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Consolidation company - prior amounts change with re-consolidation

  • 1.  Consolidation company - prior amounts change with re-consolidation

    SILVER CONTRIBUTOR
    Posted 11 days ago
    ​​We re-implemented to NAV 2017 in January 2018 and were excited to learn about setting up Consolidations in NAV, since we have multiple levels of subsidiaries we work with. We have been running financials for years using Jet Reports, so our controller set up the consolidation companies as instructed and directed the Jet Reports to the Consolidation companies. Unfortunately, every time she reconsolidates, the prior amounts change. (For example, she consolidated Dec 2018 for 2018 year-end. When she consolidated Q1 2019, 2018 year-end changed, so her comparative YE balance sheet also changed.)

    The workaround has been to consolidated one piece, run the Jet Report, make a copy of the Jet Report, consolidate the next piece, run the new Jet Report, etc., and cobble the multiple pieces together in order to create comparative financials for Q1 year over year, etc. I can't imagine this is how Consolidations are supposed to work, so we think there must be something wrong with our setup. Has anyone else run into this problem?

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    Tara Langley
    Accounting Manager
    Culver Franchising System, LLC.
    Prairie du Sac WI
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  • 2.  RE: Consolidation company - prior amounts change with re-consolidation

    GOLD CONTRIBUTOR
    Posted 10 days ago
    The NAV Consolidation process creates a single entry for the period that the user specifies to consolidate.  So if you consolidate 12/1/18..12/31/18, it will first check to see if any previous consolidation entries exist for the Bus. Unit being consolidated with a date of 12/31/18 and if one exists, it will reverse it.  Then it will create a new entry for 12/31/18 based on the current data.   In this case, there is no reason any data prior to December would be modified.  So perhaps the issue is one of the following: a customization to the Consolidation functionality, the way the Jet Reports are designed/updated, or the user is consolidating incorrectly).

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    Ken Sebahar
    Solution Systems, Inc.
    ken@solsyst.com
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  • 3.  RE: Consolidation company - prior amounts change with re-consolidation

    SILVER CONTRIBUTOR
    Posted 10 days ago
    Thanks for your reply, Ken. To answer your questions:
    • We have requested no customizations to Consolidations.
    • The Jet Reports match what is coming out of Consolidations, so it's not the reports.
    • Training consisted of blogs, YouTube videos, and a few discussions with our implementation support.
    • The consolidated data for each period is accurate (as far as we can tell) for the companies we are consolidating, but only in the period just consolidated.

    We would expect a re-consolidation of the same period to change based on updating data, but can't figure out why re-consolidating Q2 current year would affect Q2 prior year and Q1 current year, making comparable financials impossible using a single report. Is there a step in the running of the consolidation that is being missed? Here's an example she provided:
    Import Consolidation options


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    Tara Langley
    Accounting Manager
    Culver Franchising System, LLC.
    Prairie du Sac WI
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  • 4.  RE: Consolidation company - prior amounts change with re-consolidation

    NAVUG ALL STAR
    Posted 5 days ago
    @Tara Langley,

    I agree with Ken, it appears the period being used in the option box is what is driving this. NAV does allow you to re-consolidated, but it shouldn't recalculate a prior period unless you select those dates. Rerunning consolidation for prior periods is a great way to correct for post-consolidation entries and the only thing to watch out for there is currency rates need to be updated correctly if using foreign currency.

    Additionally, if it is re-consolidating a prior period, you would see blank entries in the G\L​ for that period, as it first deletes the last consolidation entry and replaces it with new ones. Do you see those blank entries?

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    Amanda Mayer
    New View Strategies
    Milwaukee WI
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  • 5.  RE: Consolidation company - prior amounts change with re-consolidation

    GOLD CONTRIBUTOR
    Posted 5 days ago

    Sounds good.  The only thing I can think of is that you are running the consolidation inconsistently when it comes to the Starting/Ending Date.  You should always consolidate for the same exact period/length.  For example, if you are consolidating period month, you should always set the consolidation period to the first and last day of each month.  Or if you are doing quarterly, it should always be the first day of the quarter and then the last day of the quarter.  (you can't consolidate 6/1/19 – 6/30/19, and then later decide that you want to re-consolidate the second quarter 4/1/19 – 6/30/19).



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    Ken Sebahar
    Solution Systems, Inc.
    ken@solsyst.com
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  • 6.  RE: Consolidation company - prior amounts change with re-consolidation

    SILVER CONTRIBUTOR
    Posted 4 days ago
    @Amanda Mayer and @Ken Sebahar Oh my goodness - I think that's it!​​​ She thought she needed to re-consolidate YTD at the end of every period for balance sheet numbers, not realizing that was wiping out all the quarterly consolidations previously run. When we ran each period individually for 2018 through Q2-2019, the Q2 & year-end totals for assets & net income match our manual calculations. We'll do some further testing, but I'm calling this a win for Collaborate. Thank you so much!

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    Tara Langley
    Accounting Manager
    Culver Franchising System, LLC.
    Prairie du Sac WI
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