This article focuses on financial reporting and roll-up solutions for not-for-profit organizations utilizing Microsoft Dynamics GP.
Financial reporting and consolidations can mean different things to different people. Many larger Microsoft Dynamics GP not-for-profit customers are managing the finances of a parent organization with multiple locations rolling up to it. First things first, let’s define financial roll-ups or ‘consolidations’ as it is typically called in the corporate world. It can simply mean that an organization is combining data from multiple locations either as part of the planning process or for reporting purposes. It can also mean a lot more than just combining data. Financial consolidation is the process of aggregating transactional data from several departments and from multiple business entities within a company for the parent company. In these cases, simply combining data can be complex for multiple reasons. For instance, legal entities can have different charts of accounts or fiscal years. They may also be partially owned. This article will explore the elements and functionalities of financial consolidation for your non-profit organization using Microsoft Dynamics GP.