1C: Consolidation

"1C: Consolidation 8 PROF" is the application solution intended for automation of a broad spectrum of the tasks connected with planning of activity and performance monitoring of the companies of different scale, and also preparation of the consolidated statements of different function.

The application solution is issued in two options: 1C: Consolidation 8, 1C: Consolidation 8 PROF.

The option the Standard is intended for budget management of separate companies and small holdings and also automation of the tasks connected with preparation and the analysis consolidated managerial and the regulated reporting.

The option PROF in comparison with option the Standard has a number of additional functionality which is necessary for control automation by business performance of large holdings and also preparation of the separate and consolidated statements represented according to IFRS.

2017: Termination of sales and support of the product "1C: Consolidation 8 PROF"

1C Company announced in September that sale of the software products giving an opportunity to use the Consolidation PROF configuration will be stopped from 4/1/2018:

• 4601546092007 1C: Consolidation 8 PROF;
• 4601546041043 1C: Consolidation 8 PROF (USB);
• 4601546041067 "1C: Consolidation 8 PROF. The license for remote office";
• 4601546041050 "1C: Consolidation 8 PROF. The license for the notebook";
• 2900000067455 1C: Consolidation 8 NFR.

The Consolidation PROF configuration is developed on version 8.2 of the 1C: Enterprise platform which was outdate so far. This configuration can be used with modern version 8.3 of the platform only at the included mode of compatibility with version 8.2. The configuration does not support integration with the modern accounting systems working at the 1C:Enterprise 8.3 platform.

Now functional development of the Consolidation PROF configuration is not performed and further is not planned. Also transfer of the Consolidation PROF configuration to the 1C:Enterprise 8.3 platform is not planned.

The release of updates of the Consolidation PROF configuration is possible until the end of 2019 only for correction of critical errors in case of their detection. Since 1/1/2020 support of this product will be stopped.

For automation of budgeting, treasury, preparation of the consolidated statements 1C Company recommends to users of the Consolidation PROF configuration to use the modern application solution for business market – 1C: Holding Management 8. This application solution in addition to functions of 1C: Consolidation 8 PROF offers automation of the following functions:

• accounting and tax accounting based on 1C: Accounting 8 CORP;
• corporate taxes;
• management of investment projects and assets;
• management of credit, currency, interest rate risks;
• management of commercial agreements and agreements of financing;
• accounting according to IFRS, including instruments of intellectual closing of the period;
• portal of reconciliation of intra group transactions;
• centralized operation by purchases.

At release and development 1C: Holding Management "8" subsystems of the centralized treasury, the business analysis, budgeting, process management are cardinally processed, performance is significantly increased and the ergonomics of the majority of transactions are improved. Development of 1C: Holding Management 8 was executed with methodological support of the consulting companies Ernst&Young KPMG PriceWaterhouseCoopers.

2014: 1C: Consolidation 8 Standard, replacement by PROF version in the presence of the agreement 1C:ITS is removed from sale

1C Company announced in November, 2014 removal from production and sale from 12/20/2014 software products 4601546091994 1C: Consolidation 8 and 4601546040152 1C: Consolidation 8 (USB).

The specified products contain the Consolidation configuration of the Standard version developed on version 8.1 of the 1C: Enterprise platform which was outdate so far. This configuration does not support integration with the modern accounting systems working at the 1C:Enterprise 8.3 platform. Functional development of the Consolidation configuration of the Standard version is not performed since 2011, its transfer to the 1C:Enterprise 8.3 platform is not planned. The release of updates of the Consolidation configuration of the Standard version is possible until the end of 2014 in case of detection of critical errors. Since 1/1/2015 support of this product will be stopped.

Also product 4601546040183 "1C: Consolidation 8 is removed from sales. The additional license for the notebook".

For solving of tasks, connected with preparation and the analysis of the reporting consolidated managerial and regulated, 1C Company recommends to users of the Consolidation configuration of the Standard version to use a configuration "Consolidation PROF.

The Consolidation PROF configuration has a number of additional functionality which is necessary for control automation by business performance of large holdings and also preparation of the separate and consolidated statements IFRS [1] (more detailed). Further development of the 1C: Consolidation 8 PROF configuration is the 1C: Holding Management 8 software product which beta is already released, see information letter No. 18680 of 8/11/2014.

Functionality

Budgeting and management reporting

Budget company management allows to formulate in measurable key indicators of business objective, according to them to plan activity, during the course of performance plans to control resources and to analyze the achieved results. In general budget management allows to reduce systemic risks at development of the company and deterioration in an environment due to regulation of resources and increase in level of financial control in the company.

1C: Consolidation 8 is the universal solution for automation of functions of budget management as at the level of holding, and a separate business unit.

• The application solution has effective remedies of import of information from different accounting systems and management (including in the MS Excel format) that allows to reduce labor input of input and to increase trust to actual data.
• The implemented methods of remote access, such as web interface, the distributed information bases, allow to organize geographically distributed data processing.
• It significantly reduces labor input of input of initial data and promotes quality improvement of the reporting.
• Seamless integration with application solutions on the 1C:Enterprise 8 platform (including interpretation to documents of management systems and accounting on the 1C: Enterprise platform of versions 7.7 and 8) allows to integrate different information systems in a common information space and to lower load of service IT.
• The final business user has an opportunity to independently define the list of necessary qualifiers, the analyst, indicators, to develop budget models and sets of the reporting of different function.
• Both paradigms of planning – "multidimensional tables" and "planning from economic transaction" are supported.
• During planning the user has an opportunity to predict dynamics of indicators, using different options of calculation, consolidation and distribution of indicators and also functions of "the sliding planning" and "planning from reached", quickly to create necessary budgets. At the same time it is possible to combine planning methodologies "from below up" and "from top to down" and to use the mechanism of an automatic exception of intra group turnovers.
• Support of multicurrency and multilingualism provides a necessary form of submission of budgets and the corporate reporting.
• The developed functions on management of group of organizational and financial structure provide convenient formation of hierarchy different (including crossed) consolidation perimeters that allows to service the necessary principles of selection of the centers of the financial responsibility.
• Management tools processes allow to regulate budget process and to distribute responsibility between its participants.
• For review budgets a system allows to use the routes of any complexity configured in a user mode.
• The automatic notification of the interested employees on the course of process of approval, functions of commenting and version control of budgets provide effective interaction in planning process.
• There is an opportunity from 1C: Consolidation 8 after completion of planning automatically to set limits of cash flow items in 1C: Manufacturing Enterprise Management 8. It allows to provide control of operations on the items of expenditure of budgets created in the solution "1C: Consolidation 8" at approval of treasurer requests in 1C: Manufacturing Enterprise Management 8.
• Thanks to a possibility of use of the web client a system allows to reduce terms, to increase quality of planning and the operational analysis of execution of budgets due to inclusion in budget process of remote business units.

Business analysis

• The subsystem of the business analysis allows to obtain the necessary information in due time (including and automatically by e-mail) in a form, convenient for the analysis, irrespective of sources of initial data and management systems used in the company and accounting.
• Functions of the analysis include a possibility of carrying out "That if?", plan-fact, AVS, factor analyses and also the intelligent data analysis allowing to reveal unevident patterns in big arrays of information.
• Using the corresponding reference model including 50 financial indicators, a system allows to carry out a financial analysis of the reporting with issue of the text conclusion about the flowing and predicted financial position of business units and group in general.
• "1C: Consolidation" provides an opportunity to analyze results of activity of holding and its separate business units from any place in the world using the tools "Monitor of Key Indicators", "Analytical reports", "Analytical Panels" which are available in regime of the web client. The aggregated or settlement indicators can be decrypted consistently up to the document of the external accounting system.

The centralized treasury

The subsystem of the centralized treasury is intended for automation of the centralized control over payments of group.

The subsystem allows to increase effective management of in cash of group at the expense of following features:

• the centralized control over payments of organization units;
• operational inventory of checking accounts and status of settlement;
• compensations of cash gaps and reduction of level of not used money on checking accounts using intra group movements of cash;
• increases in feasibility of the budget of cash flow, acceleration of reconciliation procedures of payments.

The subsystem provides:

• consolidation of the planned and actual payment flows;
• organization units of group;
• planning of cash flows;
• limitation of flows and balances in cash;
• management of the planned cash flows of group.

Thanks to functionality on input and placement of requests for a funds expenditure via the Internet the subsystem allows to increase efficiency of the centralized control and cash management of geographically distributed holding.

Preparation of the separate and consolidated statements IFRS

In addition to the described opportunities focused on automation of budget management, PROF version of the application solution "1C: Consolidation 8" has necessary tool kit for preparation of the separate and consolidated statements provided according to IFRS.

• Any number of plans of indicators, setup of procedures of broadcast of financial information from charts of accounts of accounting solutions is maintained.
• The manual and automated transformational adjustments leveling differences in accounting policies of RAS and IFRS are implemented.
• Functions on registration of organizational changes in group allow to service complex circuits of mutual investments between the companies of holding.
• The developed functions on import and incoming inspection of the reporting allow to provide high quality of an original informatin and to reduce labor input of routine transactions.
• Control functions by processes in combination with templates of automatic transformational adjustments potentially allow to receive the consolidated statements IFRS in "one cliques".
• In the application solution the close attention is paid to information audiruyemost. Different types of interpretations, including transformational and consolidation tables and also interpretation to the accounting document of external information base are supported. Graphical representation of dependences between different indicators of the reporting in the form of a tree facilitates decomposition of settlement indicators and check of correctness of algorithms.

The complex of the considered tools allows to analyze, model, perform monitoring of key indicators in a unified environment and to plan development of geographically distributed business. Besides, a system allows to automate a full stroke of preparation of the consolidated statements RAS and IFRS.

The application solution "1C: Consolidation 8" is developed in close interaction with KPMG and PricewaterhouseCoopers companies.

Management of the normative reference information of holding

For the purpose of ensuring comparability and coordination of the analytical information imported from external information bases on the 1C:Enterprise 8 platform, the configuration supports the following functions on management of the normative reference information (NRI) of holding:

• import and information storage about structure of reference books of management systems and accounting;
• synchronization of internal reference books of 1C: Consolidation 8 and reference books of external systems;
• import of NSI as during the session of import of the reporting, and on demand;
• removal of doubles in NSI from different external sources;
• the centralized maintaining and approval of the made changes of reference corporate qualifiers;
• transfer to the standardized NSI to systems consumers on the 1C:Enterprise 8 platform.