Entity scoping on every role
A clerk is given the entities they process for and sees nothing else. A Controller is scoped to the entities they are responsible for. The centre lead receives the required group scope through the Controller role.
Shared-service finance centres
One finance team closing many entities in many currencies on behalf of a group, with segregation by entity, one checklist per entity and one dashboard across them.
Typical roles
Also built for
- Groups with subsidiaries abroad
- Exporters and importers
- Global services and software firms
- Shared-service finance centres
What changes for this team
configured at rolloutA group that has centralised its finance work runs one team, in one place, closing many entities in many currencies. The people are not in the entities; they process for them. The centre needs to work across all of them at once without losing the line between them. The configuration.
Approval limits that travel
Limits are stated in one currency per person. Retain the conversion into that limit currency and the decision amount for each approval, with a separate check that the person did not prepare the same work.
Checklists generated per entity, worked as one list
Each period opens a checklist per entity from that entity's template; the My Close Tasks view merges a person's tasks across entities by due date, and the Close Task Board shows every entity's progress in one place.
Rates loaded once for everyone
the Treasury Analyst loads approved rates by pair, type and date. Each run uses the required date for its period. Missing rates remain assigned exceptions and block the affected posting until resolved.
Bank feeds into one queue
Configured bank connections bring each entity's statement lines into the team's work queue; reconciliations are prepared centrally by GL accountants and approved by the Controller responsible for that entity.
Intercompany between entities the same team serves
Both sides of a recharge are often keyed by the same centre, and the confirmation step still applies, by a different person.
Audit by entity
Each entity's binder is complete on its own, so a local auditor never sees a neighbour's data.
Multi-currency close for this team
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01
Closing rates
Entity scoping on every role · Bank feeds into one queue · Audit by entity
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02
Reconcile
Approval requiredApproval limits that travel
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03
Revalue
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04
Review
Approval required -
05
Post
Checklists generated per entity, worked as one list · Rates loaded once for everyone
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06
Consolidate
Approval requiredIntercompany between entities the same team serves
Same records, same gates. The configuration changes how the process runs for this team.
Workspace previews
Approval conditions
Controller: Approve JournalEntries, RevaluationRuns, BankReconciliations, Bills and credit memos above clerk limits, PayRuns and urgent PaymentsMade above AP Clerk limit, disputed IntercompanyTransactions, DepreciationRuns, AllocationRuns, AssetMovements, RateOverrides, ApprovalDelegations and waived CloseTasks
PendingApproval
- RR-13590 ENT-4517 3 10 d
- RR-16212 ENT-7079 30 11 d
- RR-21123 ENT-1663 5 1 d
- RR-43075 ENT-6320 33 11 d
- RR-73165 ENT-1406 6 5 d
RR-13590
- Entity
- ENT-4517
- Period
- AP-120
- RunDate
- 07 Sep
- RateType
- Closing
- RateDate
- 10 Sep
Approval waits for the controller.
StatusDraftProposedPendingReleasenext 7 days
StatusReceivedPartiallyAppliedUnapplied
Typical roles
Roles and permissionsOwns the trial balance, the close and the consolidated statements. Approves what the GL Accountant, the Treasury Analyst and the clerks prepare: manual journals, revaluations, reconciliations, bills and credit memos above the clerk limit, pay runs above the clerk limit, and the period close itself.
Processes vendor bills in the vendor's currency, checks them against the order and receipt references, and builds pay runs.
Raises customer invoices and credit memos in the customer's currency, applies cash at the receipt rate and runs dunning.
Prepares manual journals, accruals and prepayments, bank reconciliations and the entity close tasks the Controller approves.
Owns currencies, exchange rates, bank accounts, transfers between currency accounts and the month-end revaluation. Prepares what the Controller approves.
Owns tax codes, jurisdictions, filings and the tax accrual.
External or internal auditor. Read-only across the platform with access to the closing binder, revaluation workings and the audit trail.
Modules
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Period close
Coordinate close dependencies, review supporting workings and keep reporting periods separate from later postings.
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General ledger
Keep transaction amounts, functional values and approval evidence together across journals, close adjustments and group reporting.
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Currencies and rates
Keep the source, purpose and approval behind every exchange rate, from document posting to group reporting.
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Payables
Review supplier bills and payment authority, then reconcile cash, withholding and exchange differences without losing the original evidence.
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Intercompany and consolidation
Agree cross-entity activity, preserve each company’s books and review translation and eliminations in the group reporting currency.
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Revaluation
Restate foreign-currency balances with clear sign conventions, item-level carrying values and independent approval.
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Receivables
Keep customer balances, cash received and exchange differences clear across invoicing, collection and settlement.
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Banking
Reconcile each bank account in its own currency, recognise unmatched cash and retain the evidence behind transfers and payment outcomes.
Relevant reports
Reports and dashboardsIntercompany Reconciliation
Every entity pair and currency for the period with each side's balance, the difference and the agreement status, drillable to the transactions in the period with both entities' booked amounts, so the consolidation cannot start with an unexplained difference.
AR Aging
Open invoices in buckets of days past due by customer and entity, in transaction currency and posted functional carrying value, with a separate indicative current-rate column; the booked column reconciles to the AR control account.
Foreign Currency Exposure
Net open position per entity per foreign currency: receivables plus bank balances plus intercompany receivables less payables, loans and intercompany payables, in the foreign currency, at booked functional value and at today's rate, so the treasurer knows what is unhedged before the pay run.
Common questions
All questionsWhich exchange rate does a document use?
The configured policy selects the rate type and effective date. The document retains the rate used at posting. A missing required rate stops the affected posting until it is resolved; it does not silently reuse yesterday’s rate. Authorised overrides retain the original rate, reason and decision evidence. Posted amounts are corrected through reviewed adjustments or reversals.
Related questionHow are settlement and revaluation differences kept apart?
Applications retain amounts in both document and settlement currency. The ledger compares settlement value with the carrying value released, including any unreversed revaluation allocated to that portion. Reversing and Delta methods are reconciled separately so an earlier exchange difference is not recognised twice. The FX Gain and Loss Summary traces the amounts to the application and revaluation evidence.
Related questionCan entities have different year-ends?
Yes. Each entity has its own periods. Group reporting maps those periods to the consolidation calendar, and intercompany postings use a valid period for each side. The mapping and any reporting adjustments are reviewed during implementation.
Related questionHow does intercompany work across currencies?
Both sides share a transaction currency and amount, while each entity retains its own functional-currency value and posting period. A separate authorised person confirms the receiving side. Differences are investigated and approved adjustments remain traceable before the group eliminates the agreed balances.
Related questionWhich rates does consolidation use?
The account policy selects closing, historical or transaction-date rates. An average rate is used only where it is an appropriate approximation. The run retains the applied rates and translated balances, with reviewed eliminations and translation adjustments in the group unit. Special reporting requirements are scoped and verified during implementation.
Related questionDoes it include hedge accounting?
Hedge accounting and derivative valuation are outside this system’s baseline. Your treasury system can supply reviewed journals and rates through a configured integration. Confirm the required accounting and reporting treatment with the finance owner.
Related questionOther industries
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Industry
Groups with subsidiaries abroad
A parent and several subsidiaries, each with its own functional currency and calendar, consolidating monthly into one reporting currency with intercompany traffic between them.
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Industry
Exporters and importers
A single entity that buys and sells in currencies other than its own: foreign-currency invoices and bills, currency bank accounts, realised differences on every settlement, no consolidation.
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Industry
Global services and software firms
Consultancies, agencies and software companies billing customers in many currencies from entities in a few, with high invoice volume, subscription and milestone billing, and recharges between entities for shared staff.
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This page
Shared-service finance centres
One finance team closing many entities in many currencies on behalf of a group, with segregation by entity, one checklist per entity and one dashboard across them.