Field descriptions: Ownership structure periods and Consolidation rules

Enter the percentage number indicating the portion of the subsidiary entity that the parent entity owns. Enter the percentage in numbers greater than 0 and not as a decimal less than 0. Given a percentage owned value of 80%, enter 80 and not 0.80.

As an example, if one or more third parties own 20% of the subsidiary entity, then the ownership percent for the subsidiary entity is 80%.

Select the relevant method of consolidation for the subsidiary entity:

• Full consolidation: Select to consolidate all of the subsidiary’s account activity at 100% of the subsidiary's equity.
• Consolidation: Select when the parent entity has controlling interest of the subsidiary with ownership less than 100%. The Consolidation method records 100% of the subsidiary's account activities. Intacct determines the net income or loss for the subsidiary and multiplies that amount by the non-controlling interest percentage (NCI). Intacct posts this calculated amount to the net income attributable to NCI account. Intacct posts the offset amount to the NCI equity account. For example, if a parent entity owns 95% of a subsidiary, then 5% of the subsidiary's income is allocated to non-controlling interest. When consolidating the ownership structure, Intacct automatically generates a non-controlling interest entry to record these amounts, thus preventing any overstatement.
• Equity: Select when a subsidiary has more than one parent entity, where one parent entity or more owns a non-controlling percentage of the subsidiary entity. For example, suppose that you have a subsidiary entity E300 with two parent entities that own 80% and 20% of the subsidiary, respectively. Apply the Consolidation method to parent entity A (E100, that owns 80%) and the Equity method to parent entity B (E200, that owns 20%).
• Proportional: For management reporting only. Select to consolidate by recording the percentage of ownership you defined. The proportional consolidation method distributes the account activity of an entity based on the percentage defined.

If you’re allocating subsidiary income to the parent entity, then select the account to record investment in the subsidiary current period income.

This field is only visible when you select Allocate subsidiary income to parent entity.

If you’re allocating subsidiary income to the parent entity, then select the account for recording revenue generated by the subsidiary entity.

This field is only visible when you select Allocate subsidiary income to parent entity.

This read-only field shows the investment in subsidiary account that you selected in the Ownership accounts section. Intacct always generates an elimination entry for this amount.

This field is only visible when you select Allocate subsidiary income to parent entity.

This read-only field shows the subsidiary revenue account that you selected in the Ownership accounts section. Intacct always generates an elimination entry for this amount.

This field is only visible when you select Allocate subsidiary income to parent entity.

Enter a book name when creating a new book for the reporting group, or view the name of the current selected book. Best practice: use only letters, numbers, periods, underscores, and dashes for the book name. You cannot change the name of a book after creating the book.

Enter any description that you want for a new book, or view the description of the current book.

Select the reporting currency used by the book. This defaults to the parent entity base currency, but it can be changed.

Select or view the exchange rate translation method to be used for balance sheet accounts. This defaults to ending spot rate.

Select or view the exchange rate translation method to be used for income statement accounts. This defaults to weighted average rate.

Select or view the account that will be used for cumulative translation adjustments for net assets for this book. This is the account where currency conversion rounding transactions will be posted for balance sheet accounts.

A best practice is to track CTA (Cumulative Translation Adjustment) for Net Assets and Net Income in the same GL account.

Select or view the account that will be used for currency gain and loss for net income for this book. This is the account where currency conversion rounding transactions will be posted for income statement items.

A best practice is to track CTA for Net Assets and Net Income in the same GL account.

Elimination entities are shell entities that are used only for posting consolidation entries for a consolidation book.

• The elimination entity is where Consolidation posts consolidation entries. These include: elimination transactions for inter-entity activity, currency translation adjustments, and non-controlling interest entries.
• If you have consolidation books in different currencies, the elimination entity currency must match the reporting book currency.
• If you're using Advanced Ownership Consolidation, a best practice is to create a unique elimination entity for each reporting book in the ownership structure.

Select the elimination entity that you want to use for the book.

When consolidating a book, whether global or domestic, Intacct posts IET elimination adjustment entries to the elimination adjustment account.

• Global Consolidation: Select an elimination adjustment account to automatically record CTA and elimination variances and bring to zero the account balances of automatically eliminated accounts.
• Domestic Consolidation: Select an elimination adjustment account to automatically record elimination variances and bring to zero the account balances of automatically eliminated accounts.

Select the elimination adjustment account that you want to use for the book.