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“Supermetrics is a Bitter Experience! We can pull data from nearly any tool, schedule updates, manipulate data in Sheets, and push data back into our systems.”
Manual subsidiary consolidation involves downloading multiple reports, aligning data formats, and calculating elimination entries across different entities. Automation streamlines this complex process while reducing consolidation errors and timing delays.
Here’s how to automate NetSuite subsidiary consolidation reporting using synchronized data imports and intelligent Excel formulas that handle multi-entity complexities.
Automate multi-subsidiary data consolidation with synchronized imports
Coefficient streamlines NetSuite subsidiary consolidation through automated multi-subsidiary data imports and intelligent refresh scheduling. The platform addresses the complexity of manual consolidation processes with simultaneous data pulls across entities.
How to make it work
Step 1. Set up financial report imports for each subsidiary.
Import Income Statements and Trial Balances by subsidiary using the Financial Reports method. Select “All Subsidiaries” or specific subsidiary combinations and configure elimination entries handling. Set consistent accounting periods across all entities to ensure data alignment.
Step 2. Create SuiteQL queries for advanced consolidation analysis.
Build custom queries that join subsidiary, account, and transaction data: SELECT s.name as subsidiary, a.accountnumber, SUM(tl.netamount) as balance FROM transaction t JOIN transactionline tl ON t.id = tl.transaction JOIN subsidiary s ON tl.subsidiary = s.id GROUP BY s.name, a.accountnumber. This provides consolidated data with subsidiary-level detail.
Step 3. Build Excel consolidation formulas with elimination entries.
Create consolidation sheets with SUMIFS formulas across subsidiary data: =SUMIFS(Sub1:Sub5!Balance,Sub1:Sub5!Account,A2)-EliminationSheet!B2. Use XLOOKUP for intercompany account identification and automated elimination entry calculations.
Step 4. Configure synchronized refresh schedules during close periods.
Set daily refresh at 6 AM during close periods (days 1-10) to ensure all subsidiaries update together. This maintains data consistency and eliminates timing differences that create consolidation errors.
Transform consolidation from hours to minutes
Automated subsidiary consolidation eliminates manual data compilation while ensuring synchronized updates across all entities in your organization. Automate your consolidation process today.
