If you work with consolidated financials, you will likely have noticed our recent addition of the Data Review tool for consolidation eliminations, which allows you to review your account and transaction eliminations. In response to your feedback, we've made some improvements to this tool to make it quicker and easier to identify the accounts within an elimination as well as their amounts. Read on for all the details.
What's new 🧐
You now have the option to toggle elimination accounts on or off. To do this, navigate to Review and then Eliminations. You'll see a new toggle at the top right of your screen that says "Show elimination accounts."
Why we love this 💙
Simply put, this tool empowers you to easily identify the accounts in your elimination and their amounts, without showing the machinations of the elimination. This is powerful because it helps to quickly isolate where accounts are not reconciling, affording you the opportunity to investigate why those accounts are not fully eliminated.
By default, the elimination accounts will be toggled off. This cleans up the look of the tool and only shows you the accounts that make up the elimination, making it easier to review your elimination. Toggling off elimination accounts cleans up the look of the tool, making it easier to read and follow.
Toggling on elimination accounts shows the elimination workings so you can follow the flow of an elimination.
Closing thoughts 💭
Syft's elimination review tool saves you time and gives you confidence that your eliminations are offsetting intercompany transactions correctly. The addition of the toggle for elimination accounts means that it's now much easier to reconcile the differences in the netting accounts and find what's causing them.