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.
In order to perform this activity, a parent company and at least one subsidiary company to the parent company should exist.
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.
Use the following procedure to update the consolidation snapshot online:
Use the following procedure to update the consolidation snapshot using batch scheduling:
Click Schedule to open up the Create New Task Schedule where you can set up batch scheduling information.