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  13. Update the corporate company

Update the corporate company

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The following describes how you perform the actual update of the originating company data into the corporate company.

Note: The routine can only be reached if you are working in a corporate company.

Prerequisites
The following pseudo accounts must be defined:

  • XCOER – Consolidation transfer balance differences.
  • XCOXD – Consolidation currency translation differences.

An error report is always printed for each originating company, showing errors that have been found while trying to update. There are two types of errors:

    1. One is showing which account numbers could not be converted.
    2. The other one is showing in which periods there is a debit/credit difference.
  1. Select the Update corporate company menu item.
  2. You access Update corporate company. Select the applicable originating company(ies). Tip: Several originating companies can be selected for update. Should you want to update all of them, simply click Select all.
  3. On the detail panel you define the conditions for the consolidation. Complete the following fields:

    Selection

    Accounting period
    Select the accounting period for the corporate company in which the balances and/or budgets should be consolidated. Budgets will be consolidated, in one run, from the selected “from” period up to and including year end values. Values are retrieved from the originating company’s consolidation data. The period is defaulted from the oldest previous period for the selected originating company(ies), but can be changed.
    Note: Old balances for the corporate company of the selected accounting period are not cleared, but old budget values will be cleared from the requested “from” period and for the rest of the year. You also have the possibility to perform a total period update once again. See Total period update below for instructions.
    Tip: Click Select period range to consolidate a range of periods.
    Conversion report
    Indicate if you want a conversion report printed, with the accounts that have been converted successfully. The report does not show any balances on the accounts.

    Balances

    Consolidate period
    Set to YES if you want to consolidate the balances into the corporate company. Set to NO if you want to leave all balances as they are.
    Current exch rate
    Enter the period code for DAY, WEEK, MONTH or YEAR, and the level code for HIGH, MEDIUM or LOW and the period for the current exchange rate from the corporate company. Note: Accounts defined with consolidation type 1 will be converted using this exchange rate type. All exchange rate types to be used in this routine are defined on main account level in the originating company in Consolidation type in the Account file.
    Total period update
    This field allows you to perform multiple total updates to the same period in the corporate company. The default is NO, meaning that the transfer from the originating company will only update with any differences found between the transactions that were transferred during the latest run and the new update. If you set to YES, all period values are transferred once again. Note: If you want to perform a total update, you have to remove the old updated values by eliminating the previous journals for the selected periods and originating companies. See About copying/eliminating G/L journals for instructions.
    Average exch rate
    Enter the period code for DAY, WEEK, MONTH or YEAR, and the level code for HIGH, MEDIUM or LOW and the period for the average exchange rate from the corporate company. Note: Accounts defined with consolidation type 2 will be converted using this exchange rate type.
    Auto elimination
    Indicate if you want to automatically remove all old transations and balances for the selected originating company and current period during a new total update. If you set to YES, then Total period update must also be YES.
    Historic exch rate
    Enter the period code for DAY, WEEK, MONTH or YEAR, and the level code for HIGH, MEDIUM or LOW for the historic exchange rate from the corporate company. Note: Accounts defined with consolidation type 3 will be converted using this exchange rate type.
    Auto revaluation
    Indicate if you want the G/L revaluation routine to automatically start after transferring accountings for the selected period and originating company when running an automatic update. Certain prerequisites apply in order to set this field to YES. See section Automatic revaluation handling for more information
    Automatic update
    Indicate if you want the retrieval of G/L transactions and the update of the corporate company to be performed immediately and automatically. The default is YES if the selected originating company was automatically updated in the latest run. If you set to NO, then the update will have to be manually done in two steps:
    1 Create interface file for accounting transactions from pre-system in Update corporate company.
    2 Manually invoke the Retrieve financial transactions program to run the final update into the transaction and balance files in the corporate company. This could be useful if you want to create a break between the two routines, for any reason.

    Budgets

    Consolidate from per
    Set to YES if you want to consolidate budgets into the corporate company. This will clear and re-create all budgets, from the selected “from” period up to and including year end, in the corporate company. Set to NO if you want to leave all budgets as they are.
    Budget exch rate
    Enter the period code for DAY, WEEK, MONTH or YEAR, and the level code for HIGH, MEDIUM or LOW and the period for the budget exchange rate from the corporate company.

    Click OK. The final update may end up in a journal in error, which is corrected in the normal Journal in error routine.

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