Reversing company consolidation
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This page allows you to reverse a consolidation that has been completed. A reversal entry is posted in the consolidation finance book to nullify the entry posted after consolidation. You can select the company for which you want to reverse the consolidation. You can also select the financial year or period for which the consolidation has to be reversed. The system saves the reversal run details and updates the status of the reversal run as “Scheduled to Start”. The system also stores the login ID of the user and the system date along with the newly created reversal run details.
Select the “Reverse Company Consolidation” link under the “Company Consolidation”
The “Reverse Company Consolidation” page appears.
Enter the following fields:
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Reversal Run No |
A unique number identifying the reversal consolidation run (Alphanumeric, 18). Mandatory. |
Note: This field can be left blank if “Automatic Generation of Consolidation Reversal Run Number” is set to “Yes” at the company level.
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Remarks |
Any observations pertaining to the reversal of the consolidation (Alphanumeric, 255). |
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Zoom facility available | |
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Consolidated Company |
Use the drop-down list box to select the company for which you want to reverse the consolidation. All the child companies that have been mapped to the login company will be available for selection in the ascending order. |
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Option |
Use the drop-down list box to select the period for which the consolidation has been completed. You can select from “Year” or “Period”. The system displays “Period” by default on launch of the page. |
Click the “Get” pushbutton to retrieve the consolidation information.
The system displays the following in the “Consolidation Information” group box:
Note: The system retrieves the consolidation details of the last financial year or period for which the consolidation has been completed based on whether “Year” or “Period” has been selected in the “Option” field.
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Consolidation Run No. |
The number identifying the consolidation run. |
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Financial Year |
The financial year for which the consolidation has been last completed. |
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Financial Period |
The financial period for which the consolidation has been last completed. |
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Consolidated By |
The login ID of the user who created the consolidation run. |
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Consolidated Date |
The date on which the consolidation run was created. |
Click the “Reverse” pushbutton to reverse the consolidation that has been made.
The system saves the reversal details and updates the status of the reversal run as “Scheduled to Start”. The system also updates the login ID of the user and the system date in the “Created By” and the “Created Date” fields.
The system displays the following:
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Created By |
The login ID of the user who created the reversal consolidation run. |
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Created Date |
The date on which the reversal consolidation run was created. |
You can reverse a consolidation for a defined financial year or financial period. You can select whether you want to reverse a consolidation for a “Year” or a “Period”.
Set the “Option” field to “Year” if you want to reverse the consolidation for a financial year.
Set the “Consolidation
Option” field to “Period” if you want to reverse the consolidation of
a financial period.