Creating and Configuring Consolidation Wizards

Getting Started

Global Functions

Lucanet Lume

Data Hub

Administration

Extended Planning & Analysis (xP&A)

Consolidation & Financial Planning

User Interface of Lucanet Consolidation & Financial Planning

General Functions

Basic Configuration

Dashboards

Reporting & Analyzing

Import and Journals

Planning

Consolidation

Consolidation 1

All Steps at a Glance

Creating and Configuring Consolidation Areas

Creating and Editing Configurations

Creating and Configuring Consolidation Wizards

Wizard for Paired Elimination of Intercompany Debt

Wizard for Lump Sum Elimination of Intercompany Debt

Wizard for Paired Elimination of Intercompany Income and Expense

Wizard for Lump Sum Elimination of Intercompany Income and Expense

Wizard for Elimination of Intercompany Income and Expense Based on Group-internal Revenue

Wizard for Inventory Consolidation

Automatic Cancellation in the First Planning Month

Consolidation 2

Dimensions

Excel-Integration

Workspace Configuration

ESG Reporting

Disclosure Management

XBRL Tagger

Lease Accounting

Banking & Cash Management

Data Collection

Tax Compliance & Reporting

Glossary

In Lucanet, it is possible to perform the elimination of intercompany debt, elimination of intercompany income and expense, and inventory consolidation in connection with the elimination of intercompany profit or loss by means of consolidation wizards. The wizards are executed on the basis of the configurations created in the Consolidation areas workspace (see Creating and Editing Configurations).

To create a consolidation wizard:

Choose one of the following options:

Open the

journal

for the desired

data level

and

consolidation area

and select

Create

from the context menu of a folder:

Open a

ledger

for the desired

data level

and

consolidation area

, right-click in the row of the ledger hierarchy for which the wizard should be created and choose

Create

In the

Show postings

dialog, click

Create posting

Choose the desired consolidation wizard from the Create menu.

The Create Consolidation Wizard dialog is displayed as follows, for example:

In the Period drop-down list, specify the period to be taken into account for the consolidation.

Choose the desired configuration in the Configuration drop-down list.

Click Continue.

Configure the selected wizard (see section Configuring Consolidation Wizards) and then save the wizard.

The following consolidation wizards are available:

Element	Description
Paired elimination of intercompany debt	The Paired elimination of intercompany debt wizard enables the wizard-assisted elimination of debts and receivables between affiliated companies. Pair combinations of accounts are formed between reporting entities or cost centers based on settings previously made (see Wizard for Paired Elimination of Intercompany Debt).
Lump sum elimination of intercompany debt	The Lump sum elimination of intercompany debt wizard allows you to perform a wizard-assisted elimination of debts and receivables between affiliated companies. This involves offsetting accounts previously defined in the Consolidation areas workspace against one another on a lump sum basis (see Wizard for Lump Sum Elimination of Intercompany Debt).
Paired elimination of intercompany income and expense	The Paired elimination of intercompany income and expense wizard enables the wizard-assisted elimination of expenses and income between affiliated companies. Pair combinations of accounts between reporting entities or cost centers are formed based on settings previously made (see Wizard for Paired Elimination of Intercompany Income and Expense).
Lump sum elimination of intercompany income and expense	The Lump sum elimination of intercompany income and expense wizard enables the wizard-assisted elimination of expenses and income between affiliated companies. This involves offsetting accounts previously defined in the Consolidation areas workspace against one another on a lump sum basis (see Wizard for Lump Sum Elimination of Intercompany Income and Expense).
Elimination of intercompany income and expense based on group-internal revenue	The Elimination of intercompany income and expense based on group-internal revenue wizard enables the wizard-assisted elimination of expenses and income between affiliated companies. In this case, (revenue) accounts previously defined in the Consolidation areas workspace are offset with one or more expense accounts with allocation of a percentage (see Wizard for Elimination of Intercompany Income and Expense Based on Group-internal Revenue).
Inventory consolidation	The Inventory consolidation wizard enables the wizard-assisted elimination of intercompany profit or loss contained in stock (inventory) between affiliated companies. Intercompany relationships are formed between reporting entities based on settings previously made in the Consolidation areas workspace (see Wizard for Inventory Consolidation).

The options to be configured depend on the selected wizard. Each wizard type has its own General properties, its own Values tab, and — for some wizards — its own Updating Wizard procedure. These details are documented on a dedicated page per wizard type:

Wizard	What it configures
Wizard for Paired Elimination of Intercompany Debt	Pair combinations of debt and receivable accounts between reporting entities or cost centers.
Wizard for Lump Sum Elimination of Intercompany Debt	Lump-sum offsetting of debt and receivable accounts.
Wizard for Paired Elimination of Intercompany Income and Expense	Pair combinations of income and expense accounts between reporting entities or cost centers.
Wizard for Lump Sum Elimination of Intercompany Income and Expense	Lump-sum offsetting of income and expense accounts.
Wizard for Elimination of Intercompany Income and Expense Based on Group-internal Revenue	Offsetting of revenue accounts against one or more expense accounts with a percentage allocation.
Wizard for Inventory Consolidation	Elimination of intercompany profit or loss contained in inventory between affiliated companies.

If you change the configuration of a wizard in the Consolidation areas workspace and the change should take effect in the posting, the posting must be deleted in the journal and then created again because the Update wizard function only updates the values, but not the structure of the wizard-assisted posting.