Consolidation Features

We have introduced a new option in the sheet that allows you to run consolidation directly from the sheet. The option, Consolidate Data in Sheet, provides a simple and user-friendly way to set up and execute data consolidation rules for sheet data. This enhancement is designed to improve efficiency and ensure accuracy when working with financial data across various entities and groups.

Overview of Key Features

• Carry Forward Rule: This rule enables the seamless transfer of closing balances from the previous year to the opening balances of the new year. By automating this process, users can ensure consistency in their financial data without manual intervention.

• Currency Conversion Rule: This rule allows users to handle currency conversions on demand, ensuring accurate financial reporting across multiple currencies. Exchange rates can be preset and maintained under Rates, enabling quick and precise conversions whenever required.

• Group Consolidation Rule: This rule is used to consolidate data from the entity level to the group level, following the configured ownership structure. By defining ownership hierarchies and consolidation rules, users can aggregate financial data efficiently while maintaining compliance with predefined structures.