Zoho Books consolidation for groups of companies
Zoho Books keeps each company's books well, but it has no combined report for a group of organizations. Finconsol connects to every Zoho Books organization in your group, read-only, refreshes them every night, and turns them into one set of group accounts, with currencies translated and intercompany balances removed.
Every organization, every night
Each Zoho Books organization is read overnight, whichever data centre it sits in.
At 02:30 a read-only refresh reads the two Zoho Books organizations, Zenvara Technologies on the India data centre in rupees and Zenvara Pte. Ltd. on the global data centre in Singapore dollars. By 02:41 the Zenvara Group accounts are updated. The other three companies, on Xero, QuickBooks and Excel, upload a trial balance.
Read-only Read-only 
Zenvara Inc.
Zenvara UK Ltd
Zenvara FZ-LLC
Need today's figures? Refresh a company on demand.
Each organization is complete. The group is not.
Most groups on Zoho Books run one organization per company: the Indian parent on one organization, the US subsidiary on another, the UAE company on a third. Each closes its month properly. None of them knows about the others.
So the questions the board asks about the group, such as total revenue, group cash or profit after intercompany, have no report to come from.
- No group statements. There is no balance sheet, profit and loss or cash flow for the group as a whole.
- Different charts. Each organization names and numbers its accounts its own way.
- Different currencies. Rupees, dollars, dirhams and pounds in one group, each needing the right rate.
- Intercompany counted twice. Fees, loans and investments between the companies inflate revenue, costs and assets until they are removed.
How groups do it today
Most finance teams rebuild the group every month in a spreadsheet. Some blend the organizations in a reporting tool. Both take days, and neither keeps a record of who changed what.
| Spreadsheet | Reporting tool | Finconsol | |
|---|---|---|---|
| Intercompany | Found and keyed by hand | Both sides added together | Compared every month and eliminated |
| Currencies | Rates looked up by hand | Each organization stays in its own currency | Translated at closing, average and historical rates |
| New accounts | Re-mapped every month | Mapping breaks without warning | Mapped once; an unmapped account stops the month |
| Locks and history | None | None | Months lock; every change recorded |
How Finconsol works with Zoho Books
Connect each organization
Sign in to Zoho Books once per organization and give Finconsol read-only access. Organizations in different Zoho data centres can sit in the same group.
Map the accounts once
Each organization's chart is mapped to one group chart. When someone adds an account in Zoho Books, Finconsol stops that month and names the account until it is mapped.
Refresh every night
Finconsol reads the ledgers every night, so the group accounts follow your books without exports.
Translate and eliminate
Each company is translated into the group's currency, and intercompany balances are compared and eliminated.
Review and lock
The month is locked once the group accounts are final, and every change is recorded.
What you get
- Group statements: balance sheet, profit and loss, cash flow (indirect method, reconciled to cash) and fund flow, for any month, quarter or year, with comparisons.
- A consolidation worksheet with a column per company, the adjustments and the group total, tied to the statements.
- A group trial balance on one chart of accounts.
- Budget against actual for each company and for the group.
- Your own report layouts, dashboards and board packs.
- Drill-down from any group figure to the company, the account and the Zoho Books transaction behind it.
A group can mix Zoho Books with other systems. Companies on Xero, QuickBooks or anything else join by uploading a trial balance each month.
Connects to Zoho Books. Works with Xero, QuickBooks, or any system that exports a trial balance.
Good to know
- Finconsol only reads from Zoho Books. Nothing is written back to your organizations.
- Eliminations and adjustments are entries in Finconsol, so the group's changes never mix with a company's books.
- Most groups are live in a day.
Questions
Can Zoho Books consolidate multiple organizations?
Does Finconsol change anything in Zoho Books?
How often does Finconsol refresh from Zoho Books?
Can organizations in different Zoho data centres be in one group?
Can one group mix Zoho Books and other systems?
How are different currencies handled?
How long does it take to set up?
See your group in one picture
Thirty minutes, on a group shaped like yours.