Consolidation Overview

Consolidation brings the QuickBooks Online companies in a group into one reporting view. FinBoard keeps each company’s source books unchanged, then translates its accounts into a shared structure before adding the results together. The result is a consolidated Profit and Loss, Balance Sheet, or Cash Flow statement that still starts with each company’s own QuickBooks data.

That translation matters when companies use different charts of accounts. One company might call a line Merchant Fees while another records the same cost as Card Processing. Map both to the appropriate shared reporting group, and FinBoard translates each company’s values before summation. You do not need to rewrite either QuickBooks chart just to produce a group report.

How a consolidated report comes together

1. Connect the QuickBooks Online companies that belong in the group.
2. Create a group company and choose its member companies.
3. Build the shared reporting structure for Profit and Loss, Balance Sheet, and Cash Flow.
4. Map each member company’s accounts into that structure, using a named mapping when you need separate views for different audiences.
5. Where companies report in different currencies, FinBoard converts the values as part of consolidation.
6. If your group has intercompany activity, configure the elimination treatment and review it before applying it to a report.
7. Run the consolidated statement from the FinBoard Google Sheets extension.

An elimination is not automatic simply because two companies are in the same group. Configure which accounts are subject to elimination and review the result for the reporting period. Choose Apply Elimination only when that configuration and review are complete; Show Elimination makes the eliminated values visible separately in the report.

Keep the accounting boundaries clear

A mapping changes how compatible accounts are presented; it does not change QuickBooks accounts or their amounts. Keep the normal polarity boundary intact: income and other income belong in the positive-polarity structure, while cost of goods sold, expenses, and other expenses belong in the negative-polarity structure. Do not put income and expense accounts on the same ordinary mapped line. Use a spreadsheet formula or a FinBoard-configured KPI when you need a measure that spans those sections.

Next

• Set up consolidation — create the group, build its shared structure, and map each company
• Run consolidated reports — choose the group, period, mapping, and elimination options in Google Sheets
• Regroup Accounts — build and maintain named mappings
• Consolidated budgets — select and roll up the budgets for each member company