Has anyone figured out how to get "whole dollar" financial statements to come out right using excel for consolidations?
I use Excel for consolidation spreadsheets. There are tabs for the Balance Sheet and the Income Statement. These tabs "pull" account balances from trial balances that have dollars and cents. Most of the line items on these tabs have several individual accounts that roll up (are combined) to arrive at summary amounts, e.g. the line "cash" on the Balance Sheet consists of several individual accounts ... checking $100.75 + savings $1,000.33 + money market $15,000.46 are all combined to be total cash of $16,101.54. This amount would need to be rounded up to $16,102 as our audited statements are in whole dollars.
Where this gets complicated is I have five separate companies that are each in their own column on the Balance Sheet and Income Statement tabs. It never fails that when I take the dollars and cents of the individual accounts and combine them into whole dollar amounts that the results are out of balance by a dollar here, two dollars there, etc.
I use Excel for consolidation spreadsheets. There are tabs for the Balance Sheet and the Income Statement. These tabs "pull" account balances from trial balances that have dollars and cents. Most of the line items on these tabs have several individual accounts that roll up (are combined) to arrive at summary amounts, e.g. the line "cash" on the Balance Sheet consists of several individual accounts ... checking $100.75 + savings $1,000.33 + money market $15,000.46 are all combined to be total cash of $16,101.54. This amount would need to be rounded up to $16,102 as our audited statements are in whole dollars.
Where this gets complicated is I have five separate companies that are each in their own column on the Balance Sheet and Income Statement tabs. It never fails that when I take the dollars and cents of the individual accounts and combine them into whole dollar amounts that the results are out of balance by a dollar here, two dollars there, etc.
