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Consolidation Versions

Besides actuals and plan versions, instances that use Consolidation often use special versions to help them manage and analyze the complexities of their data. These include sub-versions, journal entry versions, and virtual versions. Each serves a purpose for Consolidation.  

See Create Versions. 

Sub-versions

Sub-versions are slices of your actuals, created under an existing actuals version in the version tree. The data of each sub-version rolls up to the data displayed in actuals; that is, data is not duplicated. You can have any number of sub-versions under actuals, and sub-versions can also have sub-versions.  Create actuals sub-versions to organize and filter your actuals in different ways.

Roll-Up Values and Editable Versions with Sub-versions

1 Actuals in the version drop-down has three sub-versions: Pre-Elimination, Adjustments JE and Audit Adjustments. Pre-Elimination and Audit Adjustments also have sub-versions. 

2 The cells of Pre-Elimination version are gray (read-only) because Pre-Eliminations displays the roll-up values of its sub-versions. Data entered in Pre-Elimination is a portion of the total roll-up value displayed in Actuals 4.

3 The cells of Eliminations version are white (editable) because Eliminations has no sub-versions, as shown in 1.The data in Eliminations also contributes to the data in Actuals.

4 Actuals is the sum of the data in its sub-versions.

Journal Entry Versions

Journal entry versions are a type of sub-version that allows consolidation instances to maintain the integrity of their imported actuals. Instead of changing the data, you create journal entries that adjust the data. These adjustments must be balanced, meaning that the sum of all debits in an adjustment must be equal to the sum of all credits before the journal entry can be posted. Create multiple journal entry versions for IFRS to GAAP, Accruals, and reclassifications.

Roll-Up Values with Journal Entries

Pre-Eliminations has three sub-versions: From General Ledger, Adjustment JEs and Allocations. Adjustments JEs is a journal entry version (note the back and forth arrows in the icon). 

Journal entry versions roll up to root actuals the same way that standard sub-versions do with some important differences.

1 Allocations is a sub-version of Pre-Eliminations. Because it has no sub-versions, it is an editable version. 10,000 has been entered for each product group. 

2 Adjustments JE is a journal entry sub-version. It's cells are not editable, but adjustments are made through Consolidation > Journal Entries > New. Product Group A was debited $10,000. The corresponding credit was divided between Product Group B and C.

3 Pre-Eliminations shows the roll-up value of both sub-versions. The totals reflect in the parent version, but the nature of the adjustments displays in the journal entry version. 

Virtual Versions

Virtual versions are plan versions that use data from two different versions to create a read-only composite version.  With virtual versions, you can use the data of one version and apply the exchange rate of another version, which removes the rate fluctuations.  Create virtual versions to enable Constant Currency Reporting.

A virtual version removes exchange rate fluctuations from variance reports

Now, the revenue comparison between the two data sets will only show "real" differences because the exchange rate is kept constant. See Constant Currency Reporting.

 

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