Multi-entity

Open Clients → Multi-entity, or choose an entity group from the company switcher. A group opens its own workspace for transactions, balances, reports and close. Use the group name menu to switch to an individual entity’s books. Existing group links still work.

Each company retains its own journal entries, accounts, integrations and access permissions. Entity groups are separate from the client groups used to organize a firm’s portfolio.

Set up the group

1. Add the companies and choose the group’s reporting currency.
2. Confirm each company’s book / functional currency. Existing ledger numbers are interpreted in that currency; this setting does not convert historical books.
3. In Settings → Transaction defaults, select each entity’s bank, due-from and due-to accounts once. Invoice A/R, bill A/P and settlement FX defaults are optional. New transactions use these defaults and let you review or override them.
4. In Settings → Report accounts, choose Suggest account matches. Existing Universal COA links, reviewed mappings and inherited parent mappings are preserved. Suggestions match identical names, codes and categories; other accounts receive separate rows. Review, adjust and Save settings to apply. An unmapped balance remains visible and prevents close.
5. In Settings → Entities & ownership, choose the parent, ownership percentages and inclusion dates. Add controlled entities for full consolidation. Assess control separately from ownership percentage.
6. Review acquisition accounting. Record the required investment/equity elimination, goodwill, fair-value and opening noncontrolling-interest adjustments as group journals. Attribute subsidiary adjustments to the relevant entity, then confirm the acquisition review in ownership settings.

The group’s currency, existing member currencies and inclusion start dates cannot change after intercompany transactions have been posted. Reopen closed periods before changing report configuration or rates. Saved closes retain their original configuration.

Record a transaction

From Transactions, choose New transaction. Enter the purpose, entities, amount and date; continue to review the accounts; then inspect both entities’ journals before posting. Reference, bank matching and recurring options appear only when needed. The dialog body scrolls while the navigation and posting buttons stay visible.

Invoices and bills appear in the existing A/R and A/P subledgers. Select an existing bill when paying on behalf of another entity: the payment clears that bill’s payable instead of recording its expense again. Repaying an intercompany invoice applies the payment to both original documents. Partial repayments are allowed; overpayments are rejected.

Select available bank feed transactions or match the posted journals later in Banking. Posting records the accounting; it does not instruct a bank to move funds. All participating journals commit together, and retries cannot create another copy of the same request. Intercompany journals are protected against independent financial edits from a single-company screen.

For foreign-currency transactions, enter the transaction-date rate into each entity’s book currency. Repayments clear the original carrying amounts and record any settlement exchange difference in the selected FX gain/loss account.

Reconcile balances

Balances shows the receivable and payable recorded for each entity pair in the transaction currency. Expand a pair to inspect its source transactions and settlements. “Books agree” means both sides match; it does not mean the amount has been repaid.

This register tracks transactions recorded through Entity Groups. Historical intercompany journals need explicit group adjustments and review when establishing opening balances; account names alone do not establish a counterparty relationship.

Prepare reports

Choose a preset period or custom dates, then select Profit & loss or Balance sheet. The default columns show amounts before adjustments, intercompany eliminations, group adjustments and the group total. Turn on Show entity columns for each entity translated into group currency, or Show zero balances for empty rows. Review checks link directly to account matching, rates, ownership or balances. Select an account to trace its sources. Export a workbook containing both complete statements, all entity columns, intercompany balances and review issues.

Reports use accrual accounting. Balance sheets include opening balances. Current-period income and income carried forward are shown separately. Internal receivables, payables and service revenue/expense are eliminated only within the reporting perimeter. Capital investment and equity require the reviewed acquisition / investment elimination journal.

For foreign operations, supply:

• Closing rates for each exact balance-sheet date, including opening comparison dates needed for intercompany exchange differences.
• Monthly average rates for income and expenses. Use appropriate period averages; they must reasonably approximate transaction-date rates.
• Historical rates effective on or before equity transactions.
• Transaction spot rates for the exact dates of recurring foreign-currency transactions.

Currency translation adjustments and exchange differences on reciprocal intercompany balances are displayed separately. Missing rates are review issues, never an implicit rate of 1. Noncontrolling interests use the ownership chain, reviewed opening NCI and attributable post-acquisition results. Record distributions, ownership changes, unusual transactions and other required adjustments explicitly. This workflow covers controlled-entity full consolidation; it does not implement equity-method accounting, hyperinflation accounting or acquisition valuation.

Ownership percentages apply to the entire selected report period; they are not an effective-dated ownership history. A report spanning an entity’s exit is flagged and cannot be closed: its statements use the closing perimeter and require separate disposal-period consolidation. Do not use a current group definition to finalize historical periods with a different ownership structure.

Recurring transactions

Save a transaction as a monthly, quarterly or annual schedule. Choose review-and-run or automatic posting. Each due occurrence is atomic and has its own duplicate-prevention key. The saved day of month is retained when a month is shorter.

Foreign-currency occurrences require exact-date spot rates; a missing rate leaves the occurrence due for correction and retry. Automatic posting checks the schedule owner’s current access to every entity. Pausing a schedule stops future occurrences without removing posted journals.

Close and reopen

Resolve report issues and review the statements, then close through the period end. Wesley verifies that the source books have not changed, saves the report and configuration, and locks the included books through that date. A manager can reopen the group with a recorded reason. Previous close snapshots remain available, marked as reopened when applicable.

Group adjustments and eliminations are never posted to individual entity books. A group close is separate from a tax return or statutory filing.

Accounting references: IFRS 10, consolidation procedures and noncontrolling interests, IAS 21, functional and presentation currencies.