Hi all - does anyone consolidate entities whihc are not 100% owned and how do yu deal with non-controlling interests?
Consolidation
Best answer by Gabriel Michaud
- Setup one connection per entity
- Define how accounts/subaccounts should be consolidated (this can be skipped if all entities share a common chart of accounts)
- In your report, define the % of ownership of each entity
- In the income statement and balance sheet, report the income, expenses, assets and liabilities as desired
Since Velixo gives you full control on the formulas at the cell level, it becomes very easy to add together data from many entities, each with different percentages and report them at a consolidated level.
While not specific to Velixo, this article explains how non-controlling interests should be handled in consolidations: Non-Controlling Interest in Consolidations - eCapital Advisors
I’ll be happy to discuss this in greater detail, you can send me a private message if desired.
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