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[Amy Akley]

We are in the process of upgrading to D365 from DAX 2012. We do not currently run the consolidation process in DAX 2012. I am considering running it in D365 but am wondering how others on D365 are handling the opening balances? Consolidating in MR is not an option.

Thanks,

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Amy Akley
Sr. Financial System Analyst
XTRA Lease
Saint Louis MO
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[Brad Bertchie]

Amy;

Since you’re not able to make an actual journal entry in a Consolidation company, you’ll need to run consolidations from the earliest point in time of your data. 

Depending on your need, instead of running monthly, you can run for the entire year at once until let’s say you get to the prior year, then start running that monthly, etc.

If I may ask, why do you consider MR a non-option?  Also, how are you consolidating today?

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Brad Bertchie
Senior Consultant
Western Computer
Oxnard CA
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[Murugan Kumar]

Amy,  I am reluctant to advice without knowing the full details.  You can use an elimination company to load the opening balances.  While it is true you can create JE in the consolidation company you can do so in elimination company.  Perhaps that could be an option.

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Murugan Kumar
Avanade
Seattle WA
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[Shilpi Thakur]

Consolidation can be handled in D365 FO in different way based on your requirements but somethings to note are as follows:

• Consolidate online can be considered to consolidate daily balances by selected accounts and dimensions and store in consolidated company.
• You can export the company balances and use consolidate with import option to import balances into a consolidation company, depending how you want to handle consolidations setup in your companies and other subsidiaries.
• Currency revaluations, when you consolidate data from one accounting currency to another you still have to run the revaluation if there are changes in exchange rates so that the account balances are correctly revalued.
• To see the opening balances you still might have to run a year-end close in the consolidation company.

There are benefits of using Financial Reporting in D365 for consolidations listed below, which might help you to reconsider your option of not using reporting for consolidations:

• Consolidate transactions and balances from multiple companies during report generation and the report can be run at any time.
• Ability to drill down to all companies and dimensions level [depending on your organization and account structures in D365 FO.

This choice again depends on need of your customer including how you are setting up the chart of account structure and auditors requirements.

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Shilpi Thakur
Freelance AX/D365 Microsoft Consultant
Dynact Consulting Ltd
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[Amy Akley]

Can I run a year-end close on a Consolidation or Elimination company? I’ve never tried that. Has anyone else?

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Amy Akley
Sr. Financial System Analyst
XTRA Lease
Saint Louis MO
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