With Consolidation Management, consolidated reports can be prepared without having to manually export and combine data using third-party database or spreadsheet software. Transaction activity is exported from all subsidiary products (even those with different currencies and account structures) and imported into a separate, consolidation database. Financial reports and dashboard views of subsidiary activity are then produced within The Financial Edge.
To create consolidated financial statements:
- Define a default currency and default accounts for your consolidation database.
- Create an account structure export file.
- Create a consolidation map for each subsidiary database.
- Define currency exchange rates for subsidiary databases with activity in multiple currencies.
- Create an account activity export file for each subsidiary database.
- Import the account activity export files into the consolidation database.
- Generate reports from the consolidation database.
For detailed instructions on using Consolidation Management, refer to the Consolidation Management Guide (PDF).
For information on purchasing Consolidation Management, contact your Account Representative