Financial tables are prepared to communicate the financial summary of a company's activities within a specific period to related persons in order to provide them with detailed information about the enterprise. Consolidated financial tables are also prepared for the same goal; however, unlike other financial tables, consolidated tables indicate the operations of more than one company.
While the preparation of financial tables such as balance sheet and income statements is both legally and economically mandatory; consolidated financial table preparation is only an economic requirement and has no legal characteristics. Consolidated financial tables consist of the combination of assets, liabilities, equities, incomes and expenditures of companies related to the same legal parties; in other words, in combination with the tables of the mother company. The LOGO applications allow financial tables to be reported in consolidation.
Definitions
Consolidation Codes:
Consolidation codes are entered for the companies in order to list multiple companies as a single company. Consolidation Code must also be entered on the Material and AR/AP cards in order to match the cards that will be included in the consolidation reporting.
These are codes added for company, material and AR/AP cards to group values for consolidated reporting. Code definitions are accessed through the Administration –> Company Info -> Consolidation definitions menu. The Consolidation Definitions list screen is listed depending on the selection made.
Company Consolidation Code:
Codes selected for the companies of which the data will be reported in consolidation. The Company Consolidation Code is accessed through the Company Working Info field. The selection is made by accessing the Consolidation Codes window by pressing F10.
Material Card Consolidation Code:
Codes used to group material cards. The Material Card Consolidation Code is accessed through the Material Card -> General Info field. The selection is made by accessing the Consolidation Codes window by pressing F10.
AR/AP Card Consolidation Code:
Codes used to group AR/AP cards. The AR/AP Card Consolidation Code is accessed through the AR/AP Card -> Other field. The selection is made by accessing the Consolidation Codes window by pressing F10.
AR/AP Card Group Company No:
These codes are defined to track companies related to the same Group Company when they are defined as AR/AP Cards and to consolidate (if required) transactions related to these AR/AP's. The AR/AP Card Group Company Number is accessed through the AR/AP Card -> Other field. The selection is made by accessing the Company Definitions window by pressing F10.
Once the company, material card and AR/AP card consolidation codes are defined and selected in card definitions, the regular process can be carried on. Like generating material, AR/AP and G/L transactions... After that the application groups and reports information based on the consolidation code.
The Group Company Transaction selection field is present in slips generating all material, G/L and AR/AP transactions within the application. If the consolidation codes of the processed AR/AP and the processed company are equal, the application checks "Group Company Transaction" option automatically. The users can remove this check, or check AR/AP transactions that are not related to the company manually. Group Company Transaction check mark is transferred to the G/L slips generated by posting slips – for which group company transaction is selected – to G/L. During the Batch Posting transaction, the Group Company Transaction check is controlled along with line merging criteria. Transactions that are not Group Company Transactions are posted separately even if they match the line merging criteria.
APPLICATIONS
The consolidation code for companies 1 and 2 is F_1.
Within company no. 1:
The consolidation code of material code A is M_1,
The consolidation code of material code B is M_2,
The consolidation code of AR/AP code C is C_1,
The consolidation code of AR/AP code D is C_2,
The consolidation code of AR/AP code E is C_3.
Within company no. 2:
The consolidation code of material code F is M_1,
The consolidation code of material code G is M_2,
The consolidation code of AR/AP code H is C_1,
The consolidation code of AR/AP code I is C_2.
The regular operation is carried on for defined materials and AR/AP cards; the material and AR/AP transaction is generated…
In reports resulting from transactions, materials and AR/AP's that have the same consolidation code and that are registered to companies with common consolidation codes are processed as a single card and reported with common values.
Consolidated Financial Tables
Reports added with version 1.70 to report consolidated information separately. The reports cover the Material Sales, AR/AP Credit/Debit Tracking and Financial Tables. This information is reported by grouping material, AR/AP and G/L transactions of companies with the same consolidation code based on their consolidation codes. During this reporting process, intercompany transactions (slips with Group Company Transaction check) are eliminated, and the sales and Credit/Debit amounts outside the group. The reports display the consolidation codes instead of card codes.
The common characteristic of Consolidated Financial Tables is that they require the Consolidation Code filter to be used in report filters. The filter selection can be made as a Group or Range.
Sales and Distribution
Consolidated Financial Reports
Total Sales
Sales Table
Finance
Consolidated Financial Reports
Debit/Credit Summary Report
Debit / Credit Totals
Consolidated Financial Tables
Added in order to report existing financial tables in consolidation. The common characteristic of Consolidated Financial Tables is that they require the Consolidation Code filter to be used in report filters. The filter selection can be made as a Group or Range.
General Ledger
Consolidated Financial Table Definitions
Balance Sheet
Profit/Loss Table
Cost of Sales Table
Fund Flow Table
Cash Flow Table
Dividend Table
Net Monetary Position Profit/Loss Statement
The columns of the Consolidated Financial Tables are dynamic. Past and Current Period information columns can be generated in the number of companies with Consolidation Code specified in filter line.
Before reporting the Consolidated Financial Tables, it is necessary to mention the Correction Slip. Correction slips are recorded by the user to balance amounts (like COGS) in consolidated companies. Correction Slips that do not affect account totals are reflected on Consolidated Financial Tables but not on Financial Tables. The slip is accessed by selecting the Consolidation Correction Slip (no 9) on the G/L Slips list screen.
(Lets assume that companies A and B are tracked and reported with the same consolidation code.
Company A purchases a product for 150 TL and then sells to B for 200. And company B is selling the same product to Company C –which is not a group company- for 250 TL. Considering companies A and B separately, the COGS for company A is 150, while for B it is 200. However, considering the Group Company logic, the original COGS is 150 TL and this should be the amount to be calculated in company B. The Consolidation Correction Slip is used to reflect the difference of 50 TL on the system.)
Furthermore, the following G/L reports can also be listed by selecting Correction Slip on the slip type filter.
- G/L Account – Foreign Currency Totals
- G/L Account / O. Head Pool Distribution
- Trial Balance Between Two Dates
- Trial Balance between Two Dates Incl. Opening
- Activity between Accounts Totals (Table)
- Activity between Accounts Totals (List)
- Summary Slip List
- Detailed Slip List
- Overhead Pool Summary Report
- Overhead Pool Totals in F. Currency
- Overhead Pool/Account Distribution
- Overhead Pool Transactions
- Overhead Pool Extract
Reporting In Excel
In addition to reports available within the application, Profit/Loss and Balance Sheet tables are prepared using Excel Navigator functions. The tables contain the Consolidation Info button which allows access to an entry screen for information to be consolidated.
The date range, company numbers to be consolidated and the company number for which the correction records will be listed are entered, and the amounts are calculated.