Consolidation Reporting of Minority Interests

Overview:

This function allows you to produce financial reports to reflect a minority interest percentage ownership for a specific Office/s.

Use Case:

For example you have a business that you have set up as an OFFICE, for which you own less than 100% of the shares in that business and you want to reflect this percentage ownership in various financial reports.

Steps:

Starting from the main screen

1. Navigate to SET UP FILES > Offices

2. Select an OFFICE CODE hyperlink

3. Enter a percentage ownership for this office in the OWNERSHIP % field

The percentage ownership entered must be a whole number

4. Select SAVE or SAVE & CLOSE

By default this is defined as 100% for existing or new offices unless you override

When running a financial statement (all of the Profit & Loss and Balance Sheet reports have this capability), users can elect to only include that ownership % in the report.

On the financial report selection page, if you check the option box APPLY OWNERSHIP %?, then only the percentage ownership you have set will apply to the P&L values for that office in the report.

This option is available whether you are running the financial reports for each individual office or consolidating multiple offices into a single report.

So even if you owned 100% of some offices, and differing percentages for other OFFICES you can run a single P&L or Balance sheet reflecting only those percentages your company owns.