Consolidating the income statement when users are submitting to the balance sheet

This is a tricky scenario. Schedules often have dependencies on each other because formulas on one schedule line can reference data from another schedule line. Thus, it would be common that some of the schedule lines in the Income Statement schedule are referenced by formulas on lines in the Balance Sheet schedule. As a controller, you should be aware of the dependencies between schedules. In this scenario, if there are indeed dependencies on the Income Statement schedule, and if the Balance Sheet schedule is being consolidated while users are modifying Income Statement schedule data, there is potential for the modified income data to not be reflected in the consolidated Balance Sheet data, depending on the timing of the consolidation and the data submissions. This can result in having to run all or a portion of the consolidation process again.