We have multiple companies in Epicor, domestic and international, and are looking to use Epicor/Kinetic as a GL consolidation tool. Has anyone successfully consolidated GL within Epicor between companies with different base currencies? Subsequently, how is foreign currency translation handled on a period (monthly) basis and how are intercompany transactions, if any, eliminated? Or is GL consolidation being done outside of Epicor using Excel or a bolt-on product?
We have been using XL Connect to consolidate outside of Epicor. (We haven’t upgraded to Spreadsheet Server yet.)
This topic has been addressed at the Epicor Insights conference as a 4 hour pre-conference class for an extra fee. I have attended and it is definitely worth the time. It is helpful to know what roadblocks you may encounter and can resolve before actually starting the implementation process.
From what I recall from the class, it was recommended that you create an Elimination company just for the intercompany elimination entries, and then a Consolidation company to bring in all trial balances in your consolidation currency.
I’m interested to hear what others are doing as well.
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