Accounting adjustments are an intermediate step between legal accounting and consolidated data. Here, adjustments can be made to the local accounting without affecting the regular accounting system. For example, if a company's accounting is incorrect but locked by an accounting firm, the adjustment can be made in Boardeaser under Accounting Adjustments. In this tab, one can also book the period's results in their companies without affecting the regular accounting system.
What should I do if my companies have different fiscal years in the group?
Suppose a company in the group has a different fiscal year than the group (heterogeneous groups). In that case, the group needs to book the accumulated profit for that company with the different fiscal year to Equity to present an accurate picture of the company at the end of the group's fiscal year. The client can do this through accounting adjustments, reversed when the year's results are booked in Equity after the company's regular fiscal year ends.
When should I adjust the accumulated profit?
You should adjust the accumulated profit at the end of the fiscal year after the regular booking has been made in your accounting program.
What does the "reset button" mean?
The reset button means the system provides a proposed adjustment that should be made and changed when saved.
I have disposed of a company; how does it work with accounting adjustments?
When a group has sold, disposed of, or merged a company by setting an end date in the Ownership Distribution tab, the accounting adjustments will automatically book balances. The system will reset all balances in the disposed company by offsetting all balance values. The accumulated profit on the income statement and any made eliminations in the disposed of company must be handled manually. The accumulated profit on the income statement is added to Equity and reversed against the income statement account 8999 on the date of disposal. Made eliminations are removed on the day after the disposal date so they do not remain.