FAS FAQ

When should entity data be submitted?

Within one to two weeks of month-end per your close schedule. Consolidation cannot execute until all entity submissions are complete and Phase 2 setup is finished.

What if opening balances don't match prior closing?

Run the Carry Forward report from Phase 2. The only expected difference is in Retained Earnings, where the opening balance = prior closing retained earnings + prior period net profit. All other balance sheet accounts should match exactly. If they don't, check the prior-period closing balance and re-run if needed.

How do foreign currency subsidiaries work?

Enter entity financials in local currency. The system converts P&L at average rate, balance sheet at closing rate, and equity at the fixed historical rate per FAS requirements. Translation differences flow through the Muuntoero reserve in equity.

What if intercompany balances don't match between entities?

Review the IC Matching report. If amounts differ or one entity hasn't recorded the transaction, the difference is flagged as unmatched and must be investigated before consolidation proceeds.

How are dividends between group entities treated?

Intercompany dividends are eliminated in consolidation — they appear as internal receivables and payables and are backed out to prevent double-counting in the consolidated statements.