Quick Consols

> Update summary

We’ve just dropped our Q4 2024 update with lots of exciting goodies. Thanks again for all your valuable feedback so that we can keep making Quick Consols the leader in its field.

If you’re short on time here’s a quick glance at the latest updates

Core consolidation module

1. Reversing journals can now be decoupled, re-joined and reset

2. Health check links allow you to jump straight to the data that needs attention

3. Updating ERJ and RJ start and end dates

4. Journal upload errors now displayed all at once rather than one per error

5. Consolidation journals can now be split out for business unit reporting

6. Cashflow statement option to translate balance sheet journals at average or spot rates (previously only spot)

7. Reporting screen now displays as an org chart (with added info)

8. Additional validation on business units where the “everything” filter is applied

9. Exchange rates now have eight decimals

10. Performance improvements on trial balance uploads and integration

11. Updated NCI/FCTR proof now shows more detail

Annual Financial Statements module

1. Underline column headings now available

> Core consolidation module updates

1. Reversing journal enhancement

You now have these additional options on reversing journals

•Decouple the journal -> change made to the original will no longer update the reversal

•Rejoin the journal -> if you want to rejoin the original and the reversal

•Reset-> if you’ve decoupled a reversal, made changes and want to go back to the original reversing journal

2. Health check links allow you to jump straight to the data that needs attention

3. Updating ERJ and RJ end dates

You now have full control over setting the start and end dates on your RJs and ERJs (auto-eliminations)

4. Journal upload errors are now displayed all at once rather than one per upload

•You are now presented with all errors in the journal upload file

•Previously the app would only present one error at a time per upload

5. Separate proforma column on business unit reporting (reporting option)‍

You now have the option to display proforma consolidation journals in a separate column when reporting on business units

6. Cashflow statement option to translate balance sheet journals at average or spot rates (previously only spot)

•You can now choose how the balance sheet leg of journals get translated in the cashflow statement

•Previously these have always been converted at closing spot rates

•You can now choose to translate those at average rates

7. Reporting screen now displays as an org chart (with added info)

•Previously all the companies were presented in a basic list

•The group structure is now displayed as well as additional company information such as year end and functional currency

8. Additional business unit validations

•You can only select a single company & business unit combination where you have used the “Everything” filter when creating that business unit

•Using the “Everything” filter on a business units means all GLs for that company are included in a single business unit and those GLs cannot be reused in other business units

•The system will still allow you to proceed if required

9. Exchange rates with eight decimals

•Due to many requests in the past we have extended the number of decimal places allowed on exchange rates to eight (8)

•This will not affect exchange rates previously captured or used

10. Updated NCI/FCTR proof now shows more detail

The NCI/FCTR proof has been enhanced to show even more detail by breaking out the income and FCTR splits into trial balance values, IFRS journals, Normalisation journals and Proforma journals