Financial Consolidation and Close

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  • Kimborey Lam

    Hey Wayne,

    As a rule of thumb, try to write formulas with Calc Manager rather than member formulas.

    Use FIX/ENDFIX statement to run your rule only on specific blocks.

    I'll share with you some doc that might be able to answer your questions.

    Cheers,

    Kim

  • Pavan Indurthi

    Can you please provide the screenshots of before and after changes happened to alias property?

     

  • Ganesh Rangamani

    Hi thanks, yes we will perhaps use journals until this feature is up and tested.

  • Kimborey Lam

    Hi Ganesh,

    What you can do at the moment is transfer the investment in subs from all the subs (A and B) to the holding entity either through Calc Manager, journals or through Data Management mapping if you are using it.

    Not sure how many entities you would have to do that for but I think doing that through journals would be the best option.

    Hope it helps,

    Kim

  • Ganesh Rangamani

    Hi Keith, thanks for the response.

     

  • Keith Glide

    Currently only the Holding method will eliminate investments. This is based on the assumption that the entity structure is a multi-level organization with a consolidation parent entity for each owning company (which you note as an undesirable option). Currently there is no way to amend the "hard-coded" rules.

    However, we will consider modifying the seeded rules to eliminate investment for Subsidiary entities when the Configurable Consolidations functionality is released. In addition, the Configurable Consolidations functionality will allow the user to copy and modify any seeded rules or add new rules as required.

  • Wayne F

    Hi Kim,

    The other recommendation was to turn the Balance calculation off, from 18.02 the default for new applications will be generated with the balance calculation off and administrators will be required to turn the Balance calculation on.

    Thanks

    Wayne

     

     

  • Kimborey Lam

    Hi Serge, thanks for your reply. It's clearer now. I haven't tested it yet but will surely share the output with you once done.

    Thanks again!

  • Kimborey Lam

    Hey Rich,

    Will we also have pre-defined calculation of NCI for subs and share of income in P&L and inv for associates?

    Thanks,

    Kim

  • Kimborey Lam

    Hey Wayne,

    Yes it does help indeed. Thanks a lot for your reply.

    Do you have any idea what's recommended to be used for account and custom dimensions?

    Thanks,

    Kim

  • Wayne F

    Hi Kim,

    In a recent training session with Oracle, they strongly urged us not to use member formulas in the Movements dimension because it had a very detrimental impact on the consolidation times.

    Hope this help 

  • Nancy Ackerman

    I get that error all the time - I've found that sometimes refreshing the database helps get around it.  Or if there has been a change in a prior year and that year hasn't been re-consolidated I tend to get it so I go back and consolidate prior periods.  We are still in development so that is a valid option - but once the system is live, hoping that won't be required as it would be a pain.

  • Nancy Ackerman

    We have issues with this account for our foreign currency entities.  It is calculating an amount each period which makes it so Current Year Retained Earnings does not tie to P&L Net Income.  Local Currency balances (including USD entities) are Ok on a YTD basis (in Retained Earnings) but if you look at periodic view, the Retained Earnings balances are the same Periodic & YTD.  Not sure how to correct this.  Accounting 101 says Net Income = Current Year Retained Earnings on the Balance sheet....  Will share if I get an answer - please update if you get any answers

  • Nancy Ackerman

    We have found that P&L accounts are calculating correctly in USD_Reporting but balance sheet accounts are not correct - did not spend a lot of time on it as we had enough other issues to resolve and all our foreign entities reported to a USD entity so Parent Currency is effectively the same as USD_Reporting in our case.  Figured we'd get everything else working first then worry about this.  And we too were looking at the balance sheet accounts on a YTD basis as that is how they are reported - In my 30+ years in accounting and now IT I have never created a periodic balance sheet.

  • Serge Kpossou

    The database refresh would trigger a dense restructure only if a dense member was changed. So let's say that the restructure option is a more explicit and straight forward way to reach the same result.

    Were you able to measure performance gains in the consolidation using the restructure option ?