Enabling the Reporting Period Feature

If you have a parent company that has subsidiary companies with different reporting calendars, you can use the reporting period functionality to specify an additional period on the subsidiary companies' transactions for consolidated reporting purposes. The reporting period allows you to consolidate reports based on the parent company's periods for all companies in that group.

You can use this Feature Console feature to enable the reporting period functionality.

Work through the steps in the order shown.

For each manual step, follow the instructions on screen then click Mark As Done when the step is complete. More information about performing any manual steps is provided below.

Note:
It is recommended that you perform the Add Help Text to Company Ownership step.

When you have completed all the steps, use the Status slider in the Feature section to enable the feature.

Reporting Company

The reporting company is derived from the company ownership details for a company. If you have multiple parent companies that own a subsidiary company, then the company that owns the greatest percentage is defined as the reporting company.

For more information, see Company Fields

Reporting Period

The Reporting Period field is added to all your transactions. This field is populated automatically when you create transactions, with the period of the reporting company. If your company does not have a reporting company assigned, the company's period is used. For more information, see Transaction Fields.

You can update this field on existing transactions automatically using the Feature Console. By default, you can only update transactions that are up to two years old.

If you want to update transactions that are more than two years old, you can use the Reporting Period Update functionality in the FinancialForce Accounting API.

Notifications and Error Handling

The reporting company and reporting period updates uses background processes. These processes can take a long time to complete. You are notified by email when they complete. The notification includes information on the success or failure of the process and a link to the process logs. You can view these process logs for more information.

The update process scope sizes are determined by the Reporting Period Update Settings custom setting. If you have errors, you can reduce the scope size and re-run the process. Reducing the scope size may increase the time the process takes.

For more information, see Reporting Period Update Settings

If the process continues to fail, contact FinancialForce Support.