Implementing and Configuring Global Consolidations

This 2-day (12 hour) course is designed to teach how to configure and implement Intacct Global Consolidations.  Attendees are expected to have a basic understanding of the accounting principles of international consolidations (FAS-52).

Class Details

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Audience: This course is designed for experienced Intacct implementers with a working knowledge of Intacct multi-entity shared environments and a basic understanding of accounting.
Prerequisite(s):
  • It is strongly recommended that you attend the Advanced Implementation and Configuration course prior to attending this course
  • Solid understanding of setup and configuration of a multi-entity shared environment, including inter-entity transfer and order entry
  • Hands-on experience with data imports
Class Length: 2 days; 8:30 am to 4:30 pm
What You Need: Intacct will provide a sample Intacct environment for the hands-on learning activities. You will need to bring a laptop (not a tablet) with an Intacct-supported web browser with an Adobe flash player plugin.
CPE Credits: This course is eligible for 12 CPE credits.
Cost: This cost is included in your partner fee.

Course Objectives

 

At the end of this course, you should be able to:

  • Setup and configure a global consolidation in Intacct in an multi-entity shared environment
  • Configure and enable multi-currency in an multi-entity shared environment
  • Configure custom exchange rates
  • Run consolidations
  • Run reports
  • Manage and maintain a global budget
  • Add or remove an entity

Course Topics

Global Accounting Concepts and Rules
  • Describe the concepts of “daily average spot rate," “weighted average," “historical,” and custom rates
  • Explain the proper translation treatment for balance sheet accounts, income/expense accounts, and fixed asset accounts
  • Explain foreign exchange (F/X) loss and gain for multi-currency transactions
  • Explain cumulative translation adjustment
  • Explain revaluation
Intacct Global Consolidation Solutions—Understanding the Products
  • Explain the similarities and differences in functionality between global consolidation for multi-entity shared and multi-entity distributed environments
  • Describe the implementation implications for each of the two solutions
Planning and Designing for Global Consolidations
  • Determine information to gather prior to starting implementation
  • Determine questions to ask and what decisions need to be made prior to an implementation
  • Determine what accounts are needed in the chart of accounts
  • Estimate implementation effort
Setting up/Configuring/Implementing
  • Create an entity and set the base currency
  • Configure each entity for inter-entity transactions (IETs)
  • Create an elimination entity
  • Create a consolidation book
  • Determine additional elimination accounts
  • Set the rate tables for accounts
  • Import historical data
  • Determine key performance indicators (KPIs)
  • Configure global consolidation permissions
Multi-Currency Transactions
  • Configure multi-currency capability for transactions
  • Transact in a currency other than the base currency
  • Import multi-currency transactions (historical and run-the-business)
  • Describe how Intacct manages currency conversion, as well as both realized and unrealized FX gains and losses for multi-currency transactions
Setting up and Managing Custom Exchange Rates
  • Configuring exchange rate types and exchange rates for custom rate tables
Running Consolidations
  • Run a first time consolidation
  • Create journal entries for manual eliminations and revaluations
  • Run on-demand (manual) consolidation and setup scheduled consolidations
  • Run incremental (e.g. weekly or daily) consolidations
  • Run a consolidation for a subset of entities
  • Rerun a consolidation after an adjustment to a prior consolidated period
Global Consolidation Reporting
  • Use the global consolidation tool to run reports
  • Run reports from the report center and module menus
Global Budgets
  • Describe characteristics of a global budget
  • Manage and maintain a global budget
Extending the Setup/Changing the Configuration
  • Determine the impact for global consolidation of adding or removing an entity
Troubleshooting
  • Explain auto-elimination journal entries
  • Determine what conversion rate was used for a consolidation
  • Investigate Cumulative Translation Adjustment (CTA) when the balance looks wrong
  • Export to Excel