Reference: Equity Pickup Results
Run the equity pickup process for these parent and subsidiary companies:
Parent Company | Subsidiary | Ownership | Net Income Debit/(Credit) USD | Change in Parent Investment Debit/(Credit) USD | Provision for Loss |
|---|---|---|---|---|---|
GMS USA | Green Planet | 100% | 151,900 | (150,000) | 1,900 |
GMS USA | GMS Hong Kong | 65% | (46,501) | 30,225 | |
GMS USA | GMS Canada | 100% | (3,162) | 3,162 | |
GMS USA | GMS Australia | 80% | (17,337) | 13,870 | |
GMS Canada | GMS Australia | 20% | (17,337) | 3,467 | |
Third-party Company | GMS Hong Kong | 35% | (46,501) | 16,275 |
Workday displays results on the parent books in either of these base currencies, depending on
how you calculate equity pickup:
- Parent
- Subsidiary
Equity Pickup Results in Subsidiary Base Currency
When you record equity pickup results in the base currency of the subsidiary, Workday posts
these accounting entries to the books of the parent company in the subsidiary base
currency:
GMS USA
Ledger Account/Worktag | Debit (Subsidiary Currency) | Credit (Subsidiary Currency) | FX Rate | Debit (Company Currency | Credit (Company Currency) |
|---|---|---|---|---|---|
Investment in subsidiary Green Planet | 150,000 | 1.000000 | 150,000 | ||
Equity income in subsidiary Green Planet | 151,900 | 1.000000 | 151,900 | ||
Provision for Loss Green Planet | 1,900 | 1.000000 | 1,900 | ||
Investment in subsidiary GMS Hong Kong | 234,389 | 0.128955 | 30,225 | ||
Equity income in subsidiary GMS Hong Kong | 234,389 | 0.128955 | 30,225 | ||
Investment in subsidiary GMS Canada | 3,671 | 0.861334 | 3,162 | ||
Equity income in subsidiary GMS Canada | 3,671 | 0.861334 | 3,162 | ||
Investment in subsidiary GMS Australia | 12,855 | 1.078958 | 13,870 | ||
Equity income in subsidiary GMS Australia | 12,855 | 1.078958 | 13,870 |
GMS Canada
Ledger Account/Worktag | Debit(Subsidiary Currency) | Credit(Subsidiary Currency) | FX Rate | Debit(Company Currency | Credit(Company Currency) |
|---|---|---|---|---|---|
Investment in subsidiary GMS Australia | 3,214 | 1.078958 | 3,467 | ||
Equity income in subsidiary GMS Australia | 3,214 | 1.078958 | 3,467 |
Third-Party Company
The Equity Pickup amount is related to the noncontrolling interest parent. Workday uses the
rules for recording net income attributions for noncontrolling or minority interest
consolidations. You can configure these rules on the
Maintain Elimination
Rules
task.The equity pickup process doesn't create operational journals for noncontrolling interest in
Workday. When you run the
Consolidated Trial Balance
report,
these results are the accounting entries in the currency of the Hong Kong
subsidiary:
Ledger Account/Worktag | Debit (Subsidiary Currency) | Credit (Subsidiary Currency) | FX Rate | Debit (Company Currency) | Credit (Company Currency) |
|---|---|---|---|---|---|
NCI Expense | 126,210 | 0.128955 | 16,275 | ||
NCI Accrual | 126,210 | 0.128955 | 16,275 |