Learn how to use Microsoft Dynamics 365 Business Central’s consolidation functionality to combine financial results across multiple subsidiary legal entities. Discover the best practices for setting up subsidiaries, generating closing transactions, and ensuring accurate consolidation.
Table of Contents
Question
Your company uses Microsoft Dynamics 365 Business Central and has multiple subsidiary legal entities in different databases.
You need to combine the financial results for all subsidiary legal entities into results for a single, consolidated organization.
What should you do? Each correct answer presents part of the solution. Choose 3.
A. Create a new legal entity that combines all subsidiaries.
B. Use the consolidation functionality in General Ledger.
C. Ensure each subsidiary legal entity is set up in the system.
D. Manually calculate and enter the combined financial results.
E. Generate closing transactions at the end of a fiscal year for each subsidiary legal entity.
F. Export the financial results of each subsidiary to Excel and combine them there.
Answer
B. Use the consolidation functionality in General Ledger.
C. Ensure each subsidiary legal entity is set up in the system.
E. Generate closing transactions at the end of a fiscal year for each subsidiary legal entity.
Explanation
The consolidation functionality in General Ledger allows you to combine the financial results for several subsidiary legal entities into a single, consolidated organization. Each subsidiary legal entity must be set up in the system for this to work. Generating closing transactions at the end of a fiscal year is necessary to prepare the accounts for the next fiscal year. Creating a new legal entity, manually calculating and entering the combined results, or exporting the results to Excel are not efficient or practical solutions.
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