Exact Synergy Enterprise

Creating and Modifying Elimination Entries

Introduction

At this screen, you can create elimination entries. The following setup must be in place before creating elimination entries for a reporting entity.

1. Define the division as a reporting entity in its division card. For more information, see Creating Division.

2. Define the presentation currency in its division card. For more information, see Creating Division.

3. Complete the G/L mapping between the reporting entity and its subsidiaries. For more information, see Mapping General Ledger Account.

Menu path

Go to Financial/Reports/Financial consolidation/Elimination entries, and then click New.
Go to Financial/Reports/Financial consolidation/Consolidation worksheet. Type or select a division at Reporting entity and the Entry button will be displayed. Click the Entry button, and then click New.

Roles & rights

To create elimination entries, function right 30 – Create elimination entries is required. To process elimination entries, function right 35 – Approve or process elimination entries is required. By default, users with the General Manager and Controller roles have these function rights.

For more details on what you can do with function rights or levels, go to System/Setup/Security/Function rights, select the required module, and then click on the relevant ID. To find out the functions you can perform with a particular role, go to System/Setup/Security/Roles, type in the description, click Refresh, and then click the required link under the Role column.

Button

New

Click this to create a new elimination entry.

Delete

Click this to delete the unprocessed elimination entry. A message “Confirm: Delete?” will be displayed. Click OK to delete or Cancel to exit.

Process

Click this to process the elimination entry. Once an elimination entry has been processed, it is possible to reopen the entry to make adjustments or to delete the entry. For more information, see Reopening Processed Elimination Entries.

Close

Click this to exit.

Description

Division

Type or select a division to create the elimination entries. For more information, see Creating Division.

Reporting entity

Type or select a reporting entity to create the elimination entries.

Note: The relationship between the reporting entity and its divisions has to be defined at the division card first. For more information, see Overview of Linked Divisions.

Entry no.

This is automatically filled in when you press the TAB key through the fields.

Reverse in next period

Select the check box to automatically reverse the entry in the next period.

Results section

In this section, tab through the columns to fill in the Date, G/L, Description, Presentation currency of the reporting entity, Account (Division), Account (Reporting entity), Debit, and Credit amounts.