Simulate Finance Book Consolidation – A summary of the activity

This can be termed as the aggregation of balances available in multiple finance books of a company. This consolidation would give the financial statements of the company. Transaction entries are usually passed in the “Posting” finance book of a company. The aggregation of the balances available in the multiple “Posting” finance books is made in the “Main” finance book of the company. After consolidation the financial entries are made in the “Main” finance book of the company. Based on the business requirements one can post the summary of the balances or even the individual transaction entries after the consolidation process is completed. The consolidation of the finance books can be done for a selected financial year or financial period. Consolidation can also be done for a specified date range.

Typically a consolidation process is carried out at the end of a financial period or financial year. If you want to know the financial performance of the company at any other point of time you can view it by simulating a finance book consolidation. A simulation consolidates the finance books and arrives at the balances without consolidation entries being passed in the selected finance book. After a simulation you can view the balances by generating a report. You can simulate a finance book consolidation any number of times before the actual consolidation takes place. You can also use this run number during the actual consolidation.

This page allows you to define the process that has to be run for simulating the finance book. You can simulate a consolidation for a financial year, financial period or for a specific date range also. You can also set the type of posting that must be followed for the run number. You can include the financial information pertaining to an external enterprise and also include the memorandum vouchers that have been raised while simulating consolidation of the finance book. You can select the reporting structures for which the simulation must be carried out. The system generates a unique run number while saving the run details and updates the status of the run as “Scheduled to Start”.

The simulation process would be carried out later with the help of the scheduler. The simulation results can be viewed in the form of a report.