A new GCR version (1.1.0) is here!

Massimo Navarra
Massimo Navarra Employee
Fourth Anniversary Level 100: Foundations of Building in Board 5 Likes Photogenic
in Blog

A new GCR version (1.1.0) is here!

We are happy to announce that a new GCR version (1.1.0) is now available for customers and partners!

New Material available: IFRS Starter Kit

A pre-packaged Starter Kit with pre-configured Group Accounts, Reporting Structures, cash flows and much more is now available!

New features included in this release

IFRS5 reclassification:

A new Field has been added in the group structure screen, which enables IFRS5 accounting principle application.

image-5c25bcae53fef-9066.png

Auto Adjustments enhancements:

image-b670d2e898b4c-bd7c.png

A new field is now available when the user set up auto adjustments in GCR: Sequence.

when creating an automatic adjustment, it is now possible to define up to five calculation levels. Auto adjustments will be calculated sequentially starting from sequence 1 to 5, and each sequence will use the previous sequence output as input.

New Reports: Other Comprehensive Income (Local OCIand Group OCI):

We have added the possibility to create OCI Reports for Both Local and Group visibility.

In the admin capsule the user can set up the OCI KPI’s accordingly to the following information:

  • Account
  • Movement
image-825c96997a02d-4060.png

Exit and Merge: reversal of IC eliminations booked on outgoing counterparties

IC amounts booked on exiting counterparty are now being reversed

image-82374826c4bbd-4cd6.png

IC reconciliation by transaction currency – detail screen

IC reconciliation by transaction currency can now be viewed with the same level of detail as reporting unit currency

image-04c7914018827-9592.png

BUG FIXES

GCR 1.1.0 also fixes the following main BUGS:

  • Package submission: validation status is now properly displayed, keeping into account layer exclusion setup in the admin capsule for each validation rule
  • It is no longer possible to post local adjustments on a locked reporting Unit
  • Exit and Merge behavior: fixed numerous incorrect behavior when a Reporting Unit is in exit or merge such as:
    • Incorrect reversal of profit for the period and retained earnings
    • Incorrect splitting of profit for the period and retained earnings in group and minorities on layer 10-04
    • Incorrect generation of conversion difference on opening
  • Investment Elimination – balance exchange rate difference with conversion reserve: when an exchange rate difference movement is generated, it is now correctly balanced on group\minority conversion reserve instead of consolidation reserve.
  • Consolidation Method is now correctly calculated when Multiple Level Chains exists.
  • Profit Calculation Split between Minorities and Group Owner is now extended also to P&L automatically.
  • Historical rates are now used to multiply local currency amounts and obtain the historical value, while previously the rate was used to divide the amounts.

How to request GCR:

First installation - Cloud Customer: the installation process is automated. The Cloud Ops will install GCR after the request from Sales Order Team.

First installation - On- Prem Customer: Please open a ticket trough the support portal https://support.board.com/ providing Order ID and Customer ID. For any exception please provide the confirmation from your AGM or Sales Director.

Upgrade (eg. from GCR 1.0.3 to GCR 1.1.0): Please open a ticket trough the support portal https://support.board.com/

Tagged:

Comments

  • Kevin Kowalski
    Kevin Kowalski Employee
    Fourth Anniversary 25 Up Votes 5 Likes First Comment

    Thank you @Massimo Navarra for the update !

    Is that possible to share from which Board version GCR 1.1.0 is supported ? (12.6,14.1 or 14.2 ?)

    Kind Regards

    Kevin

Categories