COI- Error message-B/S-I/S balance 1.00 USD

Question

Hi,
I have got the following error message while running First consolidation of COI.
Balance sheet/income statement balance 1.00 USD Message no. UCD1011
Balance sheet/income statement balance 1.00 USD
Message no. UCD1011
Diagnosis
The document to be posted is not completely in balance.
Entries involving items of the balance sheet or the income statement must always have a zero balance to ensure that both the balance sheet and the income statement are balanced, respectively. This is not true in this case.
System Response
Entry cannot be posted.
Procedure
Correct the amounts for the balance sheet items and/or income statement items.
I have only values for investment as 1 dollar and equity value as 1 dollar and some other values for B/S accounts only. I have checked in the List of total records for subtotals of subsidiaries and corp for balances. They all have 0 balances.
I have tried correcting values as per message using manual posting adjustment. But system is not allowing me to correct that one dollar balance neither by crediting nor debiting. Because earlier balance is 0 as per messages in document posting also. Which is reconfirming the results of List of total records.
Location of values in COI config, opted for AFD,  for Investments and Equity data.
Did any body have had similar experience or can suggest some ideas for trouble shooting to resolve this error !
Another issue is, I have unchecked Display statistical items Box in COI configuration. But still seeing stat items in COI results. Is there any way to turn off this display, besides un-checking the above mentioned box.
Thanks,
KK

Answer 1

KK,
Check the hierarchy and make sure that when a cons unit is in the hierarchy in two places, that there is a split or shared ownership of that cons unit. Otherwise it should only be in the hierarchy in a single place.
Also, where a parent cons unit exists, it is normally in a hierarchy node below the node of its parent cons unit. For example:
*PP-US* top node
  AS1000 overall parent
  AS1001 sub cons unit 1
    *AUESTP* sub cons unit 2 node
      AS5000 sub cons unit 2 - parent unit to cons unit 3
      AS6000 sub cons unit 3
In the COI log itself, each cons group will include the lower cons units, because by default the belong to that group. So in the above example, AS6001 belongs to PP-US as well as AUESTP and will therefore appear in the log for both. In many cases the documents will only be in the level where the investee is stationed in the hierarchy.
For first consolidation, only purchase method documents occur for the elimination of the investment and corresponding equity. Because balances for equity held cons units are not included in reporting, there is no need for such elimination.
Minority interest is only applicable for purchase method cons units and will not calculate or post for equity held cons units.
I hope this helps.
Edited by: Dan Sullivan on May 13, 2008 3:31 PM
Edited by: Dan Sullivan on May 13, 2008 3:33 PM