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Administrator Guide
Last Updated: 2023-06-23
Steps: Create Alternate Fiscal Year Consolidations

Steps: Create Alternate Fiscal Year Consolidations

  • Review setup considerations for consolidations and eliminations.
  • Create a company hierarchy that includes all companies that are part of the consolidation.
  • Security:
    • Set Up: Consolidation
       domain in the Financial Accounting functional area.
    • Set Up: Financial Accounting
       domain in the Common Financial Management functional area.
Workday enables you to create consolidated financial statements for companies with different fiscal schedules. When you want to roll up companies with alternate fiscal schedules into a hierarchy, each company in the hierarchy must share either:
  • A primary fiscal schedule.
  • An alternate fiscal schedule.
Create a separate hierarchy if you want to report consolidation results for the alternate fiscal schedule.
  1. Consolidate companies in the hierarchy to eliminate:
    • Intercompany.
    • Equity pickup.
    • Transactions.
    • Noncontrolling interest (NCI).
  2. Associate 1 or more alternate fiscal schedules with each company in the hierarchy.
  3. Access the
    Edit Consolidation Details
     task and enter a standard or alternate fiscal year to define the consolidation fiscal schedule for the company hierarchy.
  4. Roll forward year-end balances and translated beginning balances for all companies in the hierarchy at the end of their fiscal years.
    When you have no translated beginning balances to roll forward, enter these balances manually.
Run the
Consolidated Trial Balance
 report.