Consolidated Eliminations Report
Use the Consolidated Eliminations report to review the accounts and amounts that were eliminated during consolidation processing.
The report displays to-date elimination totals for balance sheet accounts and fiscal year-to-date totals for income statement accounts, through the current accounting period. Any income statement account eliminations from prior years are summarized on a single, separate report line. You can drill down to see the supporting transaction detail for any amount on the report.
Eliminations Processing
During the consolidation process, Vantagepoint eliminates (excludes from the merged data) any account balances or portions of account balances that represent intercompany transactions between the companies in the consolidation group, so that the consolidated information gives an accurate view of the financial state of that group as a whole.
Vantagepoint automatically eliminates all or portions of the balances of the following accounts used in intercompany transactions:
- Intercompany accounts receivable account
- Intercompany accounts payable account
- Intercompany suspense account
- Regular, overhead, and promotional labor accounts used for labor adjustments and journal entries
- Regular, overhead, and promotional expense accounts used for cost transfers and journal entries
- Balance sheet and other accounts used for journal entries
- Tax accounts used for journal entries
In addition, when you set up a consolidation group, you can specify other accounts that you want Vantagepoint to eliminate when it processes a consolidation for that group. You identify these user-defined elimination accounts in the Eliminations section of the Consolidated Reporting Setup form.
Settings that Affect General Ledger Reports
You can only generate the cash-basis version of this report if you select the Cash Basis Reporting option on the Options form ( ).
The Organization Record Access setting for your role on the Overview tab of the Roles form ( ) determines the organizations for which you can see data on this report.
Drill Down for Detail
If you preview the Consolidated Elimination report, you can drill down on elimination amounts. The drill-down report displays the individual transactions for that elimination amount. The transaction amounts are displayed in the functional currency of the company that owns the transaction.
- Related Topics:
- Consolidated Eliminations Columns & Groups Tab
Use the Columns & Groups tab to select or clear columns, change column sequence, provide new column labels, set column widths, or select number and date formats. If you select a user-defined column for this report, the report does not display subtotals for that column. - Consolidated Eliminations Options Tab
Use the Options tab to select report options for the Consolidated Eliminations report and to save sets of options for reuse. - Consolidated Eliminations Layout Tab
Use the Layout tab to choose the types of formatting properties and visual characteristics to be displayed on your report. - Columns for Consolidated Eliminations Report
The following columns are available for this report.