Post a group adjustment journal
A group adjustment, such as an accrual, a reclassification or a difference in accounting rules, is a journal entry in Finconsol. It changes the group figures and never the companies' own books. One person drafts the entry and a second person approves it before it counts.
Draft an entry
- Open Journal entries, under Close, and choose New journal entry.
- Enter the date, the lines and the amounts, and say what the entry is for.
- Save it as a draft, then submit it for approval.
Journal entries change the group's figures. They never change a company's own books.
Approve it
A second person approves or rejects the entry. A preparer cannot approve an entry they created or submitted. An administrator can approve their own, and Finconsol records that no second person reviewed it.
Templates for common entries
Templates fill in the lines for entries the group makes often, such as the minority's share of profit and its share of the translation difference. You check the amounts and submit the entry as usual.
Reversing and repeating entries
An entry can be reversed, and an entry that repeats every month can be set up as a recurring entry.
Closed months
An entry dated in a closed month is refused. Reopen the month first, which needs an administrator and a reason. Closing and reopening a month explains how.