---
title: "Creating Consolidated Financial Statements"
description: "After you have defined the structure and master data of your group, you can configure the app-supported consolidation of your group in the Consolidated financial statements workspace."
source_url: https://support.lucanet.com/en/documentation/consolidation-financial-planning/consolidation/consolidation-2/creating-consolidated-financial-statements
language: en
last_updated: 2026-05-01
---
# Creating Consolidated Financial Statements
## Overview
After you have defined the structure and master data of your group, you can configure the app-supported consolidation of your group in the **Consolidated financial statements** workspace.
To do so, first create a so-called consolidated financial statement element in the **Consolidated financial statements** workspace for the desired combination of **group and data level** and define the **time period** of the consolidated financial statements. This chapter describes how to proceed.
Subsequently, in these consolidated financial statements elements, you can:
- Transfer the [proportioned data](https://support.lucanet.com/en/documentation/consolidation-financial-planning/consolidation/consolidation-2/data-transfer-and-proportioning.md) from the organization elements in the consolidation areas
- Configure all consolidation apps needed for the consolidated financial statements
- Execute the [consolidated financial statements](https://support.lucanet.com/en/documentation/consolidation-financial-planning/consolidation/consolidation-2/executing-consolidation.md)
> **Warning:** **Notes for customers who have used apps of the Consolidation 2 or Consolidation 2 Next Generation in Lucanet.Financial Client**
>
> - Elements of type **File** and **Text document** cannot be displayed and/or edited in the **Lucanet CFO Solution Platform**
> - For information on the apps supported in the CFO Solution Platform, please read the [Notes on Migration From Lucanet.Financial Client](https://support.lucanet.com/en/documentation/consolidation-financial-planning/consolidation/consolidation-2/configuring-consolidation-apps/migration-from-lnfc.md).
## Creating a Consolidated Financial Statements Element
To create a Consolidated financial statements element, proceed as follows:
1. Open the **Consolidated financial statements** workspace.
2. In the dimension bar, select the combination of **group** and **data level** for which you wish to create the consolidated financial statements.
3. If you have not yet defined master data for this combination of **group** and **data level**, click **\+ Create** in **Master Data Administration** and configure the master data as described under [Administrating Master Data](https://support.lucanet.com/en/documentation/consolidation-financial-planning/consolidation/consolidation-2/master-data-administration.md).
If you have already defined Master Data, a link to the corresponding **Master Data Management** is displayed.
4. Highlight the root folder **Consolidated financial statements** and select **New | Consolidated financial statements** from the context menu.
5. Configure the options in the **Create consolidated financial statements** dialog as described below **.**
6. Save the element.
## Options
The following options are available:
Create consolidated financial statements
| Option | Description |
|---|---|
| **Name** | Group financial statements name |
| **Period** | Period of the consolidated financial statements.
**Note:** The time period must lie within the time period of the selected data level. |
| **Behavior in case of error** | Choose the desired behavior if an error occurs during execution of the consolidated financial statements:
- **Continue execution**
- **Cancel execution** |
| **Use template** | Activate this option if you would like to use a template for the consolidated financial statements. Then, in the **Journal** select the desired combination of **data level** and **group** and from the drop-down list the desired **consolidated financial statements** to be used as a template.
**Note:** In Lucanet CFO Solution Platform only templates can be used that exclusively contain consolidation apps of the Next Generation. |