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How to Consolidate Companies in Microsoft Dynamics 365 Business Central


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    General Ledger Consolidation: How to Consolidate Multiple Companies with Microsoft Dynamics 365 Business Central

     

    Microsoft Dynamics 365 is a powerful solution for enterprises with multiple business units. By giving you the ability to consolidate multiple businesses into a single general ledger report, 365 Business Central allows you to launch your business quickly, manage multiple companies, and grow at a pace that works for you.

     

    Ready to consolidate multiple companies in Dynamics 365? It’s easier than you think! JourneyTEAM has extensive experience with Dynamics 365 Business Central and below, we’ll walk you through the 4 simple steps needed to perform a general ledger consolidation across multiple businesses.

     

    Or, watch this video to learn how to consolidate multiple companies in Business Central through a short 2-minute demonstration:

     

    1. Select Business Units in Dynamics 365 Business Central

     

    The first thing you’ll need to do is access your Dynamics 365 Business Central dashboard. From here, select the search box by click on the magnifying glass at the top of your screen. Type “business units” into the search box, and select the “Business Units” option that appears.

     

    1. Test the Consolidation

     

    Next, you’ll be taken to a screen with a list of your organization’s business units. In the top left corner of your screen, click the “Test Database” button. A pop-up screen appears with a number of configurable options.

     

    Under “Consolidation Period,” set the starting date and ending date of the period that you’re looking to consolidate. Under the “Business Unit” heading, the drop-down menu on the right will allow you to filter your results based on a particular business unit. However, if you leave this option blank, you’ll generate a report which includes all of the business units contained in your organization.

     

    From here, click the “Preview” button. Dynamics 365 Business Central will generate a consolidation test report by company. Scroll between company reports and check to ensure that no errors are produced.

     

    1. Run the Consolidation in Business Central

     

    If your consolidation test reports don’t show any errors, you’re ready to proceed with the actual consolidation process.

     

    First, click the “X” in the upper righthand corner of the test report page to go back to the “Business Units” screen. From here, select “Run Consolidation” from the top menu.

     

    A new pop-up window presents you with the same options as your test consolidation. Ensure that the start and end date parameters are correct, then click “OK.” Confirm that you want to run the consolidation, and Dynamics 365 will take care of the rest.

     

    1. Review the Dynamics 365 Business Central Consolidated Trial Balance

     

    Once you’ve run the consolidation, click the “Preview” button on the “Consolidated Trial Balance” screen to be taken to your consolidated trial balance report.

     

    You’ll be presented with the Consolidated Trial Balance report, which effectively combines all of the general ledger entries for each of the companies in your organization.

     

    JourneyTEAM: Your Dynamics 365 Partner

     

    As you can see, consolidating multiple companies to produce a combined general ledger report in Microsoft Dynamics 365 Business Central is relatively easy. But if you’re just getting started with Dynamics 365, there’s a lot to learn in order to take full advantage of the software.

     

    Dynamics 365 gives your business the ability to manage financials, keep projects on schedule, automate your supply chains, increase customer satisfaction, and more. Whether you’re looking to migrate to Dynamics 365 or get more out of your current installation, JourneyTEAM offers custom-tailored solutions for organizations in a wide range of industries. As a Microsoft Gold Certified Partner with over 20 years of IT experience, JourneyTEAM has the knowledge and skill set to help you integrate Dynamics 365 seamlessly into your organization’s processes and workflows.

     

    Want to learn more? Click here to contact JourneyTEAM now!

     


    JourneyTEAM is an award-winning consulting firm with proven technology and measurable results. They take Microsoft products; Dynamics 365, SharePoint intranet, Office 365, Azure, CRM, GP, NAV, SL, AX, and modify them to work for you. The team has expert level, Microsoft Gold certified consultants that dive deep into the dynamics of your organization and solve complex issues. They have solutions for sales, marketing, productivity, collaboration, analytics, accounting, security and more. www.journeyteam.com

     

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