IN THIS SECTION


Overview


The Eliminations tab on the Settings page allows you to exclude, or eliminate accounts or contacts from reports.  In any inter-company consolidation it can be important to exclude certain transactions such as inter-company loans to ensure the totals accurately represent a true picture of the consolidated entity.  You can do this in Joiin using Eliminations.  


With Eliminations you can:


Exclude

You can Exclude an Account entirely from your Chart of Account which means it will not appear in any reports.


Eliminate by Account

You can create Elimination Groups where accounts between two (or more) Entities can be eliminated and, if required, netting adjustments created. Marking accounts as eliminated will mean that the accounts and their balances will be removed from all Financial reports.


Eliminate by Contact

You can create Elimination Groups where contacts (customers and suppliers) between two (or more) Entities can be eliminated. Any transactions for the eliminated Contacts will be removed from the Joiin Sales & Purchasing reports. Marking contacts (customers or suppliers) as eliminated will mean that any transactions related to those contacts will be removed from all Sales & Purchases reports.


NOTE: Currently, Elimination by Contact do not affect Financial Reports - i.e. financial report account balances will not be adjusted to remove any transactions related to eliminated contacts. We will be adding this feature soon.


You can also group your exclusions and elimination groups into Elimination Sets so that you can quickly control which sets are applied to which reports.


Managing Eliminations

You can exclude and eliminate accounts or contacts through the Eliminations page.   


NOTE: You can change the way Eliminations are treated when you run a report by changing the eliminations setting on the report page - you can choose whether to remove eliminations, retain only eliminations, retain all accounts or display eliminations in a separate column - see Running Reports article for more information.



How to create Elimination Groups

Elimination groups allow you to select entities and specific accounts or contacts within those entities that are part of an inter-company transaction such as an inter-company loan. The selected accounts or contacts will be eliminated from your consolidated report and, if required, a Netting Adjustment will be added.


To add or remove Elimination Groups select the Eliminations page from the Settings menu at the top right.  A list of elimination groups and exclusions for the selected Elimination Set will be displayed. Exclusions will be marked with an E icon, Elimination Groups will be marked with a G icon. Contact Elimination Groups will be marked with a C icon.




Click on the Add Elimination Group button to create an Elimination Group.



  • Enter the name for the Elimination Group.
  • Select the method of elimination: by Account or by Contact.
  • Select the first company for one side of the Elimination. A list of accounts from that company's Chart of Accounts (or Contacts from the company's contact list) will be available for selection in the dropdown to the right.
  • Select the account(s)/contacts(s) that are to be eliminated for that entity - you can search for accounts/contacts by code or name.
  • Repeat for the second company.
  • The transactions on either side of the inter-company elimination should net off - e.g. one side might contain a Liability account and the other side an Asset account - so combined, they net off.
  • If required add additional companies by clicking on the Add Company button - and repeat the account/contact selection process.
  • You can remove companies using the Delete icon next to the company.
  • Choose whether a Netting Adjustment is to be added (see below).
  • Click Create Elimination Group button to create the elimination group.


The group will appear in the list of eliminations and the selected accounts will be eliminated from reports if that option is selected when Running Reports.


Editing Elimination Groups


You can change an Elimination Group by selecting Edit from the the three-dot menu to the right.


Removing Elimination Groups


To remove an elimination group from the elimination set, simply click on the three-dot menu to the right and select Remove elimination group.


Netting Adjustments

If Eliminating by Account, you can choose to enable the Add Netting Adjustment option for an elimination group. When you do this, Joiin will automatically add an adjustment line to reports to account for any discrepancies between the balances on either side of the intercompany group. 


While, in a single currency scenario, these balances should typically cancel each other out, factors like foreign exchange differences can cause small mismatches. The Netting Adjustment corrects for these differences, ensuring your reports remain balanced and accurate.




How to Exclude Accounts


Exclusions are used when you wish to eliminate a single account from all entities on all reports. For inter-company eliminations and more accurate reporting it is recommended to use an Elimination Group rather than an Exclusion.


To add or remove Elimination Groups select the Eliminations page from the Settings menu at the top right.  A list of elimination groups and exclusions for the selected Elimination Set will be displayed. Exclusions will be marked with an E icon, Elimination Groups will be marked with a G icon.




NOTE: Hovering over each excluded account will display a number to the right, indicating how many companies have that account in their Chart of Accounts. Hovering over that number will show the list of companies.



Click on the Add Exclusion button to exclude an account(s).


Select the account(s) you wish to exclude from the list. You can search for accounts by name or code to filter the list.


Once you have selected the accounts you wish to exclude, click on the Exclude button to exclude them


The account(s) will appear in the list of eliminations and will be excluded from reports if that option is selected when Running Reports.




Removing Eliminations


To remove an exclusion from the elimination set, simply click on the three-dot menu to the right and select Remove exclusion.



Elimination Sets


You can create Elimination Sets which are groups of eliminated accounts which can be applied when running reports. By default there is a single Default Elimination Set. To add another or change the name of the set click on the dropdown at the top of the list.



Click on the Add Elimination Set button to add a new elimination set.


Click on the pencil icon to edit the name of the elimination set.


Click on the delete icon to delete the elimination set. WARNING - if you delete an elimination set all the account eliminations associated with it will be removed.


Click on the Clone icon to make a copy of the elimination set.


To switch between elimination sets select the desired set from the dropdown.


Downloading Accounts with Elimination Status

You can download a list of accounts with a column showing their eliminated status through the Chart of Accounts page.