Is it possible to go through year-end close for the subsidiaries mid-year (close out the income statement to retained earnings)?
Does anyone use Spreadsheet Server and what are the implications of multiple year ends to Spreadsheet Server pulls?
Are there any best practices or lessons learned to be shared?
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We have a joint venture where the partnership’s fiscal year end is different than ours. We do the accounting for the business units in the partnership and need to maintain the books and records for both a 12/31 year end and a 6/30 year end. We are looking for any best practice or experience with maintaining business units with two fiscal year ends to support separate reporting requirements.
What items need to be considered when setting up the subsidiary company codes in JDE? For example:
@Margaret Kreuz Margaret - I am the Product Manager for this area for Oracle/JD Edwards. This is a good question and can absolutely be accomplished.
You would have one company specifically for your Joint Venture and all business units that incur expenses or receive revenue would be assigned to that company. Its date pattern would be the one appropriate to the Joint Venture. The Managing Business Unit assigned to the Joint Venture (via the Joint Venture Master) would be for a business unit within your base company. As you as the managing partner distribute journal entries and process them to the partners (with you as a partner) through the JVM system journal entries will be written to your base companies business unit allowing you to report your share of the JV. Reporting for the JV would be done via the company you've set up for it
The 2 companies can close their books as needed.
If you have any other questions, please feel free to reach out to me directly (firstname.lastname@example.org).