Core Platform Terms
Aggregation
The simple arithmetic sum of financial data (P&L or Balance Sheet) by Company.
Provides the raw financials before consolidation adjustments (journals and eliminations).
Company
A Xero or QuickBooks company/legal entity.
GATHER Platform
Multi-entity financial management platform with modules for Group Financial Reporting, Planning, and Intercompany Control.
Purpose: Replaces multiple spreadsheets/software and reduces manual workflows across group structures.
Group
A holding company with its subsidiaries, consolidated for financial reporting.
Example: A holding company with subsidiaries in the US, UK, Australia, and Canada.
Group Class
A reporting layer combining one or more Xero Tracking Categories and/or QuickBooks Classes.
Use Case: Segment reporting by regions, departments, or business units across the group.
Group Reporting Template (GRT)
A standardized Profit & Loss or Balance Sheet format for group reporting.
Users map underlying ledgers into the template (manual or AI-assisted).
Options: Industry, GAAP templates, or custom structures.
Data & Sync Terminology
Entity Sync
The automated process that pulls trial balances and transactional data from Xero or QuickBooks into GATHER.nexus.
Runs daily or on demand.
Ensures Working Papers and reports reflect current financials.
Mapping Status
A real-time indicator showing how many entity accounts are mapped vs. unmapped to the Group Reporting Template (e.g., “120 mapped | 15 unmapped”).
Provides visibility into consolidation readiness.
Consolidated vs. Aggregated Data
Aggregated = raw sum of entity results, pre-adjustment.
Consolidated = after eliminations, FX adjustments, and journals.
Clear distinction helps users reconcile balances.
Currency Terminology
Group Reporting Currency (GRC)
The base currency for group financial reporting.
FX Treatment:
P&L → Translated at monthly average rate
Balance Sheet → Translated at month-end closing rate
Presentation Currency (RPC)
Reports can be re-translated from GRC into a different presentation currency.
Use Case: Report internally in USD but present to UK investors in GBP.
Efficiency: Change reporting currency without rebuilding report structures.
Journals Terminology
Consolidation Journals
Adjustments applied between aggregated data and consolidated results.
Types:
Balance Sheet Journals → Debits/credits within Balance Sheet
P&L Journals → Debits/credits within Profit & Loss
Linked Journals → Affect both Balance Sheet and P&L
Can be manual or automatic.
Stacked Journals: Carry forward Balance Sheet entries automatically; P&L entries apply only to the chosen period.
Auto Journals
Automated elimination journals for recurring intercompany transactions (e.g., management fees, royalties).
Continue until a stop date is set.
Manual Journals
User-entered journals, flexible for one-off adjustments.
Types: Balance Sheet, P&L, or Linked Journals.
Profit and Loss Journals
Standard Journal → One-off entry in a P&L period.
Recurring Journal (Fixed) → Repeats each period without changes.
Recurring Journal (Draft/Update) → Repeats but remains editable before publishing.
Note: Recurring Journals apply only to P&L, not Balance Sheet or Linked Journals.
Reversing Journal
Automatically reverses in the following period.
Works for Balance Sheet and Linked Journals.
Prevents carryover of temporary adjustments.
Example: Intercompany sales elimination in June automatically reverses in July.
Foreign (FX) Journals
Auto FX 1
Aligns P&L earnings with Balance Sheet earnings by adjusting translation differences.
Posts offset to FX Differences in Reserves (1).
Auto FX 2
Adjusts imbalances from intercompany transactions involving different local currencies.
Moves variances below PAT in the Consolidated P&L and into FX Differences in Reserves (2).
Maintains separate accounts for FX Differences (1) and (2) to ensure audit clarity.
Reporting & Governance
Reporting Cadence
Defines how often consolidated reports are completed: monthly, quarterly, semi-annual, or annual.
Working Papers
Digital working papers within GATHER to document consolidation work.
Include: underlying company data, applied consolidation journals, FX adjustments, and supporting notes.
Notes
Explanatory text boxes attached to consolidations, reports, or journals.
Provide audit documentation and commentary for stakeholders.
Stored with Working Papers for compliance.
Audit Trail
Automatic log of actions taken (journal postings, completions, edits).
Captures user, timestamp, and details.
Ensures governance and accountability.
Completion / Sign-Off
The process of locking a consolidation period after review.
Prevents further journal entries.
Supports audit integrity.
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