Financial Consolidation and Close

Get Involved. Join the Conversation.

Topic

    Pamela Stone
    Basic Balance Sheet hierarchy and alternate
    Topic posted October 16, 2019 by Pamela Stone, tagged Balance Sheet, Dimensions, Income Statement 
    57 Views, 2 Comments
    Title:
    Basic Balance Sheet hierarchy and alternate
    Summary:
    Placement of alternate income statement accounts using Basic Balance Sheet hierarchy
    Content:

    Hello,

    Using the new Basic Balance sheet hierarchy, works for client because they have more flexible on how to build out their hierarchy.  No issues with ownership management, overrides or data movement within the movement dimension.  Only unknown with the basic balance sheet hierarchy is where to place the alternate income statement hierarchy.  Unlike the traditional balance sheet approach,  FCCS_Income Statement is not present when the Basic Balance sheet hierarchy is selected so unsure of where the alternate income statement accounts should be placed.    I am leaning towards placing the alternate income statement hierarchy directly under the top parent of the account dimension,  Account.    Has anyone else had a similar situation at their client?  If yes,  where did you place the alternate income statement accounts.

    Thanks

    Pamela

    Version:
    19.09.72
    Image:

    Comment

     

    • Margaret Reed

      Pamela, you will need to post the alternate hierarchy for Income Statement accounts after the FCCS_Balance Sheet grouping.  Currently, you need to have the primary accounts for balance sheet and the descendants of FCCS_Net Income within the FCCS_Balance Sheet grouping. You can create a new group called Income Statement and place the alternate hierarchy after the FCCS_Balance Sheet group.

      • Erin Cerpa

        Hi Margaret

        So I also need to create alternate structures in account but am using the traditional set up.  If I need the alternate account structure to consolidate/translate/eliminate under new parents where should I put them?  If you put them as siblings to FCCS_Balance Sheet is any rule functionality lost?  Or should all alternates go under FCCS_Balance Sheet?  

        Also I have an issue collecting ending balance currency data that needs to be translated (i.e. Account receivable aging info).  Any suggestion?  I cannot find any documentation for these issues.  

        Thanks

        Erin