Intercompany and consolidation
Every entity, one close.
Agents match intercompany balances at the period’s rates, book the eliminations and tie out the consolidation with the close.
Halden Software’s three entities at September 30. A sample company, with illustrative figures.
From every entity to one consolidation.
Matched
Each due-from is matched to the other entity’s due-to at the period’s rates.
Eliminated
The Intercompany agent drafts the eliminations, and a second AI recomputes each one before it posts.
Consolidated
The consolidation ties to each entity’s books, with every intercompany balance eliminated.
No more consolidating in a spreadsheet.
Eliminations and the consolidation usually get built in a spreadsheet last. Zenday prepares them with the close, each entity tied to its books and every figure traced.
See reporting and dashboardsAcross entities
Matched pair by pair, signed off together.
Due-to and due-from, matched pair by pair.
No more emails between entities. The agent matches each due-to to its due-from at the period’s rates before eliminating.
All your entities, signed off together.
Agents prepare every entity on one checklist, so the consolidation never waits on the slowest and lands in one package.
Questions controllers and firms ask first.
What is intercompany reconciliation?
Agreeing what each entity says another owes it with what the other entity has recorded, so due-to and due-from balances match before they’re eliminated. Zenday’s agents do it for every pair of entities at each close, at the period’s rates.
How are intercompany eliminations booked?
The Intercompany agent drafts the eliminating entries, and a second AI from a different provider recomputes each one before it posts. Anything over the thresholds you set for each entity waits for your controller.
What about entities in other currencies?
Each pair is matched at the period’s rates, so both sides are compared in one currency before anything is eliminated.
Who signs off the consolidation?
Your controller, with the rest of the close. The sign-off comes once every entity is reconciled, the eliminations are booked and the trial balance is in balance.