Smartlist Builder to sort by Reporting Ledgers
As of the publication of our white paper, “Eliminations and Adjustments in Dynamics GP and Management Reporter”, standard SmartLists for Account Transactions does not have a sort field for Reporting Ledgers. Here is what you need to create an Account Transaction SmartLists by Reporting Ledger.
Basically, you have to rebuild the standard SmartLists, Financial>>Account Transactions, to bring in the field, Ledger_ID. GL40001 contains the needed descriptions for the Ledger_ID setup in GP.
There are other options and it is hoped that Microsoft will add this field to the standard SmartLists soon, as well as in the Detail Inquiry window.
Using separate Accounts dedicated to the IFRS and LOCAL Reporting Ledgers, as mentioned in the TIPS section above, this SmartList can be used to create an Alert to detect any Eliminations or Adjustment Account posted to the GL (“BASE”) ledger.
Continuing with the example in this white paper, using Account 000-1710-00 for the GL (BASE) Ledger and Account ELM-1710-00 for the Eliminations (IFRS) ledger, I would create two alerts:
- Alert where Accounts with Segment One containing ELM and Reporting Ledger equal to BASE.
- Alert where Accounts with Segment One between 000 and 999 and Reporting Ledger not equal to BASE.
SQL email alerts are also excellent to ensure you don’t miss this error.
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.
Our white paper, “Eliminations and Adjustments using Reporting Ledgers”, is intended for Accounting and Financial users and consultants that are responsible for producing consolidated financial statements in Dynamics GP and Management Reporter.
Request a free copy “Eliminations and Adjustments using Reporting Ledgers in Microsoft Dynamics GP® and Management Reporter” at http://unifiedbiz.com/eliminations-gp-mr/