Consolidated Financial Reports

Overview

Standard financial reports can be configured for individual GL Ledgers by following the Financial Report Setup – GoldFinch Clientcare documentation.

To create consolidated financial reports, clone an existing financial report and add additional columns that reference the appropriate GL Ledgers participating in the consolidation.

These reports can display balances from:

• Individual subsidiary GL Ledgers
• Converted GL Ledgers (for foreign subsidiaries)
• Elimination GL Ledger
• Parent Consolidation GL Ledger

Important

If a subsidiary uses a different Base Currency than the parent company, reference the subsidiary's Converted GL Ledger in the consolidated report instead of its Actual GL Ledger.

Report Design Guidelines

A typical consolidated report includes columns for:

• Each domestic subsidiary's Actual GL Ledger
• Each foreign subsidiary's Converted GL Ledger
• Elimination GL Ledger
• Parent Consolidation GL Ledger (final consolidated balances)

This layout allows users to review both the individual entity balances and the adjustments made during consolidation.

Consolidated Profit & Loss

The Consolidated Profit & Loss report combines the operating results of all subsidiaries after:

• Currency translation
• Intercompany eliminations

Typical report columns include:

The final consolidated column reflects the organization's operating results after all translation and elimination adjustments.

Consolidated Balance Sheet

The Consolidated Balance Sheet combines assets, liabilities, and equity from all subsidiaries into the parent company's reporting currency.

Typical report columns include:

The consolidated balances include:

• Currency translation adjustments
• Intercompany balance eliminations
• Cumulative Translation Adjustment (CTA)

Consolidated Trial Balance

The Consolidated Trial Balance provides a complete view of all account balances after consolidation.

Typical report columns include:

This report is commonly used to:

• Verify that consolidated debits equal consolidated credits.
• Review elimination entries.
• Validate currency translation adjustments.
• Reconcile subsidiary balances before publishing consolidated financial statements.