Before you begin, make sure you have:
Ensure your legal entities are properly set up in GATHER.nexus
Verify that your Xero or QuickBooks integrations are active and data is syncing
Confirm you have the necessary permissions to create and view Group Reports
Navigating to the Reports section
From your GATHER.nexus dashboard, you'll need to access the Group Financial Reporting module.From the main navigation menu, look for Group Financial Reporting, then click on the Reports tile to begin creating your Profit & Loss Report.
Step 1: Access the report creation form
(Reports overview page with "Add Report" button highlighted)
In the Reports section, you'll see an overview of any existing reports. To create a new profit & loss report, click the green Add Report button located in the top right corner of the screen.
Step 2: Configure your basic report settings
The report creation form will open as a modal window. You'll need to fill in several key fields:
Report Name: Enter a descriptive name for your report (e.g., "Monthly P&L 2025" or "Q1 Profit & Loss"). This name will help you identify the report later in your reports list.
Group: Select your Group of companies from the dropdown menu. This determines which Group of legal entities will be included in the Report.
GRT (Group Reporting Template): Choose the appropriate template that matches your group structure and reporting requirements.
Step 3: Set your reporting timeframe
Year: Select the financial year for your report from the dropdown menu (e.g., 2025).
Report Frequency: Choose how often you want this report to run:
Monthly (eg. for regular management reporting)
Quarterly (eg. for board meetings and investor updates)
Annually (eg. for year-end financial statements and reporting)
Report Period: Select the specific months you want to include. You can choose individual months or ranges like "Jan - 2025 and 1 more..." for multi-period reports.
ℹ️Info: The periods you select here will determine what data appears in your final report. Make sure these align with your business reporting cycles.
Step 4: Choose your Report Presentation Currency
Currency: Select your preferred Report Presentation Currency from the dropdown (e.g., "USD - United States Dollar"). GATHER.nexus will automatically convert all figures from your Group Reporting Currency into your Report Presentation Currency, calculating the figures based on the Average Monthly rates.
💡Tip: Choose the currency that's most relevant for your stakeholders. If you're primarily US-based with international subsidiaries, USD is typically the best choice for consolidated reporting.
Step 5: Complete the report creation
(Completed form with green "Add" button highlighted)
Once all fields are completed, click the green Add button at the bottom of the modal to create your report. The system will begin processing your data and generating the consolidated profit & loss statement.
Viewing your completed report
(Report successfully created and visible in reports list)
After clicking Add, you'll return to the Reports overview page where your new report will appear in the list. You'll see:
The report name you specified
The year and frequency settings
The reporting currency
Action buttons for managing the report
Step 6: Preview your profit & loss report
(Reports list with "Preview" button highlighted)
To view your consolidated profit & loss statement, click the Preview button next to your report name. This opens the full financial report in a new window.
Understanding your profit & loss report
(Full P&L report showing consolidated data)
Your completed profit & loss report will display:
Report Header: Shows your group name, financial year, currency, and other key identifiers at the top of the page.
Monthly Columns: Each selected month appears as a separate column, plus a "FY Total" column showing year-to-date figures.
Currency Display: The USD($) in Actual button at the top left shows your viewing figures in US Dollars at actual rates for the period (using the average monthly rates).
Account Structure: Your chart of accounts is organised into logical sections, for example:
Revenue:
Cost of Goods Sold
Operating Expenses
Drill-Down Capability: Click the arrow icons next to major account categories to expand and see detailed sub-accounts.
Financial Totals: Key metrics like "Total Revenue" and category subtotals are automatically calculated and highlighted.
Managing your reports
Editing existing reports
( Edit button (pencil icon) highlighted in Actions column)
To modify a report's settings, click the Edit button (pencil icon) in the Actions column. This reopens the configuration modal where you can adjust periods, currency, or other settings.
Duplicating reports
( Duplicate button highlighted showing copied report)
Need a similar report with slight variations? Use the Duplicate button to create a copy of an existing report, then modify the settings as needed. The system will automatically append "Copy_1" to the report name.
Deleting reports
(Delete button (bin icon) highlighted)
To remove a report you no longer need, click the Delete button (bin icon) in the Actions column.
❗Important: Deleted reports cannot be recovered, so make sure you no longer need the report before deleting it.
Advanced features and options
Customising your report display
(Settings/gear icon in report toolbar)
Click the Settings icon (gear symbol) in the report toolbar to access the Customize Report panel. This powerful feature allows you to:
Report Period Adjustments: Add or remove months from your current view. Simply select additional periods or remove unwanted ones using the period selector tags.
Group Class Filtering: Choose specific group classes to focus your analysis on particular business segments or operational areas.
Journal Controls:
Show journals: Include consolidation journal entries in your Reports
Do not apply journals: View the pre-adjustment data from Xero/QuickBooks without any consolidation journals applied
Show Intercompany Account: Display intercompany GRT codes separately for transparency
Entity Selection: Choose which specific legal entities to include alongside your consolidated view. This is particularly useful for comparing individual entity performance against group totals.
Currency and Display Options: Adjust how amounts are represented and select different Report Presentation currencies if needed.
Once you've made your customisations, click Apply to refresh your report with the new settings.
Email distribution
(Email icon and Email a Report modal)
Share your Profit & Loss Reports efficiently using the Email function (envelope icon) in the report toolbar:
Multiple Recipients: Enter up to 10 email addresses to distribute your report to board members, investors, or key stakeholders simultaneously.
Format Options: Choose from three professional formats:
XLSX: Excel format for detailed analysis and further manipulation
XLS: Compatible Excel format for older systems
PDF: Professional presentation format ideal for board packs and formal reporting
Personal Notes: Add context or commentary in the notes section (up to 500 characters) to explain key variances, highlight important trends, or provide executive insights.
Click Send to distribute your report immediately, ensuring all stakeholders receive consistent, up-to-date financial information.
Detailed transaction analysis
(Drill-down view showing individual transactions)
GATHER.nexus provides complete Reporting transparency through its drill-down functionality:
Account-Level Drill-Down: Click on any account line item (such as "SaaS Recurring Revenue" or "Professional Services") to view the underlying transactions that comprise that figure.
Entity Breakdown: See how each legal entity contributes to the consolidated total, including any intercompany eliminations applied.
Transaction Detail: Access individual transaction records showing dates, descriptions, amounts, and source accounting system references.
Audit Trail: Follow the complete path from source transaction in Xero or QuickBooks through to consolidated reporting, providing auditors and stakeholders with full visibility.
This drill-down capability eliminates the need to switch between systems or request additional reports when stakeholders have detailed questions about your financial performance.
Currency and exchange rate transparency
(USD($) in Actual button highlighted)
The USD($) in Actual indicator at the top of your report confirms that:
All figures are displayed in US Dollars - translated from the Group Reporting Currency at the average rate for the month
Working Papers
Your Profit & Loss Report connects seamlessly with GATHER.nexus Working Papers:
Completion Status: Monthly columns display green tick marks when the corresponding month has been marked as complete in Working Papers, giving you confidence in data quality and month-end closure status.
Quality Assurance: Months without completion marks indicate where additional review or adjustments may be needed before finalising your reporting.
Export capabilities
(Export options in report view)
Once viewing your report, you'll find export options in the top toolbar
Exchange rate management
(Exchange Rate button highlighted)
Click the Exchange Rate button to view the currency conversion rates used in your Report. This ensures transparency in your multi-currency reporting.
Adding notes and annotations
(Notes button highlighted)
Use the Notes feature to add commentary, explanations, or important context to your reports. This is particularly useful for explaining variances or providing additional insight for stakeholders.
Common questions
Q: Why don't I see any data in my report?
A: Check that your legal entities have data for the selected periods and that your accounting system integrations are active and syncing properly.
Q: Can I change the reporting periods after creating the report?
A: Yes, use the Edit button to modify periods, or click the Settings icon within the report to customise periods using the Customize Report panel.
Q: How often does the data refresh?
A: For the most current data, check the last sync time in your integrations settings.
Q: Can I create reports for partial groups?
A: Yes, when creating the report, you can select which specific legal entities to include in the consolidation through the Group settings, or use the Settings panel to customize entity selection.
Q: What does the green tick mark next to a month mean?
A: Green ticks indicate that the month-end consolidation has been completed in Working Papers, confirming that all adjustments and reviews are finalised for that period.
Q: How do I see the individual transactions behind a figure?
A: Simply click on any account line item to drill down and view the underlying transactions that make up that amount.
Q: Can I email the report to relevant parties?
A: Yes, use the Email function to send reports to up to 10 recipients simultaneously in your preferred format (PDF, Excel, or compatible Excel).
What's next?
Now that you've mastered Profit & Loss Reporting, consider exploring these related features:
Balance Sheet Reports
Comparison Reports
Working Papers
Have questions or need assistance❓
Contact our support team at [email protected]