Configuring the Bank Balancer Account Assignments driver

The Bank Balancer Acct Assignments driver table contains driver inputs for the Bank Balancer utility.

To configure the Bank Balancer Acct Assignments driver file:

  1. From the Command Center home page, click Financial Planning.
  2. Open the budget, scenario, or forecast for which to edit the driver.
  3. Click the Drivers & Assumptions tab.

  4. Click the Bank Balancer Acct Assignments link.

    NOTE: The driver opens in the Desktop Client and displays the BUDXXXX Balancer Acct Assignments sheet by default. This sheet is configured to handle up to 25 companies.

  5. Provide the following inputs for each company that will be processed using Axiom Bank Balancer.

    Input Entry Requirements
    Company

    Double-click the ellipsis to select the ID number of the company to balance.

    NOTE: Add companies in the order in which consolidation traditionally occurs.
    Balancing Department Double-click the ellipsis to select the department to which balancing entries will be posted.
    Asset Balancing Account Double-click the ellipsis to select the asset balancing account that is used if the net balance required is a debit.
    Interest Income Account

    Optional. Double-click the ellipsis to the left of the column to select the interest income account related to the asset balancing account.

    TIP: If the asset balancing account is non-interest bearing then populate with 0.
    Asset Acct Interest Index

    For interest-bearing asset balancing accounts, double-click the ellipsis to the left of the column to select the interest index from the interest-rate drivers that will be used to calculate interest income for asset balancing entries.
    Liability Balancing Account For interest-bearing liability balancing accounts, double-click the ellipsis to select the interest index of the interest-rate driver used to calculate interest expense on projected balancing entries added to liabilities
    Interest Expense Account Optional. Double-click the ellipsis to select the interest expense account related to the liability balancing account. If the liability balancing account is non-interest bearing, then populate with 0.
    Liability Acct Interest Index Optional. Populate for interest-bearing liability-balancing accounts. This is the interest index that will be used to calculate interest expense of liability balancing entries.
    Tax Account Double-click the ellipsis to select the account to which the tax expense entry related to the balancing entry will be posted.
    Retained Earnings Account Double-click the ellipsis to select the retained earnings account to which incremental net income related to the balancing entry will be posted.
    Dividends Payable Account

    Optional. Double-click the ellipsis to select the account to which dividends paid to parent companies or shareholders will be posted. As the bank balancer is processed, it debits the retained earnings for the dividend amount and credits the dividends payable account.

    NOTE: Populate this setting only for those subsidiaries for which the Axiom Bank Balancer needs to account for dividends paid to parent companies or shareholders.

    Dividends Statistic Account Optional. Double-click the ellipsis to select an account for capturing dividend amounts as statistical account balances that can be referenced for reporting purposes.
    Parent Company Equity Earnings in Subs Acct

    Optional. Double-click the ellipsis to select the respective subsidiary company account for booking its equity earnings.

    NOTE: Populate this setting only you want the Axiom Bank Balancer to post the consolidating entry for parent company’s equity in the earnings of the subsidiary.
    Parent Company Equity in Subs Dept

    Optional. Double-click the ellipsis to select the respective subsidiary company department for booking its equity earnings.

    NOTE: Populate this setting only when populating the Parent Company Equity Earnings in Subs Acct setting, which together define the account/department combination into which the equity earnings in subsidiary amount is booked.
    Parent Company Investment in Subs Acct

    Optional. Double-click the ellipsis to select the respective subsidiary company account in which the parent company books its investment in the subsidiary company.

    NOTE: Populate this setting only if you want the Axiom Bank Balancer to post the consolidating entry for parent company’s investment in subsidiary.
    Parent Company Investment in Subs Dept

    Optional. Double-click the ellipsis to select the respective subsidiary company department in which the parent company books its investment in the subsidiary company.

    NOTE: Populate this setting only when populating the Parent Company Investment in Subs Acct setting, which together define the account/department combination into which the investment in subsidiary ending and average balances are booked.
    Intercompany Borrowing?

    Optional. Select Yes only if the liability balancing account is an intercompany borrowing to post a counterparty entry to it.

    NOTE: When this option is set to Yes, as the bank balancer creates a liability balancing entry to the company that it is balancing, it simultaneously posts an asset entry to the asset account of the counterparty company that makes advances to the balancing company.
    Counterparty Department Optional. Double-click the ellipsis to select the department in the counterparty company that holds the intercompany advance balance. Leave blank if a counterparty entry will not be made.
    Counterparty Balance Sheet Account Optional. Double-click the ellipsis to select the asset account number for the advance made by the counterparty. Leave blank if a counterparty entry will not be made.
    Counterparty Income Statement Account Optional. Double-click the ellipsis to select the interest income account of the advance made by the counterparty. Leave blank if a counterparty entry will not be made.
    Manual Entries Statistic Account

    Optional. Double-click the ellipsis to select the account in which manual entries are made to statistical accounts that can be referenced for reporting purposes.
  6. Click the Save button on the Axiom ribbon to save bank balancer account assignment drivers to the database.
  7. Close the Bank Balancer Acct Assignments file when input is complete.