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|English to English translations [PRO]|
Bus/Financial - Finance (general)
|English term or phrase: topside|
|I,ve already posted this question in the EN>IT pair, but I've been suggested to ask for the meaning. Can someone explain what that word means?|
Corporate will consolidate all entities both SAP and in Excel format including topside and elimination entries.
Any transactions being recorded in consolidation such as eliminations of intercompany sales gets done topside.
Thanks a lot!!
This is the definition from the Center for Audit Quality
“Top-side” entries are those entries that generally do not appear as entries to the general ledger and, therefore, are not subject to standard system controls. In many cases, they are produced in a spreadsheet and maintained separately from the general ledger. These entries also can be recorded after the consolidation is completed, but before the financial statements are prepared.
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|Yes, I think this fits with my context. |
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top priority (matters)
According to the above context, I think topside means top priority (matters). In the first sentence, it says that the corporate will consolidate all entities both SAP and in Excel format including all the entries which are of top priority and entries which should be eliminated.
And the second sentence means elimination of intercompany sales gets done immediately, having a top priority in order of doing things.