How to Create a Sibling Hierarchy Using the Main Company Hierarchy as the Source
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How to Create a Sibling Hierarchy Using the Main Company Hierarchy as the Source
- 1 Minute to read
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- Navigate to Maintenance > Hierarchy > Hierarchy Management.
- Click More, than select Create Sibling Hierarchy. The Create Sibling Hierarchy screen appears.
- For Source Hierarchy, select the main company hierarchy.
- For Source Hierarchy Group, select from pre-defined system populated options.
- For Target Hierarchy, select to create the sibling hierarchy under the parent (Main Company).
- For Target Hierarchy Group, select the type of hierarchy you want to create. In this case, it is an IFRS hierarchy to generate IFRS financial statements.
- For Suffix, enter an identifier to prepend each member in the hierarchy for identification purposes.
- Click Save. Clicking save prompts the system to create the duplicate hierarchy which is then available on the Hierarchy Management page.
- Navigate to the Consolidation Control Panel.
- Select the hierarchy just created.
- Click Consolidation Process.
- Click the Process action.
- Review the posted data by selecting the Consolidation Status report in the Consolidation Control Panel.
- Post adjustments to the sibling IFRS hierarchy journals, for example, then run the Consolidation Process again.
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