Financial Consolidation is a rule-based tool for statutory and management consolidation. The rule-based approach offers a higher degree of flexibility compared to previous SAP consolidation tools. The consolidation process runs completely autonomously and can be annotated.
The tool offers the complete functionality of a consolidation system: financial reporting data, validations, currency conversion, statutory consolidation and reporting of consolidated financial data. The Packagemanager and an associated report allow easy tracking of the delivery process. A separation into distinctive data pools allows for an easy consolidation by different accounting standards or planning requirements. Minimal time and effort has to be expended to calculate various consolidation scenarios wholly. A complete audit trail is ensured through Audit-IDs, so you can easily track data delivery and calculation.
Reconciliation of intercompany transactions is an inherent feature. A more detailed reconciliation on the invoice level is available through SAP BusinessObjects Intercompany, a web based, interactive software.
SAP offers a Starter kit that encompasses predefined rules, making it easier to develop your own rules and keeping the implementation cycle short. The tool can be used without the need to install further SAP software and can be maintained by specialists within your department without calling in external consultants.