A common complaint at month end is that it’s hard to find what accounts are missing in Management Reporter. The most frequent scenario is that new accounts have been added in the GL, but they haven’t been added in Management Reporter, so now reports are out of balance. There is a little known tool in Management Reporter that will help you find those pesky missing accounts. It’s called the Missing Account Analysis. It will permit you to find not only missing accounts, but also missing account categories or other dimensions you might have included in your reporting requirements.
You are able to select the dimension or dimensions you wish to screen for missing items. Once you have determined which building blocks are missing items, you can go directly to the row format, tree or report that is affected by clicking on the appropriate icon next to the building block name. There is a refresh button at the bottom where you can see whether or no
This tool has been a huge time saver for me when trying to do troubleshooting of Management Reporter reports. I had to play around a bit to figure out what the best way to use it was, but it has definitely saved me an enormous amount of time. So for those who aren’t familiar with it, check it out. It will probably make up a key part of your troubleshooting process as well.
- If the intercompany accounts are translated using the current method, revalue the USD amount into the functional currency at month end. Make sure the month end rate used is the same rate that is used for translating the functional currency back to USD (the reporting currency)
- If these steps are followed, the result on the financial statements will be that the intercompany balances will auto-eliminate in the reporting currency.