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GL : Consolidation
Consolidation
Consolidation is the process of transferring the data from ‘one ledger’ (subsidiary) to another
ledger (primary).v x
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GL Consolidation
GL Consolidation
Consolidation:
Consolidation is functionality in the General Ledger module that allows you to
combine/consolidate Accounting/Financial results of multiple companies from multiple set of
books (SOB), Currencies, Calendars & Accounting flexfield structures.
In other words, Consolidation is a period-end process of combining the financial results of
separate subsidiaries with the parent organization to form a single, combined statement of
financial results.
Consolidated data is required at the end of year usually when companies prepare their balance
sheets.
Overview of Consolidation:
Consolidation of companies within a Set of Books
Consolidation of companies across multiple Sets of Books in the same instance
Consolidation of companies across multiple Sets of Books across multiple instances.
Accounting for some companies is maintained in non-Oracle applications
Same or Different Charts of Accounts
Balances or Transactions
Same or Different Calendar
Same or Different Currency
Balance Type
Actual/Translated
Budget
Statistical
Consolidation Steps:
Create Consolidation mapping: parent and subsidiary sets of books
Post all Journals in subsidiary set of books
Revalue foreign currency balances in subsidiary sets of books
Translate subsidiary balances to the functional currency of parent set of books
Run and review trial balance report
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Below mentioned diagram is the example of Consolidation for Multiple countries i.e. U.S,
Norway & India where Set of Books for multiple countries are consolidated.
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