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ELIMINATIONS AND ADJUSTMENTS USING REPORTING LEDGERS IN MICROSOFT DYNAMICS GP® AND MANAGEMENT REPORTER

3rd in the Consolidation Accounting Series, “Eliminations and Adjustments using Reporting Ledgers in Microsoft Dynamics GP and Management Reporter”

eliminationsThe purpose of this White Paper, the 3rd White Paper in the Consolidation Accounting Series for Dynamics GP, is to provide design concepts for performing Elimination and Adjusting entries using Reporting Ledgers for Consolidation Accounting in Microsoft Dynamics GP and Management Reporter.

Overview

Starting with the release of Dynamics GP 2010 reporting ledgers were introduced.  Reporting Ledgers provide 3 financial ledgers, the general ledger (BASE) and two optional reporting ledgers.  This allows for the separation of financial adjustments (Statutory adjustments, Eliminations, Transfer pricing, etc.) from the general ledger.

Before reporting ledgers, to separate management reports from published financial statements, organizations would add separate accounts or maintain separate company databases for these types of adjustments.

This White Paper focuses on setting up and using Microsoft Dynamics GP Reporting Ledger in Management Reporter for managing Elimination and Adjusting entries for Consolidation Accounting.

Contents

  • Turning on Reporting Ledgers in Dynamics GP
  • Elimination and Adjusting Entries
  • Consolidation Scenario
  • Parent Company Eliminations and Adjusting Journal Entries
  • Management Reporter Consolidated Balance Sheet
  • Management Reporter Consolidated Income Statement
  • Transfer Pricing and Reporting Ledgers
  • TIPS
  • SmartLists Builder for Reporting Ledgers

Summary

Managing elimination entries for multiple subsidiaries requires more than just a link to an Excel spreadsheet.  With the increased focus on audit trails and internal controls for SOX compliance, Dynamics GP’s addition of reporting ledgers provides the needed controls for Consolidation Accounting.

This white paper is intended for Accounting and Financial users and consultants that are responsible for producing consolidated financial statements in Dynamics GP and Management Reporter.

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