Entity journals

Introduction

Entity journals are data related to a single entity that are used to “correct” original financial statement amounts. They are generally used to standardise the financial statements of entities in accordance with the accounting standards adopted by the group’s holding company and to standardise the financial statements to be aggregated.

Entity journals are created to record the following variations:

• variation in depreciation percentage
• variation in certain cost allocation criteria
• variation in the inventory valuation

Entity journals do not change the original data as they are created on the “Entity journals” category.

Entity journals can be inserted on original scenarios/periods by both the Contributor user and the Consolidator user.

Editor user	Description
Contributor	Entity journals are inserted on categories whose type is “Entity journals” by users authorised to enter amounts for the entity. The journals are subject to diagnostics and submitted together with the financial statements data.
Consolidator	Entity journals are inserted on categories whose type is “Consolidator entity journals” by users who are authorised to insert the consolidation journals of the first node to be submitted above the entity. The journals are submitted together with the consolidation journals of that node. Note: as consolidated financial statements can have several levels of consolidation, there can be several consolidators who operate on different levels of the group hierarchy.