Configuration in Business Modeling

To enable Financial Consolidation to work correctly, you must configure the consolidation-specific areas and maintain several business objects and system account settings in Business Modeling.
Note: We recommend that you publish the model after you complete all required configurations in Business Modeling. After you publish the model with its all settings, modules such as Budgeting & Planning, Financial Consolidation, and Workforce Budgeting can use the data model and settings.

These steps give a high-level overview of the required configurations in Business Modeling and their recommended order:

  1. Activate the Financial Consolidation module.
  2. If you use segmentation, define custom business objects.

    These business objects are available by default:

    • Accounts: Used in Budgeting & Planning
    • Cash Flow Group Accounts: Used in Financial Consolidation
    • Entities: Used in Budgeting & Planning and Financial Consolidation
    • Group Accounts: Used in Financial Consolidation
    • Groups: Used in Financial Consolidation
  3. Define the calendar. The calendar defines the time structure used throughout the entire Infor EPM business application.
  4. Create the required structures for these business objects:
    • Organizational: Groups, Entities, Currencies
    • Financial: Group Accounts, Schedules (optional), Cash Flow Group Accounts (optional)
    • Custom: Segments (optional), Analysis (optional)
    Note: Ensure that, as a minimum, the Group Accounts business object has been configured. If the cash flow statement is required, ensure that the Cash Flow Group Accounts business object has been configured.
  5. Define the required settings for the Core, Balance Sheet, Profit and Loss, and Cash Flow modules.
  6. Configure consolidation processes.
  7. Publish the data model.
    Caution: 
    Before you publish the model, ensure that you have correctly configured all required settings. If you replace business objects, or change settings that are already used by the application, you will lose data. The changes are published to OLAP, including changes to other modules.