Solution of the Week - Consolidated Balance Sheet for multiple orgs, multiple countries with different base currencies
In the previous posts, we discussed how to create a consolidated balance sheet for scenarios using Zoho Analytics where multiple outlets operate within a single country using the same base currency, and for cases where there is an organization with a branch in different countries with different base currencies.
However, if your business has, for example, three outlets in the USA and two in Canada, the previous solutions might not fully meet your needs. This post will guide you through the process of creating a consolidated balance sheet for similar scenarios using Zoho Analytics.
First, we need to create tables to consolidate the data from all organizations and convert their different base currencies into a single base currency.
Here's how to create these consolidated financial reports:
- Import Data: Start by importing data from multiple organizations within the same country using the multiple organization setup feature in Zoho Analytics. Refer to the below presentation for detailed steps.
- Add Data Sources: Add other Zoho Finance organizations that use different base currencies into the same workspace by using the Add Datasource option.
- Create a Currency Table: Establish a currency table that includes conversion rates.
- Unify Tables: Create query tables to consolidate the Organizations, Accounts, and Accrual Transactions tables from all organizations. Refer to the sample queries provided for guidance on creating these tables.
The following presentation shows in detail how to create Consolidated Reports for multiple orgs, multiple countries with different base currencies.