Some
Accounts are Plug Accounts. The Plug Accounts are identified through a
relationship with the Dimension Tech Account for Select that permits the
identification of the Account where, example given, the TB of the
IC Elimination must be rebalanced.
The BFC provides a List of pre-packaged Tech Account for Selection that drives the user upon the identification of the existing Plug Account or the creation of additional ones that are mandatory for the good working of the Application.
> Drii to Check TAB
For each Tech Account for Select it is displayed the related Account.
> number is how many accounts are related to "the tech account for select" item (mostly 1 to 1)
> red highlight that no account is related to the "tech account for select" item ; drilling down shows which one
> the "insert new member" icon provides the capability to create new plug account.
> Plug Assignment TAB
In the Plug Assignment TAB you can change the relationship between Account and the Tech Account for Select. Basically you are changing the Account that will be targeted by those data flows that work driven by the selection of the "Tech Account for Select" dimension.
Select the Proper Tech Account for Selection and press Save.
Only Leaf Account can be linked.
Suggestions
> it is mandatory that each Tech Account for Select item has its own child. Differently some of the Procedures (eg the Automatic Adjustment Procedure) fail.
> You can create new Plug Account and new Tech Account for Select but the logic (procedures) must be created from the scratch. We invite you to use this approach for better troubleshooting with Support in case of customizing.
Template pre-defined Tech Account for Selection (Plug Accounts)
The Following Plug Account must be are provided and linked to the related Tech Account for Selection:
| Tech Account for Select | Short Description |
010 Profit for the period (Company Level) |
It identifies the Profit Account of the Reporting Unit. It is calculated as difference between Revenue and Expense. The nature of this Account is Equity and it is the only admitted Profit Account. |
015 Retained earnings (Company) |
It identifies the Retained Earnings Account : it is calculated during the re-opening of the FY |
020 Plug (IC Eliminations of Financial Credits/Debits) |
It identifies the Account to re-balance the IC Elimination (L10-01) |
030 Investment elimination Plug-Bridge (All Costs) |
Tech Account : it has no business meaning but must be created to calculate the impact of investments in subsidiaries has on the counterpart balance sheet (L10-02) |
040 Profit/Loss Conversion Difference |
It identifies the Account to book the effect on Profit Account (010) due to the Exchange Rate Difference (AVG X-Rate vs CLO X -Rate) on L06 |
060 Plug (IC Eliminations of Operational Revenue and Expenses) |
It identifies the Account to re-balance the IC Elimination (L10-01) |
070 Group Conversion Reserve |
It identifies the Account to book the Exchange Rate Effect on all Equity Accounts converted at HIS x-rate (HIS X-Rate vs CLO X -Rate) on L06 |
071 Minority Conversion Reserve |
It identifies the Account to book Minority Interest for Exchange Rate Difference |
080 Group Consolidation Reserve |
It identifies the Account (Group Holding) which holds the Consolidation Reserve after the elimination of investment in subsidiaries and net equity (L10-02 and L10-03) |
081 Minority Consolidation Reserve |
It identifies the Account (Third Parties) which holds the Consolidation Reserve after the elimination of investment in subsidiaries and net equity (L10-02 and L10-03) |
090 Plug (IC Eliminations of Financial Revenue and Expenses) |
It identifies the Account to re-balance the IC Elimination (L10-01) |
130 Group Retained Earnings |
It identifies the Account (Group Holding) which holds the Retained Earnings from 015 Retained Earning Account (L10-04) |
131 Minority Retained Earnings |
It identifies the Account (Third Parties) which holds the Retained Earnings from 015 Retained Earning Account (L10-04) |
140 Group Profit / Loss |
It identifies the Account (Group Holding) which holds the Profit & Loss from 010 profit for the Period (L10-04) |
141 Minority Profit / Loss |
It identifies the Account (Third Parties) which holds the Profit & Loss from 010 profit for the Period (L10-04) |
150 Dividends received in P/L statement (from Subs or Parent) |
It identifies the Account for Dividend paid in Subsidiaries (@ Global or Proportional Method) (L10-5) |
160 Plug (IC Eliminations of Operational Credits/Debits Accounts) |
It identifies the Account to re-balance the IC Elimination (L10-01) |
170 PnL - Finance Income from Revaluations of Investments |
It identifies the Account to book the Income from Investment in Subsidiaries Revaluation (L10-02) |
180 PnL - Finance Expenses from write-downs of Investments |
It identifies the Account to book the Charge from Investment in Subsidiaries Devaluation (L10-02) |
195 Investment in EQUITY Subsidiaries Revaluation |
Difference between Investment and Net Equity of RU Consolidated @EQUITY |
200 Profit on Investment in EQUITY Subsidiaries Revaluation |
It is the effect on the P&L of the 195 Plug Account Calculation |
| 205 Custom Plug Account | Available |
| 210 Custom Plug Account | Available |
| 225 Custom Plug Account | Available |
Additional information about the logics of plugging and the procedures are available in the Chapter 5 - Consolidation Procedure.