Carry Forward Calculation Rules

The Carry Forward rule is a business rule that helps move the closing balances of previous year to current period. This rule enables the seamless transfer of closing balances from the previous year to the opening balances of the new year, ensuring consistency in financial data without manual intervention. After uploading the Entity financials (such as Income statement and Balance sheet), the system uses the carry forward rule to transfer the last year's closing balances to the current year opening balance for the data preparation of the balance sheet data for consolidation. The carry-forward rule populates the opening balances for the current year with the closing balances of the prior year's last period.

Consolidate Data in Sheet

An option 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.

Required Field Types

To use this feature, ensure that your sheet contains the following required field types:

Version
Time
Account
Flow
Organization Unit
Dataset
Group (Currency)

Consolidation Options

Options under Consolidate Data in Sheet:

Maintain as YTD Balance - Stores data in a Year-to-Date (YTD) format for each month, ensuring that PL data reflects cumulative values.
Track Interco Detail - Tracks trading partner data within the same sheet.
Enable Auto Journal and Elimination - Allows automatic journaling and elimination rules within the sheet.

Executing Carry Forward Rules

Rules can be executed from the Features tab in the sheet, or run as a calculation step in Activities from the task pane.

The Carry Forward rule is part of a broader set of Consolidation Rules within ProcessIQ Features.

Flow Member Restrictions

When Opening Balance Carry forward action is enabled:

User will not be able to input to Flow member F00
Formula will also not impact result of Flow F00 (Apply to All Currencies)
Warning messages will appear for Flow member F00 when selecting in Metric Page if the action is enabled

Note: By automating this process, users can ensure consistency in their financial data without manual intervention.