Getting Started with the Financial Consolidation Model
Return to the Financial Consolidation Model Overview.
To familiarize yourself with the Financial Consolidation model, you can install it with a sample configuration that includes sample data. Please note that you need to install the Jedox platform and the Demo content before installing models with sample data. You can find directions on configuring the model with sample data in Setting Up the Financial Consolidation Model. The model can also be set up without sample data. Follow the steps below to configure and populate the model with your company's data.
The following instructions focus on using an Excel workbook to compile relevant data and figures into worksheets, which will then be uploaded to the Jedox database. Although Jedox offers multiple methods to achieve this—such as manually editing elements in the Modeler or creating a job in the Integrator to connect to your ERP—this guide specifically covers the Excel workbook method. However, feel free to choose the approach that best fits your needs.
The Financial Consolidation model includes an Excel Workbook that provides a sample configuration and data set. You can access this file through Jedox Web by navigating to Designer > Models > Financial Consolidation > Files > Sample Data > Financial Consolidation Sample Data (IFRS)
. To customize this workbook with your own configuration and data, first save a local copy by selecting "Export" from the context menu, then proceed to modify it accordingly.
To configure dimensions and cubes, upload your modified Excel workbook into the model using the following steps:
- Open the Modeler and navigate to [Database Name] > Dimensions or Cubes. Right-click on the specific Dimension or Cube name, and select
Upload file
from the context menu. - The Dimension/Cube Upload Wizard opens and guides you through the steps.
- Select the modified copy of the workbook from your local file system. For details, see Uploading and Downloading Dimensions and Cubes.
Use the steps below to configure the model and modify individual worksheets in the Excel workbook:
1. Setting up the Model | Install the model without sample data. For detailed instructions, see Setting Up Financial Consolidation Model. |
2. Setting up languages |
Note that updating the model does not impact newly added languages. However, it will reset all existing language settings and restore any languages that were previously deleted. |
3. Setting up the Scope of Consolidation |
The Legal Entity dimension is essential for generating accurate reports, as it identifies a company or group of companies within the report. You can modify this dimension in the |
4. Adjusting the time span |
The time span of the model can be adjusted to fit your organization's historical data and planning horizon in the Time Editor tab of the Month_YTD and Day dimension. |
5. Maintaining Versions |
The elements in the Version dimension helps you to compare figures for reporting and planning. You can also adjust forecasts and other versions as needed. |
6. Uploading chart of accounts |
You can upload a chart of accounts from any dimension involved in cash transactions, such as the |
7. Setting up the currency conversion |
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8. Setting up the consolidation rules |
You must set up the consolidation rules according to the attributes of the chart of accounts in the |
9. Adding logo |
You can replace the Jedox logo in the web reports with your company's logo. See Configuring Design Elements. |
10. Changing cell styles |
You can customize the default cell styles in the web reports to align with your company's branding. See Configuring Design Elements. |
The basic configuration is now complete! Follow the steps below to use the models:
11. Initial Data Import |
To import separate financial statements (e.g., historical data up to the most recent month) and existing plans, use the You can also use the interface to manually import journal entries into the posting journal. |
You can bring the closing balances of the prior reporting period forward as the opening balances of the current reporting period. You can do this in the Data Manager report by entering manual journal entries into the posting journal. |
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13. Importing Figures |
You can import figures for any version (actual, budget, etc.) on a monthly basis by using the |
14. Reviewing Imported Figures |
After importing your figures, you may need to add multiple currencies into the system before reviewing them. To do this, access the Import Exchange Rates form within the Exchange Rates input screen to upload the exchange rates. You can then use the trial balance report and your separate (sep.) financial statement reports to review the figures. |
15. Running Consolidation |
See the Consolidation Manager report for running the financial consolidation. |
16. Review Consolidation |
You can review the results through the automated journal entries displayed in the Consolidation Manager report. Additionally, you may use the Consolidated Financial Statement report, as well as the following reports: Consolidated Profit and Loss and Consolidated Financial Statement. |
Updated September 27, 2024