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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.”
Traditional financial consolidation requires manual exports from each NetSuite subsidiary, currency conversions, elimination entries, and complex Excel formulas that can take days during month-end close.
Here’s how to set up comprehensive automated consolidation workflows that transform week-long manual processes into one-click refresh operations.
Automated consolidation workflows using Coefficient
Coefficient enables comprehensive financial consolidation through multi-subsidiary support, scheduled refreshes, and advanced data integration capabilities. The system handles subsidiary-specific data imports, automated refresh scheduling that synchronizes all subsidiary data simultaneously, and SuiteQL queries for complex consolidation logic including eliminations and currency translations.
How to make it work
Step 1. Configure subsidiary-specific data imports.
Set up automated imports where trial balance, income statement, and cash flow data from each NetSuite subsidiary populates designated Excel worksheets. Configure role-based access to ensure proper subsidiary data visibility and permissions.
Step 2. Implement automated refresh scheduling for consolidation periods.
Schedule synchronized data refreshes that update all subsidiary information simultaneously during consolidation periods. Set up hourly or daily refresh cycles during month-end close to ensure current data across all entities.
Step 3. Build elimination and currency conversion workflows.
Use SuiteQL queries for complex consolidation logic including inter-company eliminations and automated currency conversion through custom queries that apply current exchange rates. Handle minority interest calculations and acquisition accounting adjustments automatically.
Step 4. Create multi-level consolidation and reporting templates.
Set up consolidation workflows where subsidiary data rolls up through regional and corporate levels automatically. Build automated variance analysis comparing consolidated actuals against budgets and prior periods with real-time monitoring of key consolidation metrics.
Transform your consolidation process
Automated NetSuite financial consolidation workflows eliminate manual data gathering and complex Excel formula management while maintaining audit trails and supporting documentation. Start building your automated consolidation system today.
