D365 Finance & Operations and Dynamics AX Forum

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Consolidations

  • 1.  Consolidations

    SILVER CONTRIBUTOR
    Posted Jun 05, 2020 02:59 PM
    Edited by Amy Akley Jun 05, 2020 03:36 PM
    We are in the process of upgrading to D365 from DAX 2012. We do not currently run the consolidation process in DAX 2012. I am considering running it in D365 but am wondering how others on D365 are handling the opening balances? Consolidating in MR is not an option.

    Thanks,

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    Amy Akley
    Sr. Financial System Analyst
    XTRA Lease
    Saint Louis MO
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    Academy - Online Interactive Learning from Experts


  • 2.  RE: Consolidations

    Posted Jun 08, 2020 08:37 AM
    Amy;

    Since you're not able to make an actual journal entry in a Consolidation company, you'll need to run consolidations from the earliest point in time of your data.

    Depending on your need, instead of running monthly, you can run for the entire year at once until let's say you get to the prior year, then start running that monthly, etc.

    If I may ask, why do you consider MR a non-option?  Also, how are you consolidating today?

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    Brad Bertchie
    Senior Consultant
    Western Computer
    Oxnard CA
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    Academy - Online Interactive Learning from Experts


  • 3.  RE: Consolidations

    Posted Jun 08, 2020 06:53 PM
    Amy,  I am reluctant to advice without knowing the full details.  You can use an elimination company to load the opening balances.  While it is true you can create JE in the consolidation company you can do so in elimination company.  Perhaps that could be an option.

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    Murugan Kumar
    Avanade
    Seattle WA
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    Academy - Online Interactive Learning from Experts


  • 4.  RE: Consolidations

    SILVER CONTRIBUTOR
    Posted Jun 10, 2020 02:10 AM
    Edited by Shilpi Thakur Jun 10, 2020 02:10 AM
    Consolidation can be handled in D365 FO in different way based on your requirements but somethings to note are as follows:

    • Consolidate online can be considered to consolidate daily balances by selected accounts and dimensions and store in consolidated company.
    • You can export the company balances and use consolidate with import option to import balances into a consolidation company, depending how you want to handle consolidations setup in your companies and other subsidiaries.
    • Currency revaluations, when you consolidate data from one accounting currency to another you still have to run the revaluation if there are changes in exchange rates so that the account balances are correctly revalued.
    • To see the opening balances you still might have to run a year-end close in the consolidation company.
    There are benefits of using Financial Reporting in D365 for consolidations listed below, which might help you to reconsider your option of not using reporting for consolidations:
    • Consolidate transactions and balances from multiple companies during report generation and the report can be run at any time.
    • Ability to drill down to all companies and dimensions level [depending on your organization and account structures in D365 FO.
    This choice again depends on need of your customer including how you are setting up the chart of account structure and auditors requirements.

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    Shilpi Thakur
    Freelance AX/D365 Microsoft Consultant
    Dynact Consulting Ltd
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    Academy - Online Interactive Learning from Experts


  • 5.  RE: Consolidations

    SILVER CONTRIBUTOR
    Posted Jun 11, 2020 09:20 AM
    Can I run a year-end close on a Consolidation or Elimination company? I've never tried that. Has anyone else?

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    Amy Akley
    Sr. Financial System Analyst
    XTRA Lease
    Saint Louis MO
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    Academy - Online Interactive Learning from Experts


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