Overview
The Group Reporting Template (GRT) is the group-level reporting structure used across the Working Paper, consolidated Reports, and Group Budgets.
You can create a Balance Sheet GRT in three ways:
Import an existing structure from CSV.
Select a ready-made template.
Build the structure manually.
GATHER.nexus automatically adds the consolidation accounts required for group reporting to the GRT.
1) Access Group Reporting Template
From your GATHER.nexus dashboard, go to Group Financial Reporting > Group Reporting Template.
The Group Reporting Template screen shows your existing reporting templates.
Click Add GRT to create a new template.
2) Create a Balance Sheet GRT
When creating the GRT:
Select the Balance Sheet tab.
Enter the Template Name.
Select the Group the template applies to.
Select how you want to create the reporting structure.
You can import an existing structure, select a ready-made template, or create the structure manually.
3) Import an Existing Structure from CSV
Use Import from CSV if you already have a Balance Sheet reporting structure that you want to use in GATHER.nexus.
From Add GRT, select Balance Sheet.
Select Import from CSV.
Download the sample CSV to review the required format.
Prepare your CSV using the required structure.
Upload the CSV.
Click Create & Setup.
Review the imported reporting structure.
Click Update & Map Account to proceed to account mapping.
4) Select a Ready-Made Template
Use Industry Standards to start with a pre-configured Balance Sheet reporting structure.
From Add GRT, select Balance Sheet.
Select Industry Standards.
Review the available templates.
Select the template you want to use.
Click Create & Setup.
Review the reporting structure.
Click Update & Map Account to proceed to account mapping.
The platform-generated consolidation accounts are added automatically.
5) Create the GRT Manually
Use I will create Group CoA manually when you want to build your own Balance Sheet reporting structure.
From Add GRT, select Balance Sheet.
Select I will create Group CoA manually.
Click Create & Setup.
Build the required Assets, Liabilities and Equity structure.
Add and arrange the reporting accounts as required.
Click Update & Map Account to proceed to account mapping.
The platform-generated consolidation accounts are added automatically.
6) Review Platform-Generated Consolidation Accounts
GATHER.nexus automatically adds the default consolidation accounts required by the group to the GRT.
These accounts are identified with a Platform generated tag and are shown as locked.
Being locked means that the accounts cannot be hidden or deleted. Hovering over the hide or delete action displays a note explaining why the account cannot be removed.
Where a platform-generated parent account has subsidiary-specific child accounts, GATHER.nexus creates one child account for each subsidiary. If the number of subsidiaries changes, the child accounts change to match.
These subsidiary-specific accounts form part of the group reporting structure. They are not created in the subsidiaries' own QuickBooks Online or Xero books.
Non-Current Assets
The platform-generated Balance Sheet accounts include:
Investment in Subsidiary
Goodwill
One child account per subsidiary.
Total Goodwill
Equity
The platform-generated Equity accounts include:
Equity attributable to the minority
One child account per subsidiary.
Total
NCI Acquisition Reserve, when a subsidiary has a step acquisition or disposal.
Capital Gain on Bargain Purchase, when goodwill is negative for a subsidiary.
FX in reserves, when a subsidiary's reporting currency differs from the group currency.
7) Review FX in Reserves Accounts
When a subsidiary reports in a currency other than the group currency, GATHER.nexus adds FX in reserves accounts to capture the applicable foreign-exchange differences.
The platform creates:
An FX in reserves parent account.
A child account for each equity element that can carry an exchange difference.
A Total account.
This includes applicable equity accounts such as Share Capital and Share Premium, while Current Year Earnings and Retained Earnings are excluded.
An FX in reserves (Purchase Consideration) account is created when the purchase consideration is in a currency other than the group currency.
Where a step acquisition or disposal exists, the applicable step-acquisition FX accounts are also created.
The Capital Gain FX account is created when goodwill is negative.
8) Map Your Accounts
After completing the GRT setup, GATHER.nexus takes you to the mapping screen.
Map each company's QuickBooks Online or Xero chart of accounts to the matching accounts in the group reporting structure.
Mapping is optional, so you can leave accounts unmapped where required.
The platform-generated accounts also appear in the mapping screen. As a general rule, do not map source accounts to platform-generated accounts. GATHER.nexus populates these accounts through its consolidation calculations and consolidation journals.
For example, the holding company's account used to record the purchase of a subsidiary should be mapped to Investment in Subsidiary. Goodwill itself is populated through the consolidation calculation and does not require a source-company account mapping.
9) Use Subsidiary-Specific Consolidation Accounts
Where GATHER.nexus creates subsidiary-specific child accounts under a platform-generated account, those accounts form part of the group reporting structure.
The subsidiary-specific child accounts can be selected when posting consolidation journals.
This allows applicable NCI and related adjustments to be posted against the relevant subsidiary account.
10) Complete the GRT Setup
Review your Balance Sheet reporting structure and complete the required account mapping.
Your completed GRT can then be used across:
Working Paper
Consolidated Reports
Group Budgets
The platform-generated consolidation accounts remain available as part of the GRT and cannot be hidden or deleted.
Need help? Visit gather.nexus, click the chat icon in the bottom-right corner, or email us at [email protected] for assistance.