Sometimes, different companies will be using different fiscal calendars, but you may still want to create consolidated financial statements for these companies. This blog (3rd in a series of 7), will show you how to create consolidated reports with varying fiscal calendars. .
The high level steps to consolidating when different fiscal periods exist are:
The important thing to consider when designing the column definition for multiple companies with differing fiscal periods is what company will be assigned in the report definition. This is the company that you will use as the base fiscal calendar for any report definitions.
The following table describes the fiscal setup for companies CEU and CEE. Assuming CEU uses the fiscal calendar that you prefer to use for consolidated reports, if a report is desired for June 30, 2008, the mapping column shows the equivalent period and year for each company.
Fiscal Year, July 1 – June 30
Period 12, Fiscal Year 2008
Calendar Year, January 1 – December 31
Period 6, Fiscal Year 2008
If the Report Definition has CEU defined as the company, then Base-6 would be appropriate for the Period in the column definition for CEE. CEU will use the Base period, which is Period 12 based upon the report definition and CEE will use Base – 6, which is Period 6. Both columns will include data for June 2008.
Although this does work, there is no information shown for either the YTD column for these companies, or how this works without requiring the customer to manually maintain the columns every month. I have a company with 18 companies that have a total of 6 different fiscal year ends. When I asked, pre-sales, whether Management Reporter would handle this for them, I was told an enthusastic "yes"! If the customer has to manually manipulate somewhere around 15 different columns, multipled by the number of column layouts they have, then I would say this is a bit "NO"! I have been told by more than one support engineer that Mgt Reporter 2012 will "fix" this, and have had it referred to as a "bug" (and have Microsoft case notes to prove it). Is any of this true? I have a pretty irate customer who has had to have me come in for a half day of chargeable time because one of his companies just moved into a new fiscal year. I do not plan to have to go out there every time this happens, can you please tell me when this will be fixed?