PLRCONS - Consolidated Profit and Loss Report
What is PLRCONS
PLRCONS is the consolidated report used for all ITAS designed P&L reports, whether the standard styles or those that have been specially designed by users in NOM. The standard reports illustrate the grouping of the Nominal Ledger with the relevant posted values. Currency conversions and other filtering processes (e.g. by department) are handled as part of the user selections. PLRCONS will allow the user to include any of the companies for which they have been authorised to view. The consolidation operates perfectly if the different companies have the same structure. The structure and account descriptions used are those of the operating company. If the other companies have different accounts, PLRCONS will attempt to include their values in the relevant section of the report but the final result will not be perfect consolidation. The preferred solution is to maintain a ‘consolidation company’ where all the associate accounts are mapped and then post the fiscal adjustments to that company and produce the BALCONS and PLRCONS from that company. There are standard features for export to Excel etc and the report styles include consolidate into a standard PLR style or produce a column analyis per company.
How to use
Departmental PLR can be produced with their own filtering, the detail/summary options determine the grouping presentation and there are the standard output media options, including Excel.
It is important to remember that the formal period-end reports must use the specially frozen exchange rates, (see Spot/Period selection on right-hand-side of selection page).
Note that ITAS operates with a 13th period for the purpose of completing the year-end with final audit adjustments. This removes the need to keep the 12th period open longer than the standard fiscal period closure process. The 13th period is opened automatically when the 12th period is closed (MEPACT).
The 13th period is known as ADJnn (where nn is the fiscal year). The year-end exchange rates are the period 12 rates, so it is very important to freeze those rates correctly using GF company/FXR. Remember that for year end PLR, to select ADJnn as the cutoff period and not the 12th period, else the postings in the 13th period will be excluded.
The budget reporting relies on clean budget values being maintained in NOM. A problem/situation can arise if budgets are set up for a NOM grouping account with budgets also set up for any of the accounts that are included in that group. The problem arises if a summary level is selected which looses the identity of the sub accounts in which case their budget amounts are merged with the grouping account.