Solved

Net income in balance sheet vs P&L - elimination column

  • 1 February 2022
  • 2 replies
  • 237 views

Hello,

 

My Consolidated P&L report is eliminated but the consolidated net income under my balance sheet does not match with consolidated income statement.

 

The net income figure that the balance sheet report pulls is a combination of parent and subsidiary without the elimination of interco transactions. It is drawn from the account class NETINCOME from respective entity. 

 

I need help on how to make them tie under the report definition.

 

Thank you in advance.

 

Thank you.

 

Regards,

Cherlene

icon

Best answer by vkumar 2 February 2022, 05:28

View original

2 replies

Userlevel 7
Badge +11

Hi @cherlene 

Intercompany transactions are in what GL accounts and in what account class ? You can move them to separate account class if you prefer to exclude from an existing account class. 

Regards,

 

Userlevel 5
Badge

Hi @cherlene 

Intercompany transactions are in what GL accounts and in what account class ? You can move them to separate account class if you prefer to exclude from an existing account class. 

Regards,

 

Wondering the same thing - are you suggesting interco revenue & interco expense changes account classes? How would this change the fact that they are income & expense account types which would still feed into the Net Income / Current Earnings calculation?

Reply


About Acumatica ERP system
Acumatica Cloud ERP provides the best business management solution for transforming your company to thrive in the new digital economy. Built on a future-proof platform with open architecture for rapid integrations, scalability, and ease of use, Acumatica delivers unparalleled value to small and midmarket organizations. Connected Business. Delivered.
© 2008 — 2024  Acumatica, Inc. All rights reserved