After creating a Ledger Hierarchy to Set up Consolidations, you can Run the Consolidations routine. The Run Consolidations routine pulls data from Transactional Financial Cubes and Eliminations Transactional Financial Cubes into the Consolidations Financial Cubes, which will be available in the Consolidations Ledger(s) for running financial reports. If Foreign Currency Translation is required, it will automatically run as a part of the Run Consolidations routine.
Note: For additional information about Financial Cubes, refer to the Financial Cubes section below in this article.
The Run Consolidations tab includes Expand All and Collapse All buttons to expand/collapse the Ledger Hierarchy tree, as necessary. Additionally, for your convenience, a Refresh button displays to the right of the Collapse All button. After clicking Run to run the Consolidations routine, click Refresh to refresh the Run Consolidations page and remain on this page to see the status change from In Progress to Completed.
You have the option to perform the run routine in one of the following two ways:
Run for Parent Consolidations - the run routine will consolidate Financial Cubes only on the immediate children of the selected topmost level in the Ledger Hierarchy.
Note: If the immediate child is a Consolidations Ledger, this option will not rerun the immediate child consolidations.
- Run Parent Consolidations with Children - the run routine will consolidate Financial Cubes for all levels in a Ledger Hierarchy. The run routine will start at the lowest level of the hierarchy (children) and run each lower level, working up to the highest level in the Ledger Hierarchy.
Note: Click here to view the above image in full screen.
After selecting one of these two options, the last closed Accounting Period automatically defaults in the dialog box. To change the default, click the X, and then search for and select a different closed or archived Accounting Period.
Do you want to:
When you initially access the Run Consolidations tab, the following icons are available on the upper-right portion of the screen.
Access Path: Navigate to Accounting Home and click the Run Reports tab. Then, under the Consolidations menu, click Run Consolidations.
- Management Reports - provides access to the same reports that are available from the Accounting Home | Reporting | Management Reports link. This is a quick and easy way to access the Management Reports without having to return to the Accounting Home page.
- Knowledge Base - provides access to this Run Consolidations knowledge article. If you have the Set up Consolidations tab selected, the Set up Consolidations knowledge article displays when this icon is clicked.
- Dashboard - provides access to the same Accounting Dashboard that is accessible from Accounting Home | Reporting | Dashboards.
Run Consolidations Considerations
When running the Consolidations routine, keep the following points in mind:
- If you have one or more closed Accounting Periods, the Last Period Closed field that displays at the top left of the Run Consolidations screen will automatically be populated with the Last Period Closed. Additionally, the Date/Time Closed field will display the date and time for the last closed Accounting Period. If you have not closed any Accounting Periods, both of these fields will be blank.
- In order for the Opening Balance to be populated on the Trial Balance report, run the Consolidations routine on the prior Accounting Period. Then, rerun the Trial Balance report for the Consolidations Ledger and the Accounting Period currently selected.
- The Currency column only displays in the data grid if you have Multi-currency enabled.
The Last Period, Last Run, Status, and Generated By columns will be blank until you run a Consolidations routine. The Last Period and Last Run information will be updated each time you run the routine.
Note: The run routine can only be performed from a Consolidations Ledger. Additionally, once the routine completes, the Last Period, Last Run, Status, and Generated By columns will only be populated for Consolidations Ledgers.
- The Last Period column on the data grid is populated with the selected last period for running the Consolidations routine.
- The Last Run column populates with the date and time for a completed run routine.
Once the Run button is clicked to run the routine, the Status column can include one of the following:
- In Progress - initial status that displays when you run the routine.
- Completed - the run routine was successful. The Last Period and Last Run columns will be updated with the completed information.
Failed - if the process failed to complete, this status will display. Depending upon where the failure occurred, such as on a lower level in the Ledger Hierarchy, the top level and/or other lower levels of the hierarchy may display with a status of Not Run.
The Automated Job Results and the Automated Job Results Dashboard on the Accounting Dashboard can be reviewed to see jobs that were processed successfully, as well as failed jobs. For additional information refer to the Automated Job Results and the Management Reports and Dashboards articles. If the run routine fails, a task will be created for the user who started the routine. A Consolidations Routine Exception Report is also created if the routine fails. For information about this report, refer to the Review an Automated Job Results Exception Report article.
- Not Run - if the process fails on a level that prevents additional levels in the Ledger Hierarchy from completing, this status will display on levels that have not started because the remaining level(s) cannot start due to the failure. For example, if a child Ledger failed to complete the run routine, the Consolidations Ledger at the topmost level might display with the status of “Not Run” because this cannot be completed due to the failed child Ledger.
- The Run Consolidations routine can only be run on a closed or archived Accounting Period.
- An Accounting Period open, closed, or archived job cannot be running at the same time the Run Consolidations routine is running.
- When an Accounting Period is opened, any Consolidations Financial Cubes created for the selected period will be removed from the cubes. Once the period is re-closed, re-run the routine to recreate the Consolidations Financial Cubes for that period.
- Only one Run Consolidations routine can run at the same time. A warning message displays if you attempt to run another routine while one is already in progress.
The Run Consolidations routine includes the following processes on a Ledger Hierarchy:
- Based upon the run option selected, the run routine will determine the lowest level of the Ledger Hierarchy required to consolidate.
- Each time the routine starts to run, pre-existing Consolidations Financial Cubes will automatically be removed for the selected Accounting Period.
- Aggregates Financial Cubes of the Transactional Ledgers, the Eliminations Ledger, and Budget Ledgers by GL Accounts.
- Creates Consolidations Financial Cubes for the selected Accounting Period for the parent Consolidations Ledger.
Best Practice: The Run Consolidations routine should be performed after all required records are posted.
Since a company can accumulate a lot of Accounting data in the Detailed General Ledger, Accounting Seed summarized this data into a table called Financial Cubes so that financial reports can run much faster. The Financial Cubes data for Transactional Ledgers is created as part of the normal closing of an Accounting Period routine. Additionally, if you are using Consolidations Ledger and have transactions posted to an Eliminations Ledger, Financial Cubes will be created for the Eliminations Ledger as part of the existing Accounting Period close routine.
Financial Cubes data for Transactional Ledgers and Eliminations Ledgers will roll up into Consolidations Financial Cubes as part of the Run Consolidations routine. A Consolidations Financial Cubes list view is now available to view information related specifically to Consolidations. The Financial Cubes screen can be accessed from the App Launcher by entering “Financial Cubes” in the search textbox, and then selecting “Financial Cubes.”
Once the Financial Cubes screen displays, select a list view other than recently viewed, such as “Consolidations,” to view Financial Cubes data only for Consolidations. The data in the Consolidations Financial Cubes will be available for running financial reports using Consolidation Ledgers. Additionally, financial reports can also be run on Eliminations Ledgers.
Note: Each time that you re-run Consolidations for an Accounting Period, all existing Consolidated records for that period will be deleted from the Financial Cubes and new records will be created.
After you have Set up Consolidations, use the steps below to Run Consolidations.
- Navigate to Accounting Home and click the Run Reports tab. Then, under the Consolidations menu, click Run Consolidations.
- (Optional) To view all of the existing Ledger Hierarchy tree(s), click Expand All.
- Click the down arrow to the right of the Consolidations Ledger to run the routine. Then, select one of the following options:
- Run for Parent Consolidations - the run routine will consolidate Financial Cubes only on the immediate children of the selected topmost level in the Ledger Hierarchy.
Run Parent Consolidations with Children - the run routine will consolidate Financial Cubes for all levels in a Ledger Hierarchy. The run routine will start at the lowest level of the hierarchy (children) and run each lower level, working up to the highest level in the Ledger Hierarchy.
Note: Click here to view the above image in full screen.
Click the Lookup icon to search for and select the Accounting Period.
- The Accounting Period defaults to the last closed period. If you want to change this to a different period, click the X. Then, search for and select a different Accounting Period.
Click Run. After clicking Run, if at any time you want to refresh the page, click Refresh.
Note: If Foreign Currency Translation is required, it will automatically run as a part of the Run Consolidations routine.
A message will initially display to indicate that the Consolidations routine is running for the selected Consolidations Ledger in the hierarchy. The initial status displays as “In Progress.” When the routine successfully completes, the status changes to “Completed.” Additionally, the Last Period and Last Run columns will be updated on the Consolidations Ledger(s).
Note: If the "In Progress" status remains for an excessively long time (much longer than normal), please contact our Customer Support to check the status, which may require resetting.
Summer ’22 Release
- With the Summer '22 release, if Foreign Currency Translation is required, it will automatically run as a part of the Run Consolidations routine.