Update Consolidation Snapshot

Explanation

This activity is used to update the consolidation snapshot. A user from the parent company will use this activity to gather the balances from all subsidiaries and update the consolidation snapshot so the latest information can be used for follow-up-analysis and reporting. If the snapshot update is done through a SnapCon file, you will be able to decide where and under which name the updated snapshot consolidation file should be stored.

Prerequisites

In order to perform this activity, a parent company and at least one subsidiary company to the parent company should exist.

System Effects

As a result of this activity, the consolidation snapshot information will be updated and balances from the subsidiaries will be available for analysis and reporting. The subsidiary balances will be converted to the parent company's code string, and grouped accordingly. Currency conversion will be performed, if applicable. The currency rate valid as of the last date in the accounting period will be used for currency conversion. If balances already exist for a subsidiary, any overlapping information in the same year and period will be replaced by the latest update.

Window

Update Consolidation Snapshot

Related Window Descriptions

Update Consolidation Snapshot

Procedure

Use the following procedure to update the consolidation snapshot online:

1. Open the Update Consolidation Snapshot window.
2. Enter the Subsidiary ID or IDs of the companies for which the consolidation snapshots should be updated.
3. Enter the relevant accounting year and the period range that is to be updated.
4. If previous consolidations and currency adjustments are to be used, select Use Previously made Balance Consolidations check box.
5. Specify the accounting currency type to be used for the balance accounts and the profit and loss accounts when updating the snapshot.
6. If consolidation snapshot is to include statistical accounts, quantity accounts and simulation accounts, select the relevant check boxes.
7. Select the File check box if the updated snapshot should be saved as a file.
8. Confirm the information. A confirmation message will be displayed to notify the status for the update of the snapshot balances.