Consolidating entries worksheet
When consolidating the group's financial statements, you only report income and expenses from outside of the group of companies.
Intra-group trading activity, such as a sale by the parent to the subsidiary, is eliminated as these transactions effectively cancel each other out.
That's because the net effect on the group is zero: the income earned by one entity is offset by the expense incurred by the other.
Eliminating intra-group activity in this way avoids the possibility of inflating revenues.
Say, for example, that your company buys a logistics business which you keep as a separate legal entity.
When one company has significant control over the other but does not have a controlling interest, for example, it owns 20 percent of the voting shares, it typically can use the equity method to account for ownership in the company.I might take on the challenge and use some VBA to do the validation (ex: preventing the fle from being saved/printed unless the debits equal credits, etc.), but I don't want to re-invent the wheel unless it's necessary. I have been asked to research the options available to us using Excel. Hi, I came across this post that you posted a couple of years ago. We used to have 2 "consolidating" companies setup that we used to enter all of our yearend consolidation/elimination entries.Did you ever have any luck with your consolidation problem?I also am in a situation where I am looking for an Excel consolidation solution for s group of companies, but doing monthly consolidations. Is there cheap accounting consolidation software out there?