Success! – Implementing GL Consolidation in QAD Enterprise Edition Financials
Uncategorized, QAD Financials, Professional Services
Posted on: March 28, 2019 | By: Andy Vitullo |
Our Logan Team and the Strong Financial Client Project Team successfully implemented General Ledger Consolidations. The profile of this implementation was the following:
• Alternate Currency Source Ledgers including Peso and Renminbi
• Target US Dollar Currency Consolidation Ledger
• 1 year or 12 periods of General ledger History
Our results were the following:
• The QAD Consolidation of history replicated and balanced the historical consolidation workpapers without any adjustment entries. This was enabled using historical exchange rates emulating the original MS Excel consolidation workpapers.
• The new business process removed the requirement for elimination journal entries of intercompany profit and intercompany payables/receivables. The Financial Report Writer (FRW) was used to build an elimination Income Statement and Balance Sheet.
QAD’s Consolidation software functionality along with the deployment of the Financial Report Writer can enable an efficient month-end closing process to perform financial consolidations.
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