Financial Consolidation and Close

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    Rich Wilkie
    Idea Labs for FCCS
    Topic posted October 31, 2017 by Rich WilkieGold Medal: 3,500+ Points, tagged Balance Sheet, Cash Flow, Consolidation, Dashboards, Data Integration, Dimensions, Eliminations, Income Statement, Intercompany, Locking, Supplemental Data, Task Manager, Tip, Translations 
    195 Views, 3 Comments
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    • Kimborey Lam

      Is it possible to have a calculation (that could be activated/de-activated by the admin) where a Movement (FCCS_TBA "to be allocated") would be calculated, on specific data sources and Entity Input, the variance between Closing Balance_Input and Opening Balance. This movement would be part of the main Closing Balance hierarchy and therefore Closing Balane_Input and CLosing Balance would always reconcile.

      By doing this, entities would have the flexibility to not enter movements on a monthly basis and load directly their closing balance

      This is more or less what we used to have in HFM and a lot of our fccs customers have been asking for it.

    • Geordan Drummond

      FYI, this is possible using custom calculations.  There is an example of it here.  We have also done a similar calculation using UDAs.

    • Kimborey Lam

      I had a similar calc and it killed the performance of my app. I'll try with the one Keith shared and see how it works for me.