Consolidate Companies in Dynamics 365 Business Central

Consolidating companies with Dynamics 365 Business Central is a streamlined and efficient process, allowing businesses to manage financial data across multiple entities with ease. This scenario will demonstrate how Business Central simplifies consolidation, from setting up business units to running the process and reviewing the final consolidated trial balance.

1. Creating Business Units and Mapping the Consolidation

The first step in consolidating companies is setting up business units in Dynamics 365 Business Central. Business units represent individual companies within the system, and the platform allows for flexibility when consolidating entities with different fiscal years, chart of accounts, or even currencies.

In this scenario, we share a common chart of accounts across the companies, simplifying the process. By using the assisted setup wizard, Business Central walks users through creating the business units and mapping the consolidation process step-by-step. The system also supports more complex scenarios, like consolidating partial ownership percentages and handling different exchange rates across currencies.

2. Running and Testing the Consolidation



Once the business units are set up, you can preview the consolidation before running it to ensure accuracy. The preview feature allows you to filter by individual business units and check for any errors or discrepancies. This provides the opportunity to review data before committing to the final consolidation.

After the preview confirms that everything is in order, you can run the consolidation. Dynamics 365 Business Central then consolidates the General Ledger (GL) entries from each of the individual companies into a new consolidated company. This automated process eliminates manual errors and ensures that the financial data is complete and accurate.

3. Reviewing the Consolidated Trial Balance

Once the consolidation is complete, you can generate and review the consolidated trial balance. This report combines the GL entries from each business unit, providing a comprehensive view of the financial health of the entire organization. You can filter results by specific business units or time periods, giving you detailed insights into the consolidated data.

Benefits of Consolidation with Dynamics 365 Business Central

• Seamless consolidation across multiple companies: Business Central allows you to consolidate entities with different fiscal years, charts of accounts, and currencies, making it a versatile tool for complex business structures.
• Assisted setup and wizard-based automation: The wizard simplifies the consolidation process, guiding users through each step and reducing setup time.
• Accurate and error-free financial data: By automating the consolidation of GL entries, Business Central reduces manual errors, ensuring that your financial reports are accurate.
• Flexible preview and reporting options: The ability to preview consolidation results before finalizing helps ensure accuracy, while the detailed trial balance report provides full visibility into your consolidated financials.

Dynamics 365 Business Central helps businesses consolidate financial data quickly, efficiently, and with full confidence in the accuracy of the results.