Performing Financial Consolidations and Eliminations in Dynamics 365 Finance
Question
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A client has multiple legal entities set up in Dynamics 365 Finance.
All companies and data reside in Dynamics 365 Finance.
The client currently uses a separate reporting tool to perform their financial consolidation and eliminations.
They want to use Dynamics 365 Finance instead.
You need to configure the system and correctly perform eliminations.
Solution: Select Consolidate online in Dynamics 365 Finance.
Include eliminations during the process or as a proposal.
Set up the transactions to post in the legal entity configured for consolidations.
Does the solution meet the goal?
Answers
Explanations
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A. B.B.
References: https://docs.microsoft.com/en-us/dynamics365/unified-operations/financials/budgeting/consolidation-elimination-overview.
The given solution appears to meet the stated goal of configuring the system and performing eliminations in Dynamics 365 Finance. Let's break down each component of the solution and discuss its significance:
Select Consolidate online in Dynamics 365 Finance: Consolidate online is a feature in Dynamics 365 Finance that allows you to consolidate financial data across multiple legal entities in real-time. This feature creates a consolidated company in Dynamics 365 Finance and consolidates financial data across legal entities as part of the consolidation process.
Include eliminations during the process or as a proposal: During the consolidation process, the system needs to perform eliminations to remove any intercompany transactions or balances that may exist between the legal entities. Eliminations can be performed automatically as part of the consolidation process or proposed for review before posting.
Set up the transactions to post in the legal entity configured for consolidations: To ensure that the consolidation process runs smoothly, you need to set up the transactions to post in the legal entity that has been configured for consolidations. This will ensure that the data is correctly aggregated and consolidated in the desired legal entity.
In conclusion, the given solution appears to meet the stated goal of configuring the system and performing eliminations in Dynamics 365 Finance. Therefore, the answer is A. Yes. However, it is important to note that there may be multiple correct solutions to this scenario, and the given solution may not be the only viable option.
