Consolidation enables user to create a group company in FinBoard, associate that group company to QuickBook entities and map their chart of accounts to a common structure.
This allows user to generate a consolidated overview of the combined financials for those entities. In this process, a user can chose to eliminate certain account categories that contain inter-company eliminations.
Consolidation settings are defined on the FinBoard dashboard, and reports for the consolidated entity can be generated using the FinBoard Google Sheets plugin. This can save hours of work for the accountants and finance professionals.