Rolling up the books to a consolidation company, does it work?

I was just informed that the consolidation of accounting to a parent company has show-stopping issues. I had not heard this before but am looking for more details.

Are there any pitfalls and ways to get around them?

There could be bugs as with everything, but nothing that I’ve seen in a quite a while.

Any specific errors you are facing?

I asked for specifics. These were general statements given to a person by colleagues outside the company. I was hoping I could square up some common pitfalls/inflexibilities with these details once I have them.

Yes, it works fine. Uses multi company direct process to consolidate according to a consolidation definition.
Requires multi book functionality/license to be able set this up properly.
Process needs some technical skills to setup, but once is setup, an EUP for consolidations can be executed by an end user.
Common problem is related with data validation(transfer fields), multi company could get stuck and then consolidation doesn’t post properly.
I’ll recommend to have a finance consultant review your requirements to define the correct COA structure to consolidate

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