1. Administering Financial Consolidation and Close
  2. Consolidating Data
  3. Consolidation Process

Consolidation Process

Consolidation is the process of gathering data from descendant entities and aggregating the data to parent entities.

After you enter or load data into base-level entities, calculate and adjust data, you run a consolidation for a selected Scenario, Year, Period and Entity to aggregate the data throughout the organization.

You launch the Consolidation process from forms or from data grids. You must have first loaded or entered data in base entities. See Consolidating Data.

Launching consolidation runs the consolidation rules for the specified scenario, period, and entity. The translation process is run as required to convert data from the child entity currency to the parent entity currency. If the child and parent entity use the same currency, the translation process is not run.

After you select the parent entity into which the dependent entities consolidate, the required processes run automatically.

  • The system runs calculation rules for all descendants of the entity.

  • If the data for the child entity and the data for the parent entity are in different currencies, the system translates data based on the exchange rate.

  • You can enter adjustments to data through journals.

  • The consolidation process begins. You can make further adjustments to contribution data through journals.

Watch this video to learn more about the consolidation process:

Video iconOverview: Consolidations and Calculations in Financial Consolidation and Close

Troubleshooting

For troubleshooting assistance, see these topics: