Consolidation Opt-ins

This article provides information on the Consolidation opt-ins.

• Enable Sibling Hierarchy (IsIfrsGapEnabled)

• Standard Journal Processing in ADC (StandardJournalAsyncProcess)

• Alternate and Dated Hierarchies

Note:

By default, these flags are turned off. Contact Planful Support to opt in for these features.

Enable Sibling Hierarchy (IsIfrsGapEnabled)

This opt-in feature allows organizations to maintain multiple sets of hierarchies for the consolidation process. There are scenarios where organizations need to set up a second or even third hierarchy to represent a second or third set of books for different reporting purposes, such as US GAAP, IFRS, IndAS, etc.

Key Benefit

• Create and maintain multiple sets of books representing different reporting requirements. It is ideal for organizations operating worldwide. To learn more about creating sibling hierarchies, click here.

Standard Journal Processing in ADC (StandardJournalAsyncProcess)

This opt-in feature enhances the user experience by moving the processing of Standard Journals in Consolidation from on-screen processing to processing via the Automated Data Collection (ADC) task scheduler. When this opt-in feature is enabled, multiple standard journals are processed in the background in ADC. This is called the asynchronous process, allowing users to continue their tasks while the application processes journals in the background.

If this opt-in is not enabled, more than one journal will be processed on the screen. This is referred to as the synchronous process, forcing users to wait until the action is complete.

Key Benefit

• Allows users to seamlessly continue with their tasks when processing a large number of standard journals by moving the processing to the ADC task scheduler.

Note:

The application processes one standard journal only using the Synchronous Process, irrespective of whether this opt-in feature is enabled or not.

Alternate and Dated Hierarchies

Alternate Hierarchy

The Alternate Hierarchy opt-in feature allows organizations to create and manage hierarchies related to specific dimension members. For example, organizations can create one alternate hierarchy per cost center, such as for management reporting, division reporting, or legal entity reporting. This allows summarizing specific members of a dimension for more granular reporting needs.

Key Benefits

• Customize reporting views by grouping specific members of a dimension in different ways.

• Use source hierarchy data across multiple hierarchies, eliminating data duplication and providing different reporting perspectives without altering the original structure.

Note:

The Alternate Hierarchy opt-in feature is available by default only for the Account dimension. To enable this feature for other dimensions, users must contact Planful Support.

To learn more about creating alternate hierarchies, click here.

Dated Hierarchy

The Dated Hierarchy is a type of an alternate hierarchy. This hierarchy type allows organizations to create and manage multiple versions of hierarchies across different periods. For example, Product A merged into a new product line in January 2025. Users can create reports on both product hierarchies and assess the financial impact of this merger.

Key Benefits

• Manage historical and current organizational structures by creating and maintaining multiple versions of hierarchies that reflect changes over time.

• Generate time-specific reports by using different hierarchy versions to compare how organizational changes impact financials across periods.

To learn more about creating dated hierarchies, click here.