Managing Consolidation Groups

ABC Corporation needs three consolidation groups, as consolidated financial statements are mandatory for the World, America, and Europe regions.

To create a consolidation group, input the following data:

• Consolidation group ID
• Short and medium text
• Consolidation frequency: Monthly
• Correspondence: this isn't used by group reporting.
• Methods: Assign validation method. This assignment is used when Consolidated Data Validation is run.

In the following images, you can see an example.

Note

Validation methods can be assigned to multiple consolidation groups by using the Assign Validation Methods app.