profit elimination’ logic and the journal entry differs based on the entity relationship and ownership (e.g. parent-subsidiary) and also based on which entity ( parent/ subsidiary) will made the sale. Hope this may help you…! Best Regards,Thushan Wijayawickrama GCD
Hi,Could you check the ‘consolidation structure’ and confirm whether the consolidation method is ‘equity majority’. because if you have the consolidation method as equity minority, current period profit would be in the investment account and not under the equity (eg: parent-associate relationship) . This doubt came to my mind by looking at the consolidated balances you have shared, noticing the same profit amount of 5K is available under the 17000 account. Therefore, if the consolidation method is ‘equity minority’ , you ideally shouldn’t be able to the share profit in equity section. I hope this info will be helpful to make a progress..! Best Regards,Thushan Wijayawickrama GCD
Hi, You are correct that without finalizing the accounts you cannot do the group consolidation, unless you do a manual adjustment. However, you can always run the ‘Clear cost/revenue’ balances option any number of time and to make sure all the profit or loss account balances are transferred to retained earnings. Once you complete that process, you will see that sum of your trail balance will be zero and you will be able to reconsolidate the final period.Best Regards,Thushan Wijayawickrama
Hi, Since the income statement period rates are not used, could you check the currency rate type that is attached to the ‘balance version’ as the ‘Income statement rate type’ . That is what normally will be taken as the currency rate type to calculate the income statement balances. Refer the attached screenshot for your easy reference. Hope this will help to clear out your issues…! Best Regards,Thushan Wijayawickrama
Hi, For the subsidiaries where you have less than 100% ownership, below are the configurations you normally need to check. Window: Consolidation structure Items to check:Ownership percentage ( e.g. 90%, 50% ) Consolidation method - Equity majority. If still if you find the NCI calculation is not correct, you can validate it by multiplying the ‘NCI %’ (eg. if the ownership is 90% then the NCI % would be 10%) by the profit for the period (normally the value of GCP1 posting type , which will be captured when transferring the balances from the individual entities to consolidating company) .Hope this may help…! Thanks,Thushan Wijayawickrama
Hi, Could you try enabling the ‘keep balances separated by reporting entity’ check box in account window and enabling the ‘currency’ code part from the ‘additional code parts’ in the master company for group consolidation. ‘Currency’: additional code part will help you to identify the transaction currency as a total although it doesn’t give the transaction wise breakup at the consolidation, which is also can be used to check in ‘consolidation balance details’ window. ‘keep balances separated by reporting entity’ check box in account window, helps to separate the balances based on entity. Attached screenshots for your easy reference. Hope this may help you to analysis required output. Best Regards,Thushan Wijayawickrama
Hi, As per the details given, I believe that you have set up the ‘historical rates’ window properly. Assuming that, main reason why the posting controls are not to be triggered is not ticking the ‘apply consolidation historical rates’ check box in ‘consolidation status’ window. Please refer the attached screenshot for your easy reference. Above correction should ideally solve your problem. However, if you notice that check box is already ticked, that brings to the conclusion that you have missed something in the historical rates window. e.g. - check whether you have selected all the required code part values, as per the entity. e.g. check whether you have selected the correct node etc.. Hope this will help you to clear out your problem. Thanks,Thushan Wijayawickrama
Hi,As per my previous experience those 2 are the best options you can come up with. however, if there are foreign entities in your consolidation structure, I would think better to go with option 2 where you will be running the consolidation from the first period in the current financial year. Reason: most of the companies would prefer to have a monthly average rate to translate their income statement balances instead of having a yearly average rate. Therefore, if you start the consolidation from the golive date ( assuming it is not the beginning of the financial year) , you will not see the exact translated values, since monthly average rates cannot be used without having historical balances. If above concern is not a problem to the customer, I don’t see any other major concern on going with the Option 1 for your matter. Hope this was useful.. Thanks,Thushan Wijayawickrama GCD
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
Hi, As I have also experienced, you cannot change the base currency in the middle of the consolidations. However there will be two alternative options I would like to bring your attention and I believe if you have been running the IFS group consolidation for some time, most suitable option would be option 2. try rolling back the previous consolidations and remove the transferred balances and change the ‘reporting currency base’ Creating another master company for group consolidation and setting up the correct structure and basic data ( this would be a time consuming activity, but you don’t need to rollback the previous consolidations and you will have all your historical consolidations in old master company. It will be just that you are moving the consolidation from one set of configuration to another master company) Hope this would give you some insights to solve your problem… Thanks,Thushan Wijayawickrama
Hi, Could you check whether you followed below steps. Copy the PO number and search that in ‘receipt’ window to make sure you only have that receipt of 15 items. Go to manual supplier invoice window and add new. Past the PO number in ‘PO’ ref field. Add the invoice number go to the line information section and RMB and select ‘copy unmatched PO receipts’ option. Ideally if you have received only 15 items, you should only be getting the records correspond to 15 items. Match the PO receipts and Post the invoice. Thanks,Thushan Wijayawickrama
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