This workflow outlines the key steps to prepare Consolidated Financials in GATHER.nexus. Each step links directly to the financial close process and builds toward accurate Group Reporting.
Step-by-Step Reporting Workflow
1. Connect Entities
Link each of your Xero or QuickBooks companies to GATHER.nexus.
2. Sync Data
Import historical and current data for the periods required.
3. Create a Group
Combine connected entities into a reporting Group.
4. Build Group Reporting Templates (GRTs)
Create templates for:
Profit and Loss
Balance Sheet
Linked P&L / Balance Sheet
5. Map Charts of Accounts
Align each company’s accounts with the Group Reporting Template.
6. Configure Auto-Journals
Set up recurring eliminations for intercompany balances and transactions.
7. Review in Working Papers
Access Working Papers to:
Review draft consolidated data
Drill down into company-level figures
Validate month-end close completeness
8. Add Manual Journals
Enter manual adjustments where required to finalize consolidation.
9. Sign Off Periods
Mark periods as complete once data is finalized.
10. Configure Reports
Design and generate reports for your stakeholders.
Optional Enhancements
Optional Enhancements
For improved accuracy and reduced manual effort, consider:
Intercompany Reconciliation App
Automates reconciliation of intercompany balances and eliminates mismatches.Intercompany Recharge App
Centralizes management of intercompany relationships and transactions, reducing errors and imbalances.
Need help? Visit gather.nexus, click the chat icon in the bottom-right corner, or email us at [email protected] for assistance.