Financial Consolidation Business Logic/Workflow

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The Workflow functionality of the Financial Consolidation model can help you organize, coordinate and control the different consolidation tasks. It helps you organize the consolidation process by structuring the work into a sequence of activities and a series of business objects. You can coordinate the work by assigning them to user groups and due dates. Last but not least, you can control the work by informing users, restricting data entry, commenting on the work, changing (and triggering) work states, and monitoring work states. To implement all these, the Workflow functionality offers the following features:

Create and modify a Workflow Task
Configure a Workflow Task, e.g., assigning a Time Dimension element and a Version Dimension element
Assign a Workflow Type to a Workflow Task by defining the activities and their sequence/ control flow
Set up the Step Dimension by defining activity repetition for different business objects of a Workflow Task
Start, pause, stop, and reset a Workflow Task
Automatic email notification on status change
Configure automatic email notification of a Workflow Task, including the use of variables
Set a due date for each activity of a Workflow Task
Assign user group(s) to a (every) Task (= 1 activity for 1 business object) of a Workflow Task
Incorporate automatic data validations into a Workflow Task
Expand the Workflow by assigning a sub-task to a Workflow Task
Assign a report to each activity of a Workflow Task
Lock values, i.e., write protection dependent on activity status and user
Comment on a work
Change the status of a work
Trigger the next work
Report on execution of the works
Provide event history/ change log

The Workflow functionality of the Financial Consolidation model is based on the same components as the Jedox Workflow building block.

Work structure

The organization of the collaborative work that should be guided and monitored with the help of the Workflow functionality is characterized by a matrix that is defined by the activities (of the chosen Workflow Type) and the business objects (defined by the Step Dimension).

Below is an example of the Workflow Task Consolidation Actual 2020-12 (Separate Financial Statement Collection Actual 2020-12) in the sheet Step Dimension Overview of the Workflow Wizard report in the Financial Consolidation model.

Key users and end users

In the context of the Workflow functionality, there are two kinds of users: key users and end users.

End user

An email is sent to an end user when the execution of a work assigned to their user group can be started.

The execution of the work typically consists of:

Entering, modifying and/or reviewing (including approving or rejecting) values for a specific business object (in the context of consolidation, e. g., a scope of consolidation or a legal entity)
Commenting on the work execution
Changing the status of the work. Note that the change in the status triggers a next task or, if there is no subsequent task, it marks the completion of all works for that business object.

Key user

A key user defines the Workflow Task and can also assign the resulting works to the end users via the corresponding user groups. Once this configuration is done, the key user can start the Workflow Task, which triggers the first activity for each business object. The end users typically follow the Workflow Task, but it can also be paused, stopped, or reset by the key user. The key user always guides and controls the data modification, therefore, can ensure process control and data integrity.

Note that a Workflow key user can also be an end user when they execute Tasks assigned to themselves in their user group.

Workflow functionality process

The process of the Workflow functionality is as follows:

The key user sets up the Workflow Task(s).
The key user starts and monitors the Workflow Task(s).
The end users follow the Workflow, execute the assigned work by using Workflow aware reports, modify and/ or review values, comment on them, and change the status to proceed to the next activity.

Sample Data Workflow Tasks

There are 2 Workflow Tasks in the sample data of the Financial Consolidation model:

Consolidation Actual 2020-12
Separate Financial Statement Collection Actual 2020-12.

The first Task Consolidation Actual 2020-12 is an instance of Workflow Type WF_Consolidation_Activities which repeats the defined activities for every scope of consolidation with actual figures for 2020 by configuring:

Step Dimension Scope. This means all activities of the consolidation workflow of this Workflow Type are repeated for each scope of consolidation, meaning every element of the dimension Scope that represents a scope of consolidation is effected.
Element 2020-12_YTD of the Time Dimension Month_YTD
Element Actual of the Version Dimension

The second Task is a subtask of the first Task. The second Task Separate Financial Statement Collection Actual 2020-12 is in instance of Workflow Type WF_Separate_Financial_Stmnt_Collection_Activities which repeats the defined activities for each legal entity with actual figures for 2020 by configuring:

Step Dimension Legal Entity. This means all activities of the consolidation workflow of this Workflow Type are repeated for each legal entity of the corresponding scope of consolidation
Element 2020-12_YTD of the Time Dimension Month_YTD
Element Actual of the Version Dimension Version

As this Workflow Task is a subtask of Consolidation Actual 2020-12, it is repeated for every scope of consolidation. This means the first Task iterates the defined (consolidation) activities for each scope of consolidation. The second Task, as a subtask, is an activity/ step of the first Task, meaning iterates for each scope of consolidation and on each data collection activity of the subtask for each legal entity.

Updated April 9, 2025