Consolidating finance book

This page allows you to create a process for consolidating the “Posting” finance books in the “Main” finance book of the company. Tell me more. Tell me more.

Select the “Consolidate Finance Book” link under the “Finance Book Consolidation” business component.

The “Consolidate Finance Book” page appears.

Enter the following fields:

Consolidation Run #

A unique number identifying the consolidation run (Alphanumeric, 20). Mandatory.

Note: This field can be left blank if “Automatic Generation of Consolidation Run” is set to “Yes” in the “Company Process Parameter” business component.

Book Type

Use the drop-down list box to select the type of the finance book for which you want to create the consolidation run number. You can select from “Finance Book” or “Tax Book”. The system displays “Finance Book” by default on launch of the page.

Note: “Tax Book” will be available for selection if “Tax Book Applicability” has been set to “Yes” at the company level. “Finance Book” must be selected if a simulation run number is entered in the respective field.

Simulation Run #	The number identifying the simulation run (Alphanumeric, 20). The run number must be valid for the login organization unit.
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Note: You cannot use the simulation run, which includes finance books for which the consolidation status is in “In progress”, “Scheduled to Start”, “Consolidated” or “Aborted”. The run number must not include an external enterprise during the simulation. You can use a simulation run that has a finance book in the “Closed” status. You can use the simulation run if consolidation has been completed for the previous financial period and year.

Enter the following field in the “Search Criteria” group box:

Consolidation Option

Use the drop-down list box to select whether you want to consolidate the finance book for a “Year” or the “Period”. The system displays “Period” by default on launch of the page.

Note: “Year” or “Period” must be selected only if simulation run number has not been entered.

Financial Year

Use the drop-down list box to select the financial year that you want to consolidate. All the financial years that are in the “Open” status for the “Main Finance Book” will be available for selection in the chronological order.

Note: All the tax years that are in the “Open” status will also be available for selection if “Posting Tax Book” is selected in “Book Type” field.

Financial Period

Use the drop-down list box to select the financial period that you want to consolidate. All the financial periods defined for the selected financial year and that are in the “Open” status for the “Main Finance Book” will be available for selection in the chronological order.

Note: “Blank” will be displayed in this field if “Year” has been selected in the “Consolidation Option” field. The tax periods that have been defined for the selected tax year and that are in the “Open” status will also be available for selection if “Posting Tax Book” is selected in the “Book Type” field.

Click the “Get” pushbutton to retrieve the finance book details.

The system displays the following in the “Search Results” multiline based on the search criteria entered:

Note: The system retrieves “Posting” finance books that are in the “Closed” status. The system also retrieves “Posting” tax books that are in the “Closed” status if “Posting Tax Book” selected in the “Book Type” field. The finance books / tax books that are retrieved must not have been consolidated for the selected Financial year / Financial period. The finance books / tax books that are retrieved must have been consolidated for the previous financial year / financial period in the “Main” finance book.

Finance Book	The code identifying the finance book or tax Book.
Finance Book Description	A textual description of the finance book or tax book.

Check the box in the “Select” column of the multiline to mark a finance book for consolidation.

Note: At least one finance book must be selected for consolidation. You cannot select a finance book for which the consolidation run is “In Progress” or “Consolidated” or “Aborted”. If simulation run no is selected for consolidation, then all the finance books will be selected.

Click the “Consolidate” pushbutton to consolidate the finance book.

The system generates a unique consolidation run number.

The system saves the details of the consolidation run and updates the status of the run as “Scheduled to Start”.

The system updates the login ID of the user and the system date in the “Created By” and “Created Date” fields.

The system updates the consolidation status of the finance books as “In progress”. If the “Consolidation Option” has been selected as “Year” the system updates the consolidation status of all the financial periods as “In progress”.

The system displays the following:

Created By	The login ID of the user who created the consolidation run.
Created Date	The date on which the consolidation run is created.

What you can do in this page

Set consolidation option

You can set whether you can consolidate a financial year or a financial period.

Set the “Consolidation Option” field to “Year” if you want to consolidate a financial year.
Set the “Consolidation Option” field to “Period” if you want to consolidate a financial period.

Prerequisites

“Tax Book Applicability” must have been set to “Yes” if you want to consolidate a tax book.
“Finance Book Processing” business component must have be available in the login organization unit.
“Main Finance Book” must have been defined in the “Organization Setup” business component.
“Posting Type” must have been defined as “Summarized Balances” or “One to One Transactions” in the “Company Process Parameter”.