Managing Consolidation Groups

Objective

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

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

Manage 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.

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

Create consolidation groups.