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Hi all - does anyone consolidate entities whihc are not 100% owned and how do yu deal with non-controlling interests?

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Best answer by Gabriel Michaud 25 April 2022, 18:01

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Userlevel 7
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@purwandaruw47 thanks for tagging me in the post. It is definitely something that we can handle with Velixo

@dcarman90 are all the entities you’re looking to consolidate using Acumatica? Here’s how we did it in the past with a client using Velixo:

  • 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.

 

Userlevel 7
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Hi @dcarman90 

Can you please elaborate your requirement. I guess you want to bring in part of entity numbers (to the extent of controlling interest) in to consolidation tenant?

Can you use a Branch/Company within such entity and only use that data for consolidation?

Regards,

Userlevel 2
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Hi all - does anyone consolidate entities whihc are not 100% owned and how do yu deal with non-controlling interests?

Hi,

 

Seems that the possible way using Velixo to handle outside Acumatica with that questions. I have same case also with my prospect in Indonesia. 

Or @Gabriel Michaud can create some function on Velixo for further improvement?

 

Thanks. 

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