Consolidating Reports for Financial-Consolidation Reporting
Question
You are working as a functional consultant in a new Dynamics 365 Finance environment.
Your organization conducts business within the United States, with offices in several states.
The organization has legal entities defined for each state and must share common tables between entities.
Each legal entity has the following setup: -> Users -> Products -> Customers -> Tax authorities -> Payment terms -> Human Resources data -> Site-specific stock ordering You need to consolidate reports used for financial-consolidation reporting in a new legal entity.
What should you do?
Answers
Explanations
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A. B. C. D.A.
To consolidate reports used for financial-consolidation reporting in a new legal entity, you need to perform several tasks.
Firstly, you need to set up the legal entities for each state where the organization conducts business. Each legal entity should have the same set of common tables, including Users, Products, Customers, Tax authorities, Payment terms, Human Resources data, and Site-specific stock ordering.
Next, you need to define the consolidation period, which is the timeframe for consolidating financial data across multiple legal entities. This period could be monthly, quarterly, or annually, depending on the organization's reporting requirements.
After defining the consolidation period, you can specify the range of products for consolidation. This means identifying the products or services that are included in the consolidated financial reports.
It is not necessary to define Human Resources data or create users to consolidate reports used for financial-consolidation reporting in a new legal entity. These tasks are important for managing users and employee data, but they are not directly related to financial consolidation.
In summary, the correct answer is A. Define the consolidation period.
