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
    Title:
    Idea Labs for FCCS
    Summary:
    Idea Labs for FCCS is now enabled - submit your requests
    Content:

    The Idea Lab allows you to contribute to our product roadmap that is derived from a variety of influences, such as market changes, compliance and regulatory forces, industry trends, and one of our best sources, our customers. Share, vote, and comment on your favorite ideas, whether big or small, simple or revolutionary.

    Comment

     

    • 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.

      Thanks