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Consolidation is done for several companies with different currency.
During the process, all intercompany accounts must be eliminated. But the actual elimination rules process is not optimal.
Elimination transactions are retrieved with original company currency. Elimination journal is balanced in different currency but not on consolidation company currency. Then journal cannot be posted.
Workaround
Run Elimination rules to identify exchange rate adjustment
Workaround A
* After each elimination, modify Elimination rules and add line for elimination rules for fixed amount with exchange rate adjustment
* Run new elimination rules
* Journal should then be balanced
Workaround B
you can also add in General ledger parameters penny differences for the exchange rate difference value (to be changed after each elimination)
During the process, all intercompany accounts must be eliminated. But the actual elimination rules process is not optimal.
Elimination transactions are retrieved with original company currency. Elimination journal is balanced in different currency but not on consolidation company currency. Then journal cannot be posted.
Workaround
Run Elimination rules to identify exchange rate adjustment
Workaround A
* After each elimination, modify Elimination rules and add line for elimination rules for fixed amount with exchange rate adjustment
* Run new elimination rules
* Journal should then be balanced
Workaround B
you can also add in General ledger parameters penny differences for the exchange rate difference value (to be changed after each elimination)
STATUS DETAILS
Needs Votes
Comments
I encountered this same issue. Hope a resolution to this will be included on the upcoming version updates.
- The elimination journal should convert correctly the amount from Accounting currency of the legal entities (i.e. not consolidation company) to the currency of the Consolidation entity. or
- Since elimination journal can be only a proposal elimination journal the ability not just to review but also the edit the lines and amount should be available as Ankit Arora mentioned.
Category: Consolidations
There should be some option to balance the elimination journal amount. It would be better if system allowed to add manual journal line in proposal journal so that difference amount could be posted in required debit/credit.
Category: Consolidations