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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

The Version Hierarchy

The version drop-down helps you understand how the versions roll up to actuals. 

Actuals Version Hierarchy.png

Actuals two sub-versions: Pre-Elimination, and Eliminations. Pre-Elimination has three sub-versions. 

The Values in Versions

1 The root actuals displays the sum of all the subversions. 

2 The cells of the Eliminations sub-version are white (editable) because Eliminations has no sub-versions, as shown in hierarchy.

3 The cells of the Pre-Elimination sub-version are gray (read-only) because Pre-Eliminations displays the roll-up values of its sub-versions. 

Actuals Versions rolling up 1.png

 

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

One of the versions that roll up to Pre-Eliminations is a journal entry version, Adjustments JEs  (note the back and forth arrows in the icon). 

Journal Entry version in the version hierarchy.png

Journal entry versions roll up the version hierarchy the same way that standard sub-versions do with some important differences. 

1 As the parent, Pre-Eliminations shows the rollup values, including the adjustments made in the journal entry sub-version.

2 Allocations is an editable version.10,000 has been entered for each product group. 

3 In the Adjustments JE sub-version, adjustments are made to the values through Consolidation > Journal Entries > New. Product Group A was debited $10,000. The corresponding credit was divided between Product Group B and C. The journal entry version shows the adjustments.

 Journal entry rollups.png

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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