Accessing Intercompany Reconciliation App
To begin:
Navigate to the Intercompany Reconciliation module from the main menu.
Click Perform Reconciliation.
This opens the 5-step reconciliation setup workflow.
Step 1: Name the Reconciliation
Enter a reconciliation name (e.g., “Intercompany Reconciliation”).
Click Save & Next.
Step 2: Select Companies
A. Choose how to define the company set:
From Group: Select companies from a predefined group
B. Define:
From Companies (originators)
To Companies (recipients)
Note: A company cannot be both a From and To company.
C. Click Save & Next.
Step 3: Select Accounts
For each company, select the relevant intercompany accounts from the chart of accounts.
Define how intercompany transactions are paired:
By Accounts: Match transactions based on selected intercompany accounts
Profit & Loss or Balance Sheet
By Contacts: Match transactions based on intercompany contact relationships
Customer & Vendor
Add multiple accounts if required.
(Optional) Enable Tracking Categories to filter by department, project, or business unit.
Click Update & Next.
Step 4: Select Currency
Choose the reconciliation reporting currency.
The system automatically converts values across currencies.
Exchange rate variances are highlighted during reconciliation.
Click Update & Next.
(See screenshot above)
Step 5: Select Reconcile Period
Select the reconciliation date range:
Monthly
Quarterly
Annual
Custom range
Align the period with your group reporting cycle.
Click Update & Next.
A. Reconciliation Analysis Screen
After setup, the system opens the Reconciliation Analysis Screen.
Layout:
Left panel: From Companies (originators)
Right panel: To Companies (recipients)
Center panel: Matching workspace
B. Transaction Matching
Use filters (company, account, date, tracking category) to refine results.
Select matching transactions from both sides.
Click Reconcile.
Use Exclude to remove non-relevant items (can be re-included later).
Status Indicators:
Green: Matched
Orange: Discrepancy detected
C. Exchange Rate Options
Select one of the following exchange rate methods:
Transaction Date Rate (P&L)
Monthly Average Rate (P&L)
Month-End Rate (Balance Sheet)
D. Creating Adjustments
If discrepancies exist, you can create adjustments directly in the system:
Option 1: Add Invoice
Click Add Invoice
Create and post intercompany invoice
Option 2: Add Journal
Click Add Journal
Enter debit and credit entries
Post or save as draft
E. Posting Options
In Intercompany Reconciliation 2.0 within GATHER.nexus, transactions are posted as part of the action taken to resolve discrepancies.
When creating or correcting entries:
Transactions created using Add Journal or Create Invoice are posted to the underlying ledger (e.g., Xero or QuickBooks) upon confirmation
Any updates made via View in Xero or View in QuickBooks are applied directly in the source system
Once posted, changes are reflected immediately in the reconciliation screen, and balances are updated in real time.
F. Working Paper Validation
Within the Continue Reconciliation screen, the Working Paper Validation section is available for reference.
This section links intercompany reconciliation to consolidation working papers, ensuring consistency between reconciled balances and reporting outputs.
G. Reconciliation Status and Completion
In GATHER.nexus, reconciliation is continuously updated as transactions are matched and discrepancies are resolved.
The system automatically reflects progress based on reconciliation activity.
A reconciliation is considered complete when:
All intercompany transactions for the selected period are matched
No outstanding differences remain between entities
The reconciliation status reflects a fully balanced position
There is no separate finalisation step. Status updates dynamically as reconciliation progresses, ensuring real-time visibility of group intercompany positions.
Need help? Visit gather.nexus, click the chat icon in the bottom-right corner, or email us at [email protected] for assistance.