This activity is used to update the internal ledger (IL) consolidation snapshot. This activity is used to gather balances from subsidiaries and update the IL consolidation snapshot, so that the latest information can be used for follow-up-analysis and reporting. During the consolidation process, subsidiary dimensions in the coding structure, such as account, cost center, market, and product are translated to the parent company's coding structure, and any currency conversions are automatically calculated.
A parent company, and at least one subsidiary company of the parent company should exist.
As a result of this activity, the IL consolidation snapshot information will be updated, and balances from the subsidiaries will be available for analyzing and reporting. The subsidiary balances will be converted to the parent company's code string, and grouped accordingly. A currency conversion will be performed, if applicable. The currency rate valid as of the last date in the accounting period will be used for the currency conversion.
Update IL Consolidation Snapshot
Update IL Consolidation Snapshot