Related party transaction disclosure
Does anyone has a recommendation or best practice of automating related party transaction disclosure in GSR? Currently we can upload the TB with Affiliate codes (i.e. intercompany codes) and map to corresponding COA accordingly. However, there are expected challenges of:
1) There will be multiple intercompany definitions (related companies, affiliates, holding company) of individual reporting entity. If an individual reporting entity shares same COA, it can't handle different intercompany relationship definition unless we customerize many more COA columns to tailor each of their intercompany relationship.
2) Dr and Cr balance. If I pre-define an intercompany account COA as "Amount due from a related company", however, next year the account balance becomes Cr or negative balance, it will be still mapped to Amount due from a related company. Is there any logic or condition we can build in COA and automate "due from" or "due to" ? Currently, we can only handle it by manual reclassification via ADJ.
Thanks for your sharing
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