Perform reconciliation
Regardless of the method used to perform the How to upload of trial balances, the next step is the reconciliation of the period.
In this step you will need to deep dive into the "UPLOAD REPORT", which can be found under "REPORTS" and then by selecting "Upload report" using the dropdown and then "DOWNLOAD REPORT". In general, all "STANDARD REPORTS" available in Konsolidator can be found here.
We always recommend that time is dedicated to the reconciliation of the first upload for each entity, and thereby the first consolidation. Preferably for the second period too. The purpose of this is to ensure that the Group accounts needed for reporting purposes are established and the mapping is setup correctly in order to have the most accurate foundation for the first consolidation.
The "UPLOAD REPORT" is an overview of uploaded year-to-date (YTD) numbers for a specific period.
The first sheet in this report is "MAPPED RESULTS". That shows the total in local currency captured by each group account for every entity uploaded upon. Taking offset in a specific group account, it can be visible that for instance, not all companies have uploaded figures to this group account.
The second sheet in this report is "MAPPED DETAILS". In addition to the Upload total for a specific Group account in local currency, which we also found in the "MAPPED RESULTS" sheet, the total of any "ADJUSTING JOURNAL ENTRIES" (AJE), e.g. column D, or "RECLASSIFICATION JOURNAL ENTRIES" (RJE) e.g. column E, booked on a Group account for each entity is shown here.
What is crucial for the Upload part is the sheets following the two first sheets, which show each entity where the upload has been completed. Here you can see which local account(s) are going into which Group account based on the mapping. This illustrates clearly how the Upload report gives an overview of the link from local accounts (in column C) to Group accounts (in column A). If "DIMENSIONS" are used in the upload this is also presented in column E. Column I is the uploaded numbers in local currency.
What is needed now, is that you reconcile every line item in P/L and BS to the internal reporting or Annual Accounts for the period uploaded. This is important to make sure that each entity and the local accounts are mapped to the correct Group accounts the way you already have or would like to have in your reporting. If that is not the case, you go back and change the mapping, add Group accounts, etc.
This means that you for each entity in the Upload report will need to spend some time on the reconciliation of the individual company and look at each item, e.g. does Group account 11999 “Revenue” matches what you have in December 2021 reporting of the same for this entity.
When this is done carefully, you will for sure have the best starting point and foundation for the work with the journals and the consolidation, which is the next step.