Consolidating entries worksheet
With consolidation, you report the subsidiary's results on the parent's statements as if the subsidiary does not exist in its own right at all.General consolidation rules say you must consolidate whenever one company has a majority of the voting power in another company, meaning it controls at least 51 percent of the subsidiary's outstanding common stock.
The scope is therefore much broader than a balance sheet prepared for one legal entity on its own.
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.
Thank you We ended up using Excel to create our consolidation entries for us.
I have a macro in the Excel workbook which runs just prior to saving the Excel workbook which verifies that the debits are equal to the credits for each of our consolidation companies.