Under the tab "Legal Accounting" any differences in the Closing Balance (CB) and Opening Balance (OB) for balance accounts are displayed for each local company (legal entity) between financial years. The premise in this tab is that the balance accounts should match OB and CB, meaning there should be no difference (although differences may occur).
Income accounts are reset to zero between financial years.
If a difference has occurred, it should be checked in the regular accounting software of the affected company and corrected. Then, a new SIE file is uploaded to Boardeaser.
This is a reconciliation to ensure everything is in order in the regular accounting software and should be checked at the beginning of each financial year.
Differences between financial years can occur if changes have been made in the regular accounting during the closing process.
A difference may arise when transferring the year's result to the legal reporting, and it has yet to be uploaded to Boardeaser and then to the consolidated data.
Suppose there is a discrepancy in the consolidation data reconciliation. In that case, you should first check the "Legal Accounting" tab to see if there is a discrepancy.
In the "Group data" tab, there is a reconciliation tab where you can check for any discrepancies in each local company within the group and discrepancies within the group (consolidation of all companies) for both balance accounts between financial years and per period.
Discrepancies in local companies can occur because the same accounting data has yet to be imported into the group (Group Data tab) as in each legal entity (Legal Accounting tab). In that case, you must import the accounting data into the group again.
Discrepancies may arise due to differences in the group's chart of accounts compared to each company and the use of account mappings in a local company.
Differences between financial years can occur if changes have been made in the regular accounting during the closing process (Auditor's Adjustments).
A difference may arise when transferring the year's result to the legal reporting, and it has not been uploaded to Boardeaser and then to the consolidation data.
Differences can arise if the current year's result in the group (Eliminations) has yet to be reclassified to the balance sheet.
Reconciliations of Opening Balance Elimination Categories
Under the "Reconciliations balance" tab, you can reconcile the eliminations made on balance accounts between financial years. Eliminations made on balance accounts can also be synchronized between financial years, so they do not need to be created again. For example, there is no need to eliminate the share capital in subsidiary companies every year. Instead, these eliminations can be carried forward between financial years. Click on "Synchronize OB" to synchronize the opening balance.
Reconciliation of Imported Opening/Closing Balance to Group Compared to Legal Accounting (Period)
This shows if there is any difference between Legal Accounting and Consolidation Data between two periods within the financial year. It only works for foreign subsidiaries as they are displayed in local currency at the legal accounting level and in the group's currency.
Don't hesitate to reach out to the support if you need assistance!