IL Snapshot Consolidation-Key Exercises

IMPORTANT
It is extremely important that you set up and work within your own companies to maintain your data integrity. If you work within any other companies, your exercises will not function as intended and the data of other students might be affected. Predictable exercise results require that your data be isolated in your own companies.

Basic Data Setup

General Consolidation Basic Data

Purpose: You must have completed the General Consolidation Basic Data Setup exercise before continuing with the IL Snapshot Consolidation Basic Data. 

Link to Basic Data Setup

Internal Ledger Basic Data

Purpose: You must have completed the Internal Ledger Basic Data Setup exercise before continuing with the IL Snapshot Consolidation Basic Data. IL basic data needs to be defined for subsidiaries as well as for the parent company. 

Link to Basic Data Setup

Required Data

Internal Ledger Entry

Purpose: You must have completed the Internal Ledger Entry exercise before continuing with the IL Snapshot Consolidation Basic Data. IL ledger balances must exist in the subsidiaries. 

Link to IL Entry

Internal Ledger Consolidation Basic Data

Purpose: The purpose of this exercise is to connect the subsidiary's internal ledgers to the parent company’s internal ledger.

Windows:
Define Internal Ledgers

  1. Open the Define Internal Ledgers window.
  2. Enter the parent company’s internal ledger ID for whose subsidiaries the consolidated snapshot information should be created or updated.

Main Exercise

Purpose: The purpose of this exercise is to show you how to perform an IL Snapshot Balance Consolidation so that the consolidated information can be viewed and analyzed instantly.

Internal Ledger Snapshot Balance Consolidation

Purpose: The purpose of this exercise is to show you how to perform an IL snapshot balance consolidation. No vouchers will be updated in the process, instead, the IL snapshot balances will be updated for the involved subsidiaries.

Windows:
Update IL Consolidation Snapshot
 IL Consolidation Snapshots Analysis

  1. Open the Update IL Consolidation Snapshot window and make sure that the parent company and ledger IDs are correct.
  2. Enter the ID or IDs of the subsidiaries for which the consolidated snapshot information should be created or updated. Multiple subsidiary IDs can be entered by separating the IDs using a semicolon, or by selecting more than one subsidiary from the list of subsidiaries.
  3. Enter the years and the periods to be updated using the snapshot process.
  4. Specify the currency types to be used when updating the balance accounts, and the profit and loss accounts.
  5. Click OK. When the update of the snapshot is complete, a confirmation message appears. An error log will be created if there were any errors in connection with the consolidation snapshot process. You can open the error log to view these errors by right-clicking in the IL Consolidation Snapshots Analysis window.  
Note: During the update, balances will still be updated even if any errors occur (other than currency information related errors). However, you will need to perform the snapshot process again to update the balance information with the correct data.  

Query Internal Ledger Snapshot Information

Purpose: This query is used to view information about the performed consolidation snapshots. It is only possible to view information in the query windows. You cannot enter or modify any details.

Windows:
IL Snapshot Balance Analysis

  1. Open the IL Snapshot Balance Analysis window.
  2. Query for the item you are looking for (F3), and then select which information you want to view.
  3. Select the appropriate options for more information.

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