Accounts

Enter minority interests' transactions in Accounts Production Advanced

To enter a minority interests' transactions you'll need to take the following steps:
  • Enter the minority interest's share of profit/loss.
  • Create codes for the minority interest's share of the dividend.
  • Assign codes for the minority interest's share.
  • Update the opening balance assignments. 
  1. Enter the minority interest's share of profit/loss for the current year
  2. Post the minority interest's share of the profit for the financial period between the following codes:
    • 468.00 Non-controlling interests — Income statement.
    • 996.00 Non-controlling interests — Equity.
  3. Create codes for the minority interest's share of the dividend
  4. Select the
    Financial period
    ,
    Configuration
    , then
    Accounts
     to open the account code list.
  5. Select
    New.
  6. Create the following code: 988.02 MI — Ordinary dividend paid — Prior year final dividend.
  7. Create the following code: 988.03 MI — Ordinary dividend paid — Current period interim dividend.
  8. Select
    OK
    .
  9. Assign the new codes for the minority interest's share of the dividend
  10. Select the
    Import/Account Assignment
     tab.
  11. Select
    Account Assignment (Master) Maintenance
    .
    The two new codes you created are shown in the first pane.
  12. In the second pane, select the
    Balance - Balance
    , then
    Equity - Equity
     category folders to expand them.
  13. Drag and drop the two new codes from the first pane to the
    E10 — Non-controlling interest — Equity
     category folder in the second pane.
  14. Select
    Apply
    .
  15. Select
    Changes in
     equity from the
    Category Structure
     dropdown list. 
  16. In the second pane, select the
    SOCIE — Changes in equity
    , then
    SOCIE 2 — Dividends
     category folders to expand them.
  17. Drag and drop the 988.02 MI — Ordinary dividend paid — Prior year final dividend code to the
    SOCIE 2 1 — Final dividends
     category folder.
  18. Drag and drop the 988.03 MI — Ordinary dividend paid — Current period interim dividend code to the
    SOCIE 2 2 — Interim dividends
     category folder.
  19. Select
    OK
     to save the changes.
  20. Update the opening balance assignments
  21. Select
    Import/Account Assignment
     tab.
  22. Select the
    Opening Balance Assignment
     link.
  23. Select
    New
    , then
    New
     again.
    Accounts Production Advanced adds 2 rows to the Opening Balance Assignment table.
  24. In the first new row, enter
    E 10
     for the Category and
    997.00
     for the Account.
  25. In the second new row, enter
    NCI 1
     for the Category and
    980.00
     for the Account.
  26. Select
    OK
    .
You'll now be able to create a new accounting period and roll forward the correct opening balances to the new financial period.

This article applies to:

  • Product: Digita Accounts Production Advanced
  • Subject: Account grouping, Journal entries

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