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

SAP Term: step consolidation

• Component: FI-LC

• Component Name: Consolidation

• Description: A consolidation procedure that consolidates the individual trading partners one level at a time, moving upwards in the hierarchy of a multi-level group. The companies lowest in the hierarchy are consolidated first. The resulting individual financial statements are then used for consolidation on the next hierarchical level.

Smart SAP Assistant

• Key Concepts: 
  Step consolidation is a feature of the FI-LC Consolidation component of SAP. It allows users to consolidate financial data from multiple companies into one consolidated financial statement. This process is done in a series of steps, which can be customized to meet the user’s needs. 
  
  How to use it: 
  Step consolidation can be used to create a consolidated financial statement from multiple companies. The user can define the steps that will be used in the consolidation process, such as selecting the companies to be included, setting up the consolidation rules, and running the consolidation process. The user can also customize the steps to meet their specific needs. 
  
  Tips & Tricks: 
  When using step consolidation, it is important to ensure that all of the companies included in the consolidation process are properly set up and configured. Additionally, it is important to ensure that all of the data being consolidated is accurate and up-to-date. 
  
  Related Information: 
  For more information on step consolidation, please refer to SAP’s official documentation on FI-LC Consolidation. Additionally, there are many online resources available that provide tutorials and tips on how to use step consolidation effectively.