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
In the Create option found in the menu bar at the top of the page, select 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.
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.
When ready to continue, click Next.
Step 3 - Eliminate accounts
Select whether you need to eliminate any accounts from the consolidation.
If you do have accounts to eliminate
Select Yes, I have account eliminations, then click Next.
Click Create new group. Give that group a name and select the account category for it to sit in.
Select the accounts to eliminate and drag them into the group.
When ready to continue, click Next.
If you do not have accounts to eliminate
Select No, take me to the next step, then 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 Overview 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.