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- Financial Consolidation
- Questions about Financial Consolidation
Questions, answered
Understand source acceptance, translation, financial review and published access.
Financial Consolidation
10 questions
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How do I get started?
Click Get started to create your ERP.AI account, then use Proto to configure Financial Consolidation for your group. Connect the authorised source ledgers, confirm the reporting population and methods, and reconcile a complete close with the review team.
Does this replace the subsidiary general ledgers?
No. Each subsidiary ledger remains responsible for its own books. Financial Consolidation accepts source trial balances and records translated balances, eliminations and adjustments in the group consolidation layer.
When is a subsidiary submission ready for group calculation?
The required entity needs one current Accepted trial-balance revision with balanced amounts, complete approved mappings and matching period and currency evidence. Imported or Submitted documents do not satisfy acceptance.
Can a subsidiary controller see another company’s books?
Subsidiary Controller access stays within the assigned entity. A shared intercompany dispute exposes the relevant authorised exception context, without opening unrelated sibling balances, attachments or exports.
What happens when an exchange rate is missing?
The required currency, rate type, date and historical basis remain visible as a missing input. Translation waits for a reviewed matching rate rather than using a silent default.
How are intercompany differences handled?
The team compares reciprocal source identities, investigates the difference and records an approved disposition. A tolerance does not permit an unbalanced elimination or invent a missing counterparty entry.
Can we handle acquisitions and minority interests?
The system preserves effective ownership and reviewed allocation methods. Simple common-equity allocations use the configured basis; acquisitions, control changes and more complex rights require approved specialist workpapers before their result enters the close.
Are closing trial balances enough to build a cash flow statement?
The statement also needs reviewed cash movements and non-cash, ownership and currency-effect explanations. Missing movement evidence keeps the statement in draft so the team can reconcile the cause of the change.
Does signing a statement make it available to the board?
Signing applies to the reviewed revision. The separate publication decision commits the immutable artifact set and financial lock before Executive Reader access or board-pack distribution is allowed.
How do we correct a published close?
The Group Controller authorises a reasoned restatement revision linked to the earlier publication. It repeats the required source, calculation and review work while preserving the original pack and its history.
Set up Financial Consolidation your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.