Running a consolidation in Microsoft Dynamics AX 2012
Posted on: September 29, 2015 | By: Jarrod Kraemer | Microsoft Dynamics AX/365
Many of our customers have complex corporate structures with various amounts of legal entities. Clients generally consider rolling up their financial information from each entity to one consolidated view as a must-have functionality out of their ERP system for financial reporting and analysis. AX 2012 provides a simple and effective way of running your consolidations to provide you a holistic view of the financial health of your company. As we demonstrated in one of our previous blogs on how to set up a consolidation entity, we will now detail the steps that need to be taken to run a consolidation in that entity.
First, if you haven’t done so already, create a consolidation entity. Again the steps for that process can be found here.
Next go to that legal entity in the address bar and go to the address: General ledger>Periodic>Consolidate>Consolidate [Online]
An online consolidation is one you would utilize if all legal entities were located on the same database. It will bring up this form. Select what range of accounts you would like to consolidate in the top two fields. In the consolidation period, choose which dates you would like the consolidation to be run from and to.
In the financial dimension tab, you can determine by which dimensions you would like to consolidate from your subsidiary companies.
The legal entities tab is where you will choose which companies you would like to consolidate and what percentage of them (if they are not wholly owned subsidiaries).
The description tab simply implies exactly that; a description of this consolidation run. You can also apply elimination rules to the consolidation to ensure that you are not double counting any ledger accounts that may cause inaccuracies in your consolidation. Use the currency translation tab if your company is using multiple currencies to ensure the proper exchange rate is being applied for certain ledger accounts.
Consolidations can be run on schedules using the batch functionality (bottom right corner) as well.
Once you are finished inputting your information, click OK to run the consolidation. You can view the transactions of your consolidation at the address General ledger>Inquiries>Consolidations. You can remove transactions from prior consolidations in this form too. Consolidations can be run as much as you feel necessary, so go try one out!
For additional information please feel free to reach out to us at info@loganconsulting.com or (312) 345-8817.
All the best!
Logan Consulting
www.loganconsulting.com