The next step is to set up the correct distribution of ownership between the group parent and each subsidiary. Click on the "Corporate Group" tab under the "Administration" tab. To create a new distribution of ownership, click on the three dots to the right of each company and select "Handle owner distribution”.
You will now have several options. The system will calculate the type of owner distribution between the parent company and the subsidiary. The available ownership types are Subsidiary, Associated company and Investment company.
To edit the ownership structure, click on the "New owner distribution" button.
Once the following is completed, click on "Save".
What happens at the start date?
It is from the start date that the system uploads data to the group. At legal level, there may be accounting data before the start date for the individual company. An acquisition adjustment is created if the purchase is made during the financial year, but if the purchase is made on the first day of the financial year, there will be an opening balance for subsidiaries. At the start date during the financial year, an accounting adjustment will be created for the start date with opening balances. Accounting transactions are imported into the group from the start date.
What happens at the end date?
There is a pure "divestment adjustment" on the closing balance for the end date in the accounting adjustment where the system zeros out all balance sheet accounts. The accumulated profit in the income statement for the year ends up as accumulated profit in Equity and has to be adjusted manually. Any eliminations made in that company must be handled manually and zeroed out after the disposal date.
Repeat the process until all ownership relationships between the companies are done. If the ownership relations are correct, the tags behind the group companies' names will disappear.
Don't hesitate to reach out to the support if you need assistance!