Consolidations

Consolidations allow you to combine financial data from multiple companies into a single unified view, making it easier to analyze your business portfolio, generate consolidated reports, and get a comprehensive picture of your organization's financial performance.

Check out this section in the Knowledge Center for more information on Consolidations features.

Creating a Consolidation

Step 1: Access the Consolidation Feature

Navigate to your Workspace Home
Click the Consolidate button in the upper right corner
The consolidation menu will open, displaying available companies

Step 2: Select Companies

Choose which companies you wish to consolidate. Important: You can only consolidate companies from similar bookkeeping software types:

QuickBooks companies can be consolidated with other QuickBooks companies
- The QuickBooks version does not matter - QuickBooks Desktop companies can be consolidated with QuickBooks Online companies
Xero companies can only be consolidated with other Xero companies
MYOB companies can only be consolidated with other MYOB companies
CSV companies can be consolidated together

Step 3: Configure Your Consolidation

Name your consolidation - Give the consolidated company a meaningful name
Set abbreviations - Assign each individual company within the consolidation a short abbreviation for easy identification
Pick the reporting currency and enable currency conversion if needed
Click Create to create the consolidated company

Step 4: Set the Start of Fiscal Year

Once the consolidation is created, select the Start of Fiscal Year in the workspace:

Managing an Existing Consolidation

To edit a consolidated company after creation:

Expand the consolidated company from your workspace home
Select Manage
The same menu used to create the consolidation will appear

Note: Only the workspace owner, secondary admin, or the user who initially created the consolidation will have access to the Manage option.

Use the Manage option to:

Add new companies to the consolidation
Remove companies from the consolidation
Update company abbreviations
Bring in Classes/Departments
- Check out this Knowledge Center article for more on Filtering Consolidated Data in Metrics and Statements.
Set the reporting currency
Enable currency conversion
Update the consolidation name

Advanced Consolidation Features

Chart of Accounts Mapping

When consolidating multiple companies, accounts with the same name and category (e.g., Income) will automatically consolidate together.

Important: If you have account numbers enabled in company settings within Reach Reporting, the account numbers must also match for accounts to consolidate properly.

For more control over how accounts map together, see: Using the Mapping Tool with Consolidations.

Multi-Currency Conversion

Reach Reporting can automatically handle foreign currency exchange by using historical exchange rates within a consolidated company. This feature uses:

Monthly historical figures for accurate conversion
Monthly average exchange rates for Profit and Loss and Cash Flow Statements
End-of-month exchange rates for Balance Sheet accounts (following IFRS and GAAP guidelines)

Learn more: Multi-Currency Conversion in a Consolidation

Eliminations

Eliminations are used to zero out intra-company accounts when consolidating. Reach Reporting will automatically zero out any accounts you designate as eliminations, ensuring your consolidated financials accurately reflect external transactions only.

Learn more: Eliminations in a Consolidation

Using Company-Level Data Sheets in Consolidations

Data sheets created at the individual company level can be copied over into a consolidation, allowing you to incorporate custom calculations and non-financial data into your consolidated reporting. Save the Data Sheet as a template in the individual company, and then apply the template in the consolidation.

Note: The consolidated company data sheet will be edited and saved separately from the individual company data sheet.

Limitations and Considerations

Special Metrics: Top Customer and Top Vendor metrics are not available in consolidations
AR/AP Aging: Aging statements are not currently supported in consolidations
Data History: Consolidations pull the last 3 years of data
CSV Consolidations: Currency conversion is not available for CSV consolidations
Data Sheets: Data Sheets created at the company level can be saved as a template and can then be applied to the consolidation
Budgets/Forecasts: Budgets/Forecasts are created at the individual company level, not at the consolidation level. Check out this Knowledge Center article for more on Budgets and Forecasts in Consolidations.

Account Structure

Ensure consistent account naming across the companies you plan to consolidate
Use the mapping tool to align accounts with different names but similar purposes

Classes and Departments

Plan which classes/departments you need to track across entities
Remember the 50 class/department limit per consolidation
Use consistent class/department naming for easier filtering and analysis

Reporting Considerations

Statements can be filtered to show specific companies within the consolidation
Custom columns and rows can combine data from different entities
Use display options to create dynamic filters for end users

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