Post consolidated results in transactional currency (Financial Consolidation)

Hi.

We have a client that has a very specific request to be able to report their post-consolidated group balances at a transactional currency level (they use Sun as their ledger system). They are implementing the EPM Financial Consolidation module via the Infor Cloud.

This client wants to be able to report, by entity and by group, the post-consolidated balances made up by each source transactional currency. They are migrating from a Excel-based spreadsheet system where both pre and post consolidation balances are constructed from transactional data loaded by Q&A. They eliminate intercompanies at the transactional currency level (not at the group currency level) and post them into a consolidated BU in Sun.

I know with v12 you're able to load transactional currency balances via the FactsTransactionCurrency integration table but as far as my understanding goes the scope of this data goes no further than the pre-consolidated entity level intercompany matching reports.

The only balances transferred into the group cubes are at the group currency level (or converted via cube rules into other group currencies if you enable the new "Enable multiple reporting currencies").

Am I missing something here or has anyone else had a similar request and come up with a solution (other than building a completely bespoke system from scratch!)

Thanks,
Mark

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Comments

John Robson

Mark

My first though would be to consider multiple entitles per legal entity e.g. Co 1 USD, Co 1 GBP if the TBs balance by currency and you have a small number of currencies?

Otherwise transaction currency is only really used to reconcile open AR/AP by currency to distinguish balance differences from exchange differences so you are going a long way off piste.

mark-raynham

Hi John,

Thanks for the quick reply.

This was actually the solution I thought about but this presents two issues:

1. They run about 28 transactional currencies!!!

2. This would make intercompany matching very difficult as the counterparty would need to be tagged with the relevant entity + currency code and to determine that from source is very difficult, if not impossible!

Agree with your last comment about going a long way off piste! They are a difficult client who doesn't seem to understand what they've bought into and what its real purpose is as a robust consolidation system!!!

Thanks,
Mark

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filip-kosnac

[quote userid="62120" url="~/infor-epm-user-group/f/infor-epm-discussions/35930/post-consolidated-results-in-transactional-currency-financial-consolidation"]

the purpose of having data in by transaction currency is to identify how much of an intercompany difference is due to real currency effect.

to be able to present entity balance in functional currency in any group currency, it should be sufficient to activate the required currency as group currency.
in combination with the option "enable multiple reporting currencies", you can present it at the group level as well.

This is of course a "simplified" approach but to be honest, not sure what the "value addition" of the business case to have consolidation by every currency transaction is.
if the simplified approach is not enough, you could setup a same group in every currency and consolidate each separately. (every manual journal would have to be repeated in each group...so an automation would be in order...)

The only difference against the "simplified" approach above would be that you would end up with more accurate currency translation effect, but not necessary with changes in the eliminated differences.

There is no out of box solution as far as I know.

mark-raynham

I appreciate both responses and if I'm honest I expected these responses. I needed to show some goodwill to the client that I've asked the question.

What they want is impossible. In reality they want EPM to hold the transactional data like a ledger system, match off any intercompanies and consolidation adjustments at a transactional level and then report consolidated numbers by transaction (including the balances by transactional currency).

Filip - unfortuantely it isn't as simple as just enabling all relevant currencies as group currencies. If they have a $10k balance in Sun but the transactions making up that balance are £2k, $3k, and €4k, they want to be able to re-report the equivalent of that $10k balance (after any eliminations) in each of the three currencies.

I've challenged them to find a consolidation system which uses transactional as opposed to trial balance data as the basis of the data. I'm not saying there aren't any but, unlike how they've approached this project, the need to undertake proper research and actually engage with potential vendors.

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