3 Creating a Financial Consolidation and Close Application

An application is a set of related dimensions and dimension members that are used to meet a set of consolidation and close process needs. Each application has its own accounts, entities, scenarios, and other data elements.

When you begin working with Financial Consolidation and Close, you create an application to manage the data, dimensions, and forms. Only one application per environment can be created.

Only the authorized Service Administrator can create an application. The Service Administrator can also perform the following tasks:

• Perform ongoing maintenance, such as creating, editing, or removing dimensions and members
• Import and export data

When you create the application, you can import metadata from your ERP or financial system, or load preformatted metadata flat files from an existing metadata repository to populate the dimensions in your application.

After you create the application, select Application from the Home page to view and manage the application.