GL Consolidation Process

[@archanashinde4005]

your all videos on ebs and fusion are really helpful. I am learning lot of things looking at it.your way of teaching is excellent.

[@OracleEbizandFusionVideos]

Glad to hear that

[@SumitKumar-uj8jo]

Consolidation concept get clear with this video. Thanks you so much...keep going

[@OracleEbizandFusionVideos]

Thanks Sumit...

[@bandanasrivastava7288]

Today I watched this video and its very very good stuff .Please post more on SLA and IRSO transaction and setup Process if possible.

[@OracleEbizandFusionVideos]

Sure

[@selvarajbaskaran6839]

Thanks for explaining in detail.

[@OracleEbizandFusionVideos]

You're welcome

[@khushboovarshney319]

Can we transfer the balances from reporting ledger to the consolidated ledger thru the balance transfer process in Oracle fusion?

[@vankit49]

Hello Sir, thank you for the simplified explanation. When I am trying to do the same using my Ireland responsibility, the consolidation form is getting opened in US ledger. Whereas it should open in EUR ledger. Any suggestions sir??

[@OracleEbizandFusionVideos]

In my example, i tried to consolidation process using General Ledger Super user, Reliance Consol Responsibility where GL: Data Access set assigned to this responsibility is "Reliance Consolidated Ledger".... You should check similar setup under your scenario

[@PavanVasireddy-tl2qr]

Hi Sir, In consolidation process secondary ledger is mandatory? and why

[@OracleEbizandFusionVideos]

Secondary ledger is not mandatory in Consolidation process.. You can always consolidate the data of only Primary ledgers

[@anelmah]

Great . I am beginner's for ebs . U make concept clear .. pls posting new video.

[@OracleEbizandFusionVideos]

Thanks.. Sure.. Please subscribe to my channel... I will post one new video every Friday

[@Dileepkumar-pd1cs]

U my

[@Dileepkumar-pd1cs]

Nice Video about consolidation

[@maheshbelagavi9948]

Good and Nice information...

[@OracleEbizandFusionVideos]

Thanks

[@fcortes1963]

Thanks for your contribution!!!

[@OracleEbizandFusionVideos]

Thanks

[@hanyelniklawy4528]

Greate Effort🙂

[@OracleEbizandFusionVideos]

Thank you! Cheers!

[@nkaur7609]

In case of USD ledger to consolidation ledger consolidation ,If we have run the consolidated process and posted consolidated journals but later we realized that incorrect conversion rates, period-end and period-average rates where used for translation. Can we still reverse the consolidated journal and re-run the translation with correct rates and then rerun consolidation process to generate correct consolidation journal?

[@OracleEbizandFusionVideos]

Yes, you can do that. I have personally seen that happened in couple of clients i worked with...

[@furqankamran2778]

Hi, We have different currencies for both parent and subsidiary ledger, but we have defined reporting currency for subsidiary same as the currency of parent. Is there any way we can transfer data directly from the reporting currency to the parent ledger?

[@OracleEbizandFusionVideos]

I think yes... You should be able to transfer data from reporting ledger of subsidiary to parent ledger

[@furqankamran2778]

@@OracleEbizandFusionVideos Do we need a secondary ledger for transferring or we can transfer from the subsidiary primary ledger having reporting currency the same as the currency of the parent primary ledger.

[@raghuraghu-hi7qm]

Aravind what is that accounting rule, could you please tell me. you only telling segment rule. but didnt tell what is the use of accounting rule.

[@OracleEbizandFusionVideos]

In the case of accounting rule, you specify the source account code combination mapping to target account code combination...

[@furqankamran6503]

Hi, In the transfer Consolidation form, under the Parent standard period it showing no List of values, can you help?

[@OracleEbizandFusionVideos]

Check if the Period is in Open Status or not

[@afrash2003]

A very good explanation for the consolidation, I have one question here. if we have a sub consolidation should we create another Ledger for the sub consolidation or it is only one for all , Thanks in Advance

[@OracleEbizandFusionVideos]

Hi, Can you be more specific with example on sub consolidation... i did not get your question...

[@afrash2003]

@@OracleEbizandFusionVideos Hi, for example i have a company A that fully own company B and company A is owned by Group C that owned A, D & E. at that time we have a sub consolidation between A & B. Also we have the main consolidation for All companies A, D & E under the Group C. Thanks in Advance

[@afrash2003]

Any Ideas?

[@OracleEbizandFusionVideos]

@@afrash2003 it's not required to create another separate ledger foreign consolidation of A and B.... B data gets into A and A, D, E dara gets into C

[@prashanthanantharamu7203]

Very precise and nice!

[@OracleEbizandFusionVideos]

Thanks

[@taruneetkaur6910]

Your videos are really good. I need a small input as in what is the difference between Subsidiary Ledger and Secondary Ledger

[@OracleEbizandFusionVideos]

All Primary ledgers which are consolidated into Parent ledger... In this example, the primary ledgers which are being consolidated into Parent ledger are called Subsidiary ledgers...Secondary ledgers are associated with Primary ledger.... You can refer the below video to get more insights about Secondary ledgers kzbin.info/www/bejne/pHLVfWWHoLJjocU

[@KumR]

Are these two ledgers primary ledger and secondary ledger under same enterprise ?

[@OracleEbizandFusionVideos]

All the ledgers which i had shown in this example are under same Business group. Btw, both the ledgers shows in this example are Primary ledgers

[@srinivasgmailcom]

Could you please confirm the process of COA mapping If the source and Target ledger COA is different...

[@OracleEbizandFusionVideos]

If Source has more segments than target, then in COA mapping you will be able to see only the number of segments as that of Target... If Target has more segments than that of Source, then the additional/extra segments needs to be mapped to default value of "000"

[@trktrendings7343]

Great job...can u post auto invoice task video...

[@OracleEbizandFusionVideos]

Sure

[@sunilkolliakal9286]

Is there a way to eliminate inter co profits. What I mean is that in case of IR/ISO there will be a markup. This has to be eliminated during consolidation

[@OracleEbizandFusionVideos]

Yes, thats possible. Ideally that needs to be eliminated in consolidated ledger. You need to appropriately set those accounts under elimination set and then generate elimination entries

[@vankit49]

This video is amazing, thanks for guiding people like us :) There is one question though is it possible that the COA structure may differ when you setup the coa mapping for consol ledger?

[@OracleEbizandFusionVideos]

Its possible to consolidate data from different ledgers which have different COA into a consolidated ledger which can have different COA

[@mpurkar1]

Why is the currency showing INR only?

[@OracleEbizandFusionVideos]

Because in my example, Functional currency of Consolidated ledger is INR

[@chetanbhateja53]

Sir, Big fan of your content. But 1 question - Is it mandatory to create A Ledger for Consolidation, should we also need to create a Unique Legal Entity also? Further, can we also consolidate books when there are multiple ledger with multiple Legal entity. What will change in the steps in that case?

[@OracleEbizandFusionVideos]

1. Its not mandatory to create a separate Consolidated ledger... If you have Ledger A and Ledger B... option 1 would be create Consolidated ledger and consolidate the data from A and B into consolidated ledger... Option 2 would be push the data from say Ledger A into Ledger B... So that Ledger B will have the data which is entered in it and also the data from Ledger A.... It all depends upon business requirement...

[@financialsfunda4724]

Nice !!!!

[@OracleEbizandFusionVideos]

Thanks

[@Raj-xw1lv]

Hi sir M going to transfer CAD ledger data in to INR ledger but after running consolidation concurrent then journal import goes in to wu01error that show that journal is unbalanced but if we run for YTD then journal import complete successfully what i observed is that after run translation of CAD balance in to INR debit and credit are not equal as due to different exchange rates..so please you bring light on my issue and guide me.. Many Thanks Anurag Aggarwal

[@OracleEbizandFusionVideos]

When you run your translation process under CAD ledger for converting your CAD balances into INR, system will take the net balancing figure (due to difference in exchange rates being used for P&L and B/S accounts) to Cumulative translation adjustment account (CTA). So, in your case, whether this diff is not going to CTA account?

[@vishnummenon5925]

Thanks for the videos. Very informative. Had couple of questions 1) Can we run consolidation for a Ledger Set. ie consolidate balances from a Ledger set to a Consol Ledger? 2) Is there any report that can be executed to see the results post consolidation process. This would be helpful if there are lot of journal entries post consolidation

[@OracleEbizandFusionVideos]

Answer to Question 1:- Consolidation is always from one ledger to another.... You cannot run Consolidation from a Ledger Set... Answer to Question 2:- Try running "Consolidation - Journals" report

[@krisbond5461]

how about inter company eliminations ??

[@OracleEbizandFusionVideos]

Hi Kris, This is a video concentrating only on Consolidation process. In general, Intercompany eliminations are done in Consolidated ledger. Soon, i will post a separate video on Intercompany eliminations process

[@krisbond5461]

Kindly let me know if a video is available on Intercompany eliminations process

[@OracleEbizandFusionVideos]

Hi Kris, based on your request, i had created video on intercompany elimination process.. Please refer kzbin.info/www/bejne/qn_YfH6dfs9pe68

[@PavanVasireddy-tl2qr]

If anything not consolidated where we can find out

[@OracleEbizandFusionVideos]

If the Consolidation Method is "Transactions", then In "Transfer Consolidation Data" screen, click on "Consolidation" button and you should be able to see unconsolidated journals. If the consolidation Method is "Balances", then this scenario of some balances consolidated and some balances did not do not arise

[@samuelmathew7926]

I need to put detail JV description in GL for the transactions from sub modules. What all steps required to do in SLA. I tried ,but failed. Kindly help

[@OracleEbizandFusionVideos]

Hi Samuel, Can you try to provide more details on what are the details which you want under Journal line description and also for which sub ledger journals you are expecting to see these detailed Journal line description?

[@samuelmathew7926]

Hi, When transactions from sub modules to GL, in GL description column shows 'Journal import created' . Now what I need is when I post transactions from AP,AR and FA in GL the description should show details of the transactions like invoice num,trx type, supplier name, asset num etc. please help

[@OracleEbizandFusionVideos]

Can you let me know what kind of GL Summarization options are you using for your subledgers... this information will be found under your ledger setup

[@samuelmathew7926]

Currently the the general ledger journal entry summarization : Summarize by GL period.

[@OracleEbizandFusionVideos]

You cannot expect Journal line description to have Invoice num, trx type etc.. when you are summarizing the data by GL Period. In order for Journal line description to have invoice num, trx type etc.. details, you need to either go for GL Summarization of "In Detail" or "Group by GL date"