Automatic Consolidation in Intercompany Solution
Automatic consolidation enables you to automate the consolidation process.
In automatic consolidation, you need to schedule the consolidation process subsequent to which all processes like export/import of financial data are executed automatically without any user input.
To setup the automatic consolidation, perform the following steps in the consolidation company
- From the SAP Business One Main Menu choose Administration → Setup → Intercompany → Consolidation - Automation. In the Consolidation - Automation window make the following settings:
Automatic Consolidation Window
|
Field |
Description |
|
Start Date |
|
|
Frequency |
Choose the whether to export the journal entries on a Daily, Weekly, or Monthly basis. The default frequency is set to Daily. |
|
Branch Code |
Displays the branch code. All branch codes are listed in this window. This field is read-only. |
|
Execution Time(Hour), Execution Time(Minute) |
Specify the execution time, hour and minutes. |
|
Start/Stop |
Choose this button to start the consolidation automation process. Once the process is started button caption changed to Stop. Choose the Stop button to stop the consolidation automation process. In case an export or import are in process, it is not possible to stop the scheduled automatic consolidation process. |
|
Export Check Status/ Import Check Status |
Choose this button to check the Export/Import status. |
|
Update / Ok |
The user can update changes to the data |
|
Cancel |
The cancel button does not save any changes and closes the window |
- Define the Start Date on which you wants to start exporting the Journal Entry, that is – Date from which the financial data must be used for consolidation reporting. E.g. If the user enters the Start Date as 01/01/2010, then the Automatic Consolidation process will starts exporting Journal Entry from the date 01/01/2010 till current date. Current date will be the date on which automatic process will execute.
- Select the Frequency of Automation run from the dropdown that is Daily, Weekly or Monthly.
- Select Execution time in Hour & Minutes for all the branch companies and choose the Update button.
- Choose the Start button to start the consolidation process.
- User can track the Import process by choosing the Status button. On the Status window the user will be able to see the branch code, export instances, date/time of initiation, date/time of completion, percentage complete and status.
Note
1. In case of multi-level consolidation, Steps 2 to 5 should be repeated for all consolidation companies. Ensure that these steps are executed for each consolidation company in a hierarchical manner, that is – bottom up.2.In case automatic consolidation is on Start mode, you will not be able to run the manual consolidation. To run the manual consolidation you have to first stop the automatic consolidation.Once the financial data from all branch companies has been imported into the consolidation company using either manual or automatic consolidation process you can run the standard SAP Business One financial reports in the consolidation company to view the consolidated financial statements mentioned above.3.You can view the data of an individual company by filtering the SAP Business One financial reports in the IC Branch Code field of the consolidation company.4.When you are consolidating the financial data from the branch enabled company to the consolidation company, system takes the values from the Branch (BPLId), Branch Name (BPLName) fields of the journal entry/journal voucher and transfer these values in to the Branch Code (U_CTX_BRCID), Branch Name (U_CTX_BRCNM) fields of the journal entry in the consolidation company. You can view the data of an individual branch by filtering the SAP Business One financial reports in the Branch Name (U_CTX_BRCNM) field of the consolidation company.5.In Case of Multi-level consolidation, from the consolidation company, the values in the Branch Code (U_CTX_BRCID), Branch Name (U_CTX_BRCNM) fields of the journal entry goes in to the higher level of consolidation company in the Branch Code (U_CTX_BRCID), Branch Name (U_CTX_BRCNM) fields.
Recommendations
- You must configure the automatic consolidation.
- You must perform the Reset operation on the last day of every month and then re-configure the automatic consolidation from 1st day of the next month.
- You must perform the financial consolidation month on month basis.
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