A version is a collection of accounts, levels, and other data that represents a particular financial scenario. For example, a version can include current-year actuals, a budget for next year, a three-year plan, and a what-if plan for evaluating the effects of a business transaction.
There are two types of versions: actuals versions and planning versions. Actuals versions contain your actual financial results for a given period of time, like your income or expenses from May 2014. Actuals are records of things that happened. Planning versions are about possible things in the future. Planning versions may be budgets, what-if scenarios, or almost anything else you can imagine. If you have Adaptive Consolidation, you can partition actuals data to separate out journal entries or other scenarios.
You can compare versions to each other. For example, you may create a report that compares your actuals version data for one month to the planning version for that month’s budget to see how the numbers match up. However, you cannot refer to one planning version from another. Planning versions are independent of each other.
You can store versions to keep records for the company. Most companies use versions which cover one calendar or financial year. The structure of your accounts, organization, dimensions, and other hierarchies and tags generally stays the same between versions, but the data is different.
If you have Adaptive Consolidation, you can use different actuals sub-versions for journal entries, eliminations, and related processes.
When you are using Adaptive products, you select which version to view using the version selector in the upper right of many screens.
You can create new versions and edit or delete existing versions on the Add, Edit, or Delete Versions screen. You can access this screen by visiting Modeling > Model Management and clicking Versions. With Adaptive Consolidation, multiple actuals sub-versions can be created to partition the actuals into separate "layers" that, when rolled up, comprise the total actuals for the company.
A planning version represents a particular planning scenario. Different planning versions can be created for different purposes. Some examples of a planning version include a budget for 2015, the 2016 three-year plan, and a what-if plan for evaluating the effects of a business transaction. The administrator creates different plan versions, and determines which version is the default version.
You can organize your versions into folders in the version list. Click New Folder and fill out the Version Details section of the screen to set the folder's information. The fields are described below.
To add a version to a folder, or move it from one folder to another, drag and drop the version in the version list.
The version tree is a list of all the versions in your instance, along with their sub-versions (if any) and descriptions. Planning versions can be sorted into folders, which makes it possible to organize and manage user access to a large number of versions at once. Expand or collapse the contents of folders and parent versions by clicking the small arrows next to their names.
The Version Details area is where information for new versions is entered and where you make changes to existing versions.
To view the details for a particular version, click its name in the version tree. The Version Details area is populated with the details for that version.
The toolbar at the top include following options:
Create New Actuals Sub-Version: Creates a new actuals version as a sub-version of the highlighted actuals version
Create New Journal Entries Sub-Version: Creates a new journal entries version as a sub-version of the highlighted version
Create Virtual Version: Creates a new virtual version within the plan folder you selected.
Create New Folder: Creates a new folder, into which versions can be dragged and dropped
Create New Plan Version: Creates a new plan version as a copy of the highlighted version
Printable View: Generates a Microsoft ExcelTM spreadsheet of the version list
Export Version Access: Generates an Excel spreadsheet detailing which users have which types of access to each version
Delete Version: Delete the highlighted version
Save: Save edits to the Version Details fields
Cancel: Discard edits to the Version Details fields