Eide Bailly Non-Controlling Interest for Partially-Owned Subsidiaries
Non-Controlling Interest is a GAAP compliant solution. Designed for NetSuite OneWorld clients who have one or more subsidiaries that are partially owned by outside parties. The module automates all the accounting adjustments required to produce accurate consolidated financial statements using NetSuite's standard financial reporting. Eide Bailly's Non-Controlling Interest does not support Multi-Book implementations of NetSuite.
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Overview
Automatically produce accurate consolidated financials, including partially-owned subsidiaries.
Do you have subsidiaries that are partially owned by outside parties?
If so, do you spend hours every month wrestling with spreadsheets and imports to book the required adjustments?
NetSuite allows you to enter these adjustments manually, but Non-Controlling Interest takes the next step and automatically calculates and books the journal entries you need to produce accurate financial statements that exclude the equity, income or loss belonging to the outside owners.
Best of all - you can continue to use NetSuite's standard financial reports or any custom reporting app you are using now.
Key Benefits
- Automates the adjusting journal entries required in order to present accurate financial statements that include your partially-owned subsidiaries.
- Handles both the consolidation and equity methods as required for each subsidiary, regardless of your ownership percentage.
- Accounts accurately for interlocking investments between and among your subsidiaries.
- Provides an online audit trail of all entries generated for each run.
- Calculates all entries for a period in a single run.
- Supports current and prior period revisions with a simple undo/redo feature.
- Gives you complete control over which subsidiaries and accounts you want to use for the generated entries.
- Designed to work with NetSuite's native financial report writer, so you won't need any external applications and you can run your financials at any time.
Save time and reduce errors
Calculating and booking the entries required to adjust your books for outside interests is time-consuming and error-prone.
Non-Controlling Interest for NetSuite OneWorld does away with manual entry and calculations using spreadsheets or other external systems.
The system is built using NetSuite's scripting architecture, so you won't need any integration code or other applications, and it will adapt to each new NetSuite release.
The subscription and implementation costs are modest, and most clients will realize valuable time savings that exceed the costs from the very first year.
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Eide Bailly Non-Controlling Interest for Partially-Owned Subsidiaries
