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- Financial Consolidation
- Who it's for
- Groups with foreign subsidiaries
Groups with foreign subsidiaries
USD-reporting groups reconciling accepted balances from entities with other functional currencies.
How Financial Consolidation is set up for you
Rate requirements
Define the approved closing, average and historical inputs from the actual source balances. Missing rates become visible requirements. Preserve historical layers where the reviewed accounting method needs them instead of averaging incompatible bases.
Translation evidence
Retain each local amount, source line, approved rule, rate and translated amount. Domestic USD balances use a one-to-one rate. A new provider response creates a reviewed version rather than silently updating an earlier published translation.
Translation movement
Reconcile the opening adjustment, required closing amount and period movement. An unchanged rerun cannot add the full closing adjustment again. Currency movement reports should explain the chosen rate and financial basis to the controller.
Intercompany differences
Compare reciprocal source references and distinguish timing, FX and classification issues. A tolerance does not authorise an unbalanced elimination. Both subsidiary owners can address their shared exception while their unrelated books stay private.
Features to start with
Intercompany reconciliation
Match both sides of intercompany activity and retain an explanation for every difference.
Entity and ownership management
Keep the reporting group, ownership changes and account mappings ready for the next close.
Trial balance collection
Collect complete subsidiary balances and resolve exceptions before group calculation.
Roles on the team
- Group Controller / Corporate CFO
- Review all authorised group financial records.
- Consolidation Manager
- Manage consolidation periods and run preparation.
- Consolidation Analyst
- Prepare imported subsidiary trial balances and draft trial balance lines.
- Subsidiary Controller
- Manage own legal entity draft subsidiary trial balances and trial balance lines.
- External Auditor
- Read explicitly granted period and entity evidence until engagement expiry.
Set up Financial Consolidation your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.