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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 intercompany reconciliation at month-end turns into detective work when you’re hunting through static exported data. Timing differences and missing transactions create imbalances that require hours of investigation to resolve.
Automated reconciliation using live transaction data identifies and validates intercompany balances continuously, transforming month-end reconciliation into real-time monitoring.
Build continuous intercompany monitoring using live QuickBooks transaction data
Coefficient enables sophisticated automated intercompany reconciliation by importing transaction-level data from multiple QuickBooks entities and building matching logic that identifies and validates intercompany balances in QuickBooks real-time.
How to make it work
Step 1. Import detailed transaction data from all entities.
Use Objects & Fields imports to pull comprehensive transaction data including Journal Entries with intercompany accounts, Bills and Invoices between entities, Customer and Vendor records for intercompany relationships, and custom fields that identify intercompany transactions.
Step 2. Create automated matching logic.
Build Excel or Google Sheets formulas that automatically match intercompany transactions using VLOOKUP or INDEX/MATCH functions. Match on transaction amounts (Entity A’s payable = Entity B’s receivable), reference numbers or descriptions, transaction dates within acceptable ranges, and custom intercompany identifiers.
Step 3. Set up real-time balance validation.
Create formulas that continuously validate intercompany account balances across entities using SUMIFS to aggregate balances by entity and account. Automatically flag discrepancies as they occur rather than discovering them during month-end reconciliation.
Step 4. Build automated exception reporting.
Create exception reports that identify unmatched intercompany transactions, timing differences between entities, amount discrepancies requiring investigation, and missing intercompany entries. Use conditional formatting to highlight issues requiring attention.
Step 5. Configure continuous monitoring with scheduled updates.
Set up daily or weekly data refreshes so intercompany reconciliation occurs automatically. This provides continuous monitoring rather than periodic reconciliation exercises, catching issues immediately rather than at month-end.
Step 6. Maintain drill-down capability for investigation.
Preserve links to underlying transaction details for efficient investigation of reconciling items. Import transaction descriptions, dates, and reference numbers to maintain full audit trails from the original QuickBooks entries.
Transform month-end reconciliation into continuous monitoring
Automated intercompany reconciliation identifies and resolves discrepancies in real-time rather than during stressful month-end processes. Start building your automated reconciliation system today.
