Consolidated financials for a group of companies

What The Report Shows

Open Reports, choose the Consolidations tab, then Consolidated Financials. The report places a group of companies side by side in one Consolidated Profit & Loss and one Consolidated Balance Sheet. Each company has its own column, followed by an Eliminations column and a Consolidated column.

Like every LedgerHQ report, it uses posted ledger activity in each company's books. It does not change any company's books, and it does not certify that every transaction has been entered.

Create A Group

Choose New group, then:

1. Enter a Group name. It prints at the top of both statements.
2. Under Companies, check two or three companies. Columns appear in the order you check them. You can type a short Column heading for each company in place of its full name.
3. Choose Save group.

Use the group menu at the top of the page to switch between saved groups, and Edit group to change one. Deleting a group removes only the saved group, not any company data.

Eliminate Intercompany Accounts

After the group is saved, open Edit group and pick accounts under Intercompany accounts to eliminate, such as a due-to and due-from pair or intercompany management fees. Accounts match across companies by account type and name, ignoring capitalization and spacing. A chosen account is removed in full in the Eliminations column and is tagged Eliminated on the report.

Eliminated revenue and expense also come out of current earnings, so the consolidated Balance Sheet stays tied. If the two sides of an intercompany balance were recorded for different amounts, the page shows how far the consolidated Balance Sheet is out of balance. Check that both companies recorded the same amount.

Combine Differently Named Accounts

Companies often name the same thing differently, such as Rent in one company and Occupancy in another. Under Combine accounts under a heading, add a heading of the right account type and add each company's matching account to it. The report shows one row for the heading with the accounts listed under it. Headings exist only in the group; each company keeps its own chart of accounts.

An account belongs to one heading at most. Eliminating an account inside a heading eliminates the whole heading.

Choose Dates And Basis

Pick the date range for the Profit & Loss; the Balance Sheet is as of the end date. Choose Cash or Accrual to put every column on the same basis. When the companies have different default bases and you have not chosen one, the page asks you to pick so the columns compare like for like.

If a company's books cannot be loaded, the page names it and its column shows zeros. Treat that report as incomplete.

Print The Statements

Choose Print for a landscape copy of both consolidated statements, with each statement on its own page.

Current Limits

• A group holds two or three companies from the same firm.
• Each company is consolidated at 100 percent. Partial ownership and minority interest are not calculated.
• Consolidated financials are available on the web, not in the mobile app.

See Reports for Cash and Accrual basics.