Consolidated Forecasting - Eliminations

When you work with a group of entities, there may be situations where one entity within the group sells or buys from another. If you want to adjust your reports to account for these inter-entity transactions, you can do this automatically in Spotlight Forecasting.

To set up eliminations

There are two ways in which you can eliminate values for an account; for a single entity, or for all entities which contain that account.  If required, you can also make a manual adjustment to the eliminated actuals for accounts receivable/payable accounts.

Eliminating values for a single entity

  1. Open the Customise Data tab, then open the section that contains the account(s) you want to eliminate, for example Revenue.
  2. Click Edit Eliminations.

    Edit Eliminations2

  3. Locate the account you want to eliminate, then click the 'plus' sign to the left of the account name. The names of all entities which contain that account then appear.

    Plus Sign2

  4. Select the check boxes alongside the entity for which you want to eliminate values.

    Entity Select

  5. Once you've selected all required entities, if required, repeat the process for any additional accounts.
  6. To save the changes, click Save Eliminations.

    Save Eliminations

    The value for the account(s) for each relevant entity is reduced to zero in the data grid.

Once you've saved the changes, each account which is being eliminated is marked with an 'E'. If required, you can click the plus sign alongside the account to check which individual entities are eliminated. 

Eliminating values for all entities

  1. Open the Customise Data tab, then open the section that contains the account(s) you want to eliminate, for example Revenue.
  2. Click Edit Eliminations.

    Edit Eliminations3

  3. Select the check box alongside each account that you want to eliminate.

    Account Select

  4. To save the changes, click Save Eliminations.

    Save Eliminations2

    The value of each selected account is then reduced to zero in the data grid.

Once you've saved the changes, each account which is being eliminated is marked with an 'E'.

To adjust accounts receivable / payable

If you need to, you can enter specific values to adjust the amounts eliminated for accounts receivable / payable during periods of actuals.

Note: Before using this option to adjust the amounts eliminated for accounts receivable and accounts payable, you must have added an elimination for the account in at least one entity. For information about how to do this, please refer to the previous sections.

  1. Open the Customise Data tab, then open the Current Assets or Current Liabilities section.
  2. Click Adjust AR & AP.

    Adjust AR AP

  3. From the Financial Year drop-down list, choose the year you want to adjust.
  4. Enter the required values to adjust by in the monthly boxes for the relevant entities.

    Note: You must enter the value in the currency of the individual entity, rather than the group currency.

  5. Once you've entered all values, click Apply.

The data grid is updated to incorporate your adjustments.

To remove an elimination

  1. Open Customise Data, then open the section containing the elimination you want to remove.
  2. Click Edit Eliminations.
  3. If required, click the plus sign to drill down to view individual entity values.
  4. Clear the check boxes for any eliminations you want to remove, then click Save Eliminations.

The elimination is removed and the data grid once again reflects the value in the account.

Troubleshooting

An 'Elimination Adjustments' line appears on the balance sheet or profit and loss report


This happens when the values in the accounts selected for elimination do not cancel each other out. To resolve this, check that all relevant accounts have been set up with eliminations, and that no incorrect accounts have been added.  If there is still a value on the Elimination Adjustments line, one possible cause is a variation in the exchange rate.

The values for my accounts look incorrect in the data grid

When you eliminate a value, this is removed from the data grid in Customise Data immediately. This is so that the data grid reflects what will be shown on the final report.

 

 

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