When managing consolidation files, it’s crucial to ensure that account numbers are accurately mapped to reflect correct financial data. Silverfin offers two primary approaches for mapping these files, each with its own implications. Understanding these methods will help you maintain a coherent and accurate consolidation process.
In Silverfin, you can map a consolidation file in two ways based on the account numbers in subsidiary files:
Mapping based on original account numbers: If you choose to tick the relevant box when creating the consolidation file, Silverfin will automatically pull in the original account numbers from the subsidiaries. It is recommended to manually map the consolidation file afterward to ensure consistency. Note that you cannot merge account numbers from different subsidiaries; each will remain distinct if they have different identifiers, even if they serve the same purpose.
Mapping Based on mapped account numbers: If you do not select the option to map based on the original accounts, it is advisable to use a uniform mapping list across all subsidiaries. This approach ensures that all accounts align properly in the consolidation files, preventing duplication or multiple entries for the same account.
By choosing the right mapping strategy, you can streamline your consolidation process and enhance the accuracy of your financial reporting.