What is consolidation status in SAP FI-LC - Consolidation?

SAP Term: consolidation status

• Component: FI-LC

• Component Name: Consolidation

• Description: The status set for companies and subgroups to control and monitor the sequence of individual consolidation activities. The consolidation status shows the activities that have been performed by whom, and those that are still to be or cannot yet be performed.

Smart SAP Assistant

• Key Concepts: 
  Consolidation status is a feature of the FI-LC Consolidation component of SAP. It is used to track the progress of a consolidation process and to determine when the process is complete. The consolidation status can be set to either “In Progress” or “Completed”. 
  
  How to use it: 
  To use the consolidation status feature, first select the FI-LC Consolidation component from the SAP menu. Then, select the “Consolidation Status” option from the menu. This will open a window where you can set the status to either “In Progress” or “Completed”. Once you have set the status, click “Save” to save your changes. 
  
  Tips & Tricks: 
  It is important to remember to set the consolidation status to “Completed” once you have finished a consolidation process. This will ensure that all changes are saved and that the process is marked as complete. 
  
  Related Information: 
  For more information on using the FI-LC Consolidation component of SAP, please refer to the official SAP documentation.