Dynamics 365 Finance is provided with formal Consolidations functionality that enables a consolidated general ledger and optionally consolidated financial budget positions to be created and maintained within specifically configured consolidation legal entities.
Standard Dynamics 365 Consolidation capabilities include the following …
- Single Level Consolidations
- Consolidations that involve Eliminations
- Minority Interest
- Multiple Charts of Accounts across Legal Entities
- Differing Financial Calendars across Legal Entities
- Differing Local Accounting Currencies
The consolidation process is run from within the (parent, consolidation) company that the subsidiary companies general ledger balances are to be consolidated into … and all criteria for that consolidation process are specified at run-time e.g. GL main account ranges, use of consolidation accounts (multiple chart of accounts scenario) if required, date range etc.
it is also important to understand that the subsidiary companies that GL actual and optionally financial budget model values that are to be drawn from and consolidated are specified at run-time and are not subject to pre-defined setup or configuration.
The consolidate [online] process can be run as often as required, for example at the end of each period and then again once the period end is completed and period end accounts published.
Dynamics 365 Finance consolidations support multiple running of the consolidation process for the same period, with subsequent consolidation runs only consolidating new transaction postings not previously consolidated.
Consolidation Transactions for any subsidiary company from previous consolidations can also be removed if necessary. This also allows consolidations to be re-run and previously removed consolidation transactions to be recreated, if required.
Further information on Dynamics 365 Finance Consolidations capabilities are available on the Microsoft Docs site via the following URL …
The following Microsoft Blog post helps to provide further insight into the best approach to consolidations for your organisation in Dynamics 365 i.e. Consolidate Online or Financial Reporting
The video below is from the Microsoft Tech Conference 2017 and provides an extended walk through of Dynamics 365 Finance Consolidations capabilities.
Current functionality as of Dec 2021 remains the same as presented.