Essence Consolidation

The Essence Consolidation extension on Microsoft Dynamics 365 BC helps you to manage Finances and Accounting simply and transparently.

Would you like to have data of the whole group in one place?

Do you intend to consolidate in real time?

Do you manage companies in different currencies?

Does your company have a branched structure of ownership?

The Essence Consolidation extension solves all this issues and even more.

Main Features of Essence Consolidation:

1. Entries are consolidated 1:1 – all accounting entries in the general ledger of the source company are transferred to the consolidation company, preserving information about the source company number, number of the original document, posting date, description and other data that allow to identify the accounting transaction in the source company and to find the document easily.
2. Gradual transfer – accounting entries of the source company can be transferred to the consolidation company gradually, already transferred entries can be deleted and transferred again. Thus, the status can be monitored in real time.
3. Elimination of mutual relationships - entries related to companies in the group need to be mutually eliminated in order not to distort the results of the entire group.
4. Multi-level consolidation - for companies with a branched structure of ownership rights and property holdings in other companies, where, for example, the parent company owns a subsidiary with property holdings in other companies, consolidation is possible at multiple levels.
5. Ownership shares over time - the ownership structure of companies may change during the consolidation period. The module allows all changes to be considered. G/L entries of the source company are consolidated directly in the amount of the corresponding ownership share valid on the posting date of the given item.
6. Consolidation according to IAAS and US GAAP
7. Companies in foreign currencies - Foreign branches can be consolidated as needed according to the chosen currency and the entered consolidation rate. It is possible to apply both historical exchange rate and fixed exchange rate.

Supported editions:

The app supports the Essentials and Premium Editions of Microsoft Dynamics 365 Business Central.

Supported countries:

Czechia.

Supported languages:

This app is available in Czech and English (United States).