If your organisations are part of a group, you can combine them to manage your reports and forecasts into one single consolidation.
You can consolidate multiple organisations, even if they use different currencies or integrate with different accounting software.
Step 1 - Create a new consolidation
When logged into Futrli, click the organisation name in the top-right corner of the window.
Click Manage Organisations.
Click the Consolidations tab.
Click Add new consolidation.
Step 2 - Add organisations to the consolidation
Within the Consolidation settings box:
Enter a Consolidation name
Select the Financial year end
Select the Presentation currency
You have a list of available entities to add to your consolidation. You can see their name, year end, and currency.
Click and drag the relevant entities across to Consolidated entities.
To continue, click Next.
After you add the entity, the system will create a short code based on the entity name:
This code will show on consolidated forecasts and reports to help you identify the organisations.
You can customise the code straight away, or later from the consolidation settings.
Step 3 - Eliminate accounts
Select whether you need to eliminate any accounts from the consolidation.
📎NOTE: If you don't need to eliminate any accounts, click No, take me to the next step. click Next and skip to Step 4 - Select a reporting structure in this guide.
Click Yes, I have account eliminations, click Next.
A list of your available accounts displays as clickable dropdowns. Click them to expand them and see the individual accounts.
Click "Create new group" to organise the eliminated accounts into categories.
Click and drag the relevant accounts across to your elimination groups.
After you eliminate the relevant accounts, click Next.
📌TIP: You can edit and eliminate accounts later from the consolidation settings.
Step 4 - Select a reporting structure
Select a reporting structure for your consolidation. Every report, budget, forecast, and scenario will mirror the structure you select.
When you're done, click Next.
Step 5 - Review FX rates
📎NOTE: This step only appears if the organisations you're consolidating have different currencies.
You see the FX rates that will apply. There are different tabs for each currency, for example, USD.
📌TIP: Click Edit daily FX rates to amend a rate.
To finish, click Next.
A message will pop up to indicate that the creation of the consolidation is in progress. When complete, you're taken to the Summary page of the consolidated organisation. You can now switch between the organisations and the consolidation.
Just like your organisations, the consolidated organisation appears as an option to switch to.
📌TIP: You can edit the consolidation anytime, just click the Consolidation Settings. If you no longer want the consolidated organisation, you can delete it.