What is aIntercompany Matching Report? An Intercompany Matching Report is a vital tool used in the month-end close process of multi-company enterprises. Its primary purpose is to assist Group Controllers in identifying and reconciling transactions between subsidiaries. By automatically detecting and presenting due-to and due-from transactions, this report enables controllers to easily compare and identify any discrepancies. It organizes matching transactions from each company on the same row, with a variance column indicating the degree of match. This example demonstrates the consolidation report format.
Purpose of Intercompany Matching Reports The purpose of Intercompany Matching Reports is to streamline the month-end close process for companies, particularly those with multiple subsidiaries and internal transactions. By incorporating this report into their Finance & Accounting Department's practices, companies can enhance the efficiency and accuracy of their month-end consolidation process. This minimizes the risk of errors that could lead to incorrect financial statements.
Benefits to Users These reports offer significant benefits to business users, enabling them to make informed decisions and enhance their operational efficiency. By providing a clear and consolidated view of intercompany transactions, users can quickly identify any discrepancies or inconsistencies. This enables prompt issue resolution and necessary adjustments. With accurate and up-to-date information readily available, users can confidently analyze financial data and gain insights into the organization's overall financial health. Moreover, the streamlined month-end close process facilitated by these reports saves time and effort for users, allowing them to focus on value-added tasks and strategic decision-making. Ultimately, leveraging Intercompany Matching Reports empowers business users to improve decision-making, optimize resource allocation, and contribute to the organization's overall success.
Intercompany Matching Report Example Here is an example of an Intercompany Report that automatically matches sales, purchases, payables and receivables.
Intercompany Matching Report Example from Solver
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Who Uses This Type of Consolidation Report? The typical users of this type of consolidation report are: Controllers and Accountants.
Other Consolidation Reports Often Used in Conjunction with Intercompany Matching Reports Progressive Finance & Accounting Departments sometimes use several different Intercompany Matching Reports, along with consolidated profit & loss, balance sheet and cash flow reports and other management and control tools.
Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Netsuite and others. In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards? Examples of business software used with the data and ERPs mentioned above are:
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