Megha Chopra and Mohit Jain, Genpact
To create a consolidation application faster, FCCS provides multiple in-built dimensions and allows you to customize account hierarchy based on your organizational needs. Before 19.08, FCCS provided traditional BS and net asset approaches to design the account hierarchy. In the 19.08 version, FCCS has introduced the third hierarchy option, "Basic," to provide more flexibility while designing account hierarchy.
The new “Basic” balance sheet option provides a simplified hierarchy of the minimum required set of Accounts and Movement dimension members, based on the enabled features and a minimum set of seeded forms. With this, an option of “Indirect cash Flow” will also be available to define indirect cash flow.
In this live demo, we will design a complete account hierarchy using three different approaches to demonstrate the power of FCCS.
- Why basic hierarchy
- How basic hierarchy is different from traditional BS and net asset approaches
- Movement dimension in basic hierarchy
- Building “indirect cash flow” hierarchy
- Overall impacts of introducing “basic” account hierarchy to an application
This will be an interactive session, join us as we show how designing an account hierarchy in the cloud is easy, fun, and relatively foolproof.
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