The Group Reporting Template (GRT) automatically includes the accounts needed to support group reporting and consolidation. The accounts shown depend on the structure and circumstances of your Group.
1) Create or Open a Group Reporting Template
You can create a GRT using the existing setup options, including:
Importing accounts from a CSV.
Selecting a ready-made template.
Building the structure from scratch.
The required accounts are added automatically regardless of the setup method.
2) Review the Accounts Added Automatically
Depending on your Group, GATHER.nexus may add accounts relating to:
Minority interest
Investment in subsidiaries
Goodwill
Foreign exchange
Changes in ownership
Other consolidation adjustments
3) Review the Profit & Loss Accounts
The Profit & Loss section includes Profit Attribute to Minority Interest.
It can include:
A main minority-interest account.
One account for each applicable subsidiary.
A total for minority interest.
Profit excluding minority.
4) Review the Balance Sheet Accounts
The Balance Sheet includes:
Investment in Subsidiary
Goodwill
An individual goodwill account for each subsidiary
Total Goodwill
5) Review the Equity Accounts
The Equity section can include:
FX in reserves
NCI Acquisition Reserve
Capital Gain on bargain & purchase
Equity attributable to the minority
Individual accounts for subsidiaries
Total accounts
6) Review Foreign Exchange Accounts
When foreign currency applies, GATHER.nexus automatically adds the relevant FX in reserves accounts.
These may relate to:
Purchase consideration
Goodwill
Pre-acquisition amounts
Minority interest
Other applicable equity accounts
Changes in ownership
7) Map Your Company Accounts
After setting up the GRT:
Open the account mapping screen.
Map each company's QuickBooks Online or Xero accounts to the appropriate group account.
Review the accounts added automatically by GATHER.nexus.
The subsidiary-specific accounts shown in the GRT belong to the Group reporting structure and are not added to the companies' own accounting records.
Important Note
The accounts added automatically by GATHER.nexus are protected because they support group calculations. They 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.