The main process Period Reconciliation includes the sub processes Prepare Consolidation - Subsidiary, Prepare Consolidation - Parent Company, Handle Year Closing, Handle Periodical Cost Allocation, Follow-up, Periodical Cost Allocation and Creation of Period Profit/Loss Vouchers.
IFS/Consolidated Accounts is used for consolidation of general ledger balances and budget balances from a group of one or more companies to a parent company. The sub process Prepare Consolidation - Subsidiary contains the activities to be performed in the subsidiary. The sub process Prepare Consolidation - Parent Company contains the activities to be performed in the parent company.
The sub process Handle Year Closing contains the activities for entering and transferring the closing balance for active accounts, i.e., assets, passive accounts, and debts, from one accounting year to an opening balance for another accounting year.
The sub process Handle Periodical Cost Allocation sub process contains the activities to perform periodical operations on balances in the general ledger. The most typical operation is cost distribution, e.g., allocation of indirect costs to cost centers. The sub process Follow-up, Periodical Cost Allocation, shows the reports that can be printed afterwards.