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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.”
Intercompany eliminations become a monthly headache when you’re working with static exported data. Timing differences between entities create imbalances that require hours of manual investigation and adjustment.
Real-time access to transaction-level data from multiple QuickBooks instances transforms elimination work from detective work into automated calculations.
Build elimination logic using live QuickBooks transaction data in Excel
Coefficient provides real-time access to detailed transaction data from multiple QuickBooks instances, enabling sophisticated elimination logic that updates automatically as transactions are recorded.
How to make it work
Step 1. Import transaction-level data from all entities.
Use Objects & Fields imports to pull detailed transaction data including Journal Entries, Bills, and Invoices from all entities. Apply custom filtering to focus on intercompany accounts, customer/vendor names, or custom fields that identify intercompany transactions.
Step 2. Create automated matching formulas.
Build Excel formulas that automatically match intercompany transactions using VLOOKUP or INDEX/MATCH functions. For example, Entity A’s intercompany payable should equal Entity B’s intercompany receivable for the same transaction reference.
Step 3. Set up elimination calculations.
Create formulas that reference the imported QuickBooks data to calculate elimination entries automatically. Use SUMIFS to aggregate intercompany balances by account and entity, then subtract these amounts in your consolidation worksheets.
Step 4. Build validation and error detection.
Create validation formulas that flag unbalanced intercompany transactions or missing elimination entries. Use conditional formatting to highlight discrepancies that require investigation, such as timing differences or amount mismatches.
Step 5. Maintain complete audit trails.
Import supporting transaction details including dates, references, and descriptions to maintain complete audit trails for elimination entries. This documentation is automatically updated as the underlying QuickBooks data changes.
Eliminate timing issues with real-time intercompany data
Live data connections ensure intercompany balances are always current, eliminating the common problem of entities recording transactions at different times. Get started with automated intercompany eliminations today.
