Consolidating entries worksheet
It creates a new workbook containing two worksheets.
The one worksheet contains a pivot table for the month selected (example: entries for the month of November 2013).
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.
Dividends you receive are deducted from this account.
To illustrate, suppose you buy a 30-percent interest in a business for 0,000.
The associate reports a net income of 0,000 and a dividend distribution of ,000, of which you receive 30 percent or ,000.
On the consolidated income statement, you would not record the payment to the subsidiary as an expense, nor the receipt by the subsidiary as revenue, since the two transactions effectively cancel each other out.
In a similar vein, dividends paid by the subsidiary to the parent will be recognized as income on the parent company's financial statements, but on the consolidated statements the dividend must be omitted.