Describing Consolidation Tasks

Objectives

After completing this lesson, you will be able to:

  • Explain the corporate-closing process
  • Describe the data and consolidation monitors 

Consolidation Tasks

The Month-End Closing Process

Data Monitor

You use the data monitor to run the activities for collecting and preparing the financial data reported by consolidation unit. These activities are called tasks.

The tasks of the data monitor are predefined and ready to use. The system manages the status of the tasks, and thus, ensures a logical sequence and consistent data.

After you run a task, you can block the task if no errors are displayed and the preceding tasks are also blocked. This allows you to track your progress and monitor the status of tasks in the consolidation process.

Note

A task must be unblocked before it can be rerun after being blocked. This also automatically unblocks all downstream tasks.

Consolidation Monitor

Note

It’s recommended to block all data monitor tasks before you run and block a task in the update run in the consolidation monitor.

You must run all tasks for each consolidation group or run one task for all consolidation groups.

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