Managing Consolidation Groups

Objective

After completing this lesson, you will be able to Maintain consolidation groups.

Managing Consolidation Groups

Robert sitting on a conference room table

Now that you have set up the preparation ledger and versions, you need to maintain the master data.

Manage Consolidation Groups

Creating 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.

View the Consolidation Group Master Data
View the validation method assignment

Note

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

Create a Consolidation Group

Business Scenario

You need to create a new consolidation group for the ABC Corporation project.

What skills will you develop in this practice exercise?

Create consolidation groups.

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