What it is
A consolidating worksheet places each entity trial balance side by side, adds a combined column, applies elimination entries and arrives at consolidated balances. This version takes a parent and four subsidiaries, uses one row per account and keeps every elimination in a log that feeds the worksheet by account name.
Checks confirm that each entity balances, that eliminations balance by entry and in total, and that every elimination names an account on the worksheet. A noncontrolling interest block turns the ownership percentage into the share of subsidiary income and shows income attributable to the parent.
When to use it
- At each close for a group with more than one legal entity.
- When preparing consolidated statements for lenders, investors or an audit.
- When training a team on how eliminations flow into consolidated balances.
What’s inside
- Setup tab: entity names, ownership percentages and year-end alignment
- Worksheet tab: 40 account rows, five entity columns, combined, eliminations and consolidated
- Eliminations tab: 40 lines with account pick list, entry balance check and totals by type
- Noncontrolling interest block with elimination adjustments
- Checks for balance, unmatched accounts and missing types
Standard cited
This template follows ASC 810. It is written in our own words, except for phrases the standard requires the document to contain, with [bracketed placeholders] for client details, amounts in USD and dates as MM/DD/YYYY. Check it against the current standard and your firm’s methodology before use.
Questions
Which eliminations are usually needed?
The parent investment against subsidiary equity, intercompany receivables and payables, intercompany revenue and cost, and unrealized profit in inventory or fixed assets. Add dividends and intercompany interest if they exist.
How are debits and credits entered?
Debits are positive and credits negative in every entity column. The combined and consolidated columns then sum to zero when the books balance.
Why is there an adjustment column in the noncontrolling interest block?
Some eliminations change a subsidiary’s income, such as unrealized profit on its sales to the parent. The adjustment moves that effect into the noncontrolling interest computation.
What if a subsidiary has a different year-end?
Roll its balances to the parent’s reporting date before they enter the worksheet. The Setup tab flags the alignment status.
Related templates
- Consolidation and Elimination Workbook (ASC 810)
- Intercompany Reconciliation and Elimination Worksheet
- Noncontrolling Interest Roll-forward (ASC 810)
- Variable Interest Entity Evaluation Worksheet (ASC 810)
Last updated 11/05/2026. All free templates.