Steps: Set Up Alternate Fiscal Year Consolidations

Review setup considerations for consolidations and eliminations.

Create a company hierarchy that includes all companies that are part of the consolidation.

Ensure you’ve recorded the Primary Fiscal Schedule opening balances using the Journal Enterprise Interface Builder (EIB).

Security:

Set Up: Consolidation
domain in the Financial Accounting functional area.

Set Up: Financial Accounting
domain in the Common Financial Management functional area.

Workday enables you to create consolidated financial statements for companies with different fiscal schedules. When you want to roll up companies with alternate fiscal schedules into a hierarchy, each company in the hierarchy must share either:

The same primary fiscal schedule. For a consolidation with equity pickup or noncontrolling interest, companies must share the same primary fiscal schedule for the tasks to run.

The same alternate fiscal schedule.

Also ensure:

You create an alternate fiscal schedule for all years that have data.

You roll forward the alternate fiscal year for each year that has data.

Create a separate hierarchy if you want to report consolidation results for the alternate fiscal schedule.

Consolidate companies in the hierarchy to eliminate:

Intercompany.

Equity pickup.

Noncontrolling interest (NCI).

See Steps: Set Up Consolidations.

Associate 1 or more alternate fiscal schedules with each company in the hierarchy.

See Assign Company Accounting Details.

Access the

Edit Consolidation Details

task and enter a standard or alternate fiscal year to define the consolidation fiscal schedule for the company hierarchy.

Roll forward year-end balances and translated beginning balances for all companies in the hierarchy at the end of their fiscal years.