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GL : Consolidation

Consolidation
Consolidation is the process of transferring the data from ‘one ledger’ (subsidiary) to another
ledger (primary).v x

1. Define new responsibility and to new user


2. Open periods in primary ledger
3. set profile options for ledger name and responsibility
4. Run ‘Translation’ program.
1. Set up > currency > translation
2. Ledger :
3. Balance type : USD
4. Reporting currency : USD
5. PERIOD : JUN-13
5. Create new mapping for “source1” to “Target1” with new “mapping1”
1. Consolidation > define > consolidation > MAPPING
2. Mapping1 : zee_to_TG1
3. Target1 TGCOA
4. Source : zee COA
5. Save
6. Consolidation
i. Consolidation : cons1
ii. Parent : mahi (usd)
iii. Subsidiary : mahi pl
iv. Method : balances
v. Currency : USD
vi. Mapping : mmgrouptoTG ( mapping2)
vii. Usage : standard
viii. Save
6. Create new mapping for “source2” to “Target2” with new “mapping2”
1. Consolidation > define > consolidation
2. Mapping2: zee_to_TG1
3. Target2 TGCOA
4. Source : zee COA
5. save
7. Define consolidation1 for mapping1
8. Define consolidation2 for mapping2
9. Define ‘consolidation data set’ to join both consolidation1 and consolidation2
1. Consolidation > define > consolidation set
i. Consolidation set : cons set1
ii. Check run journal

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iii. Check ‘create subsidiary journal


iv. Consolidation : cons1 , cons2
v. Subsidiary : mahipl, zeepl
10. Run “consolidation data transfer program”
1. Consolidation > transfer > data set > transfer

GL Consolidation

GL Consolidation

Consolidation:
Consolidation is functionality in the General Ledger module that allows you to
combine/consolidate Accounting/Financial results of multiple companies from multiple set of
books (SOB), Currencies, Calendars & Accounting flexfield structures.
In other words, Consolidation is a period-end process of combining the financial results of
separate subsidiaries with the parent organization to form a single, combined statement of
financial results.

Consolidated data is required at the end of year usually when companies prepare their balance
sheets.
Overview of Consolidation:
 Consolidation of companies within a Set of Books
 Consolidation of companies across multiple Sets of Books in the same instance
 Consolidation of companies across multiple Sets of Books across multiple instances.
 Accounting for some companies is maintained in non-Oracle applications
 Same or Different Charts of Accounts
 Balances or Transactions
 Same or Different Calendar
 Same or Different Currency
 Balance Type
 Actual/Translated
 Budget
 Statistical
Consolidation Steps:
 Create Consolidation mapping: parent and subsidiary sets of books
 Post all Journals in subsidiary set of books
 Revalue foreign currency balances in subsidiary sets of books
 Translate subsidiary balances to the functional currency of parent set of books
 Run and review trial balance report

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 Transfer data from subsidiary to parent


 Run Journal import
 Post the consolidation journal in parent set of books
 Eliminate inter company balances
 Run trial balance and other financial reports
Consolidation Tools:
To consolidate financial information of the businesses two consolidation tools are there i.e.

 FSG (Financial Statement Generator)


FSG is used to consolidate financial information for businesses using single ledger as well as
businesses using different ledgers that share the same Chart of Accounts & Calendar.

 GCS (Global Consolidation System)


As name itself says, GCS is used to consolidate financial information for different Financial
Systems & Geographical locations, multiple ledgers including both owned application & legacy
application.
Example:

Below mentioned diagram is the example of Consolidation for Multiple countries i.e. U.S,
Norway & India where Set of Books for multiple countries are consolidated.

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