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Consolidated P&L reporting across multiple entities requires complex intercompany eliminations, currency translations, and segment aggregations. Manual consolidation processes are time-intensive and error-prone, especially when you need consistent reporting periods and audit trail documentation for regulatory requirements.
Here’s how to automate multi-entity consolidated P&L reporting with sophisticated elimination and currency handling.
Streamline consolidation workflows using Coefficient
Coefficient automates NetSuite data pulls across subsidiaries with consolidated reporting functionality. Configure master imports that pull consolidated P&L data directly from NetSuite alongside individual entity streams for detailed analysis.
How to make it work
Step 1. Configure multi-subsidiary imports.
Use Coefficient’s Reports import method to pull Income Statement data with subsidiary filtering, creating separate imports for each entity. Set up a master import that pulls consolidated P&L data directly from NetSuite’s consolidated reporting functionality.
Step 2. Coordinate automated refresh timing.
Schedule all entity imports to refresh simultaneously, ensuring consistent reporting periods and eliminating data synchronization issues. Use date filtering to ensure all subsidiary imports pull data for identical reporting periods.
Step 3. Build automated elimination entries.
Create elimination tabs that automatically remove intercompany transactions from consolidated P&L calculations. Use SuiteQL queries for complex consolidation rules that require custom elimination entries or adjustments.
Step 4. Handle currency and segment consolidation.
Import multi-currency subsidiary P&L data in local currencies while applying automated USD conversion using current exchange rates. Use NetSuite’s class, department, and location dimensions to create consolidated segment reporting within the same workbook.
Transform complex consolidation into automated workflows
Automated consolidated P&L reporting eliminates manual aggregation while maintaining detailed subsidiary-level data for variance analysis and audit support. Real-time consolidated visibility supports board presentations and regulatory reporting requirements. Automate your consolidation process today.
