Getting Started with the Financial Consolidation Model
Return to the Financial Consolidation Model Overview.
To get familiar with the Financial Consolidation model you can install it with a sample configuration which 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 how to configure 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 the model and populate it with your company's data.
The steps below explain how to configure the model and populate it with your own data.
Note that the instructions below are based on using an Excel workbook to collect relevant data and figures into worksheets and uploading them into the Jedox database. Jedox offers you in a variety of ways to achieve the same goal, e.g. editing elements manually in the Modeler, defining a job in the Integrator to connect to your ERP. In the context of this article, we'll stick to using the Excel workbook - feel free to use the most appropriate method for your needs.
The Financial Consolidation model comes with an Excel Workbook containing a sample configuration as well as sample data. You will find this in Jedox Web > Report Designer > Models
>Financial Consolidation/Files/Sample Data/Financial Consolidation sample data (IFRS)
. Save a copy of this workbook (using Export from the context menu) locally, edit it to replace the sample configuration and data with your own.
You can configure dimensions, as well as cubes by uploading your modified Excel workbook into the model you're working with via the steps below:
- Open Modeler > [Database Name] > Dimensions or Cubes > [Dimension's or Cube's name] and choose
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 essential steps below for configuring the model and modifying individual worksheets in the Excel workbook:
1. Set Up Model | Install the model without sample data. For directions, see Setting Up the Financial Consolidation Model. |
2. Set Up Languages |
Note that updating the model does not affect newly added languages, but it resets all other language settings and restores any previously deleted languages. |
3. Set Up Scope of Consolidation |
Legal Entity is a required dimension for the presentation of reports; it identifies a company or a group of companies within a report. You can edit it within the |
4. Adjust 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. Maintain Versions |
The elements in the Version dimension helps you to compare figures for reporting and planning. You can modify forecasts and other versions. |
6. Uploading Chart of Accounts |
You can upload a chart of accounts from any dimension involved in cash transaction. These may be the |
7. Set Up Currency Conversion |
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8. Set Up Consolidation Rules |
You must set up the consolidation rules according to the chart of accounts attributes in the |
9. Add Logo |
Replace the Jedox logo within the web reports to your company logo. See Configuring Design Elements. |
10. Change Cell Styles |
Modify the default cell styles within the web reports to your company style. See Configuring Design Elements. |
At this point basic configuration is 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 the existing plans, use You can also use the interface to import manual journal entries into the posting journal. |
You can bring the closing balances of the prior reporting period forward as opening balances of the current reporting period. You can do this in the Data Manager report. |
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13. Import Figures |
You can import figures for any version (actual, budget, etc.) on a monthly basis by using |
14. Review Imported Figures |
Once you've imported your figures, multiple currencies may be required within the system before reviewing them. Access the Import Exchange Rates form within the Exchange Rates input screen to import the exchange rates into the system. You may use the trial balance report, as well as your separate (sep.) financial statement reports, to review the figures. |
15. Run Consolidation |
To run financial consolidation, go to the Consolidation Manager report. |
16. Review Consolidation |
You can review the results through the created automated journal entries which are shown in the Consolidation Manager report. You may also use the Cons. Financial Statement report, as well as the following Cons. reports (Cons. Profit and Loss, Consolidated Financial Statement Report). |
Updated April 11, 2024