Consolidating Xero accounts

This tool is no longer available on Xero. If you have any questions please reach out to Xero support.

 

47 Comments

Toby
July 20, 2011 at 6:43 pm

perhaps i am missing something…but where can we get this macro from?

Richard Phillips
July 21, 2011 at 8:14 am

@Toby – well spotted and quick too! The macro will be available in the Resources tab of Xero Partner Edition when we roll the next release in early August.

David Barton
July 21, 2011 at 11:46 am

Wicked. Can’t wait to try it out

Gavin
July 21, 2011 at 11:49 pm

Does it handle multiple companies in multiple countries?
Also why do we have to use a macro? Seems like a cheap and dirty work around. Surely we should be able to do this properly within xero?

Kim Ashurst
July 22, 2011 at 12:38 am

I can’t wait to see this – is this coming out in the UK version as well?

Toby
July 22, 2011 at 5:05 am

@Richard Partner Edition?? Does that mean I won’t have access to it, even though I have 4 “Large” Xero accounts?

James Riddell
July 25, 2011 at 11:10 am

+1 for having the macro available to regular non partner-edition users.
+100 for having this available as standard in the Xero application. I would pay for a new organisation that was a consolidation of other organisations if necessary.

Richard Phillips
July 25, 2011 at 12:23 pm

@Toby happy to provide this to anyone who wants it – not just partners.
@Gavin building this into Xero is something we could look to do. For now we need to focus our resources on building out core features and into areas where we get a lot of requests. In the meantime we thought it would be good to offer this functionality via a tool our accounting partner Deloitte have built. We’ll continue to monitor the requests for making this part of Xero.

Toby
July 25, 2011 at 9:12 pm

@Richard Thanks for email, I think you could safely assume any person that has more than one account would like a consolidation tool!

Gavin Cooney
July 26, 2011 at 4:56 am

@Richard So in other words there is no multiple currency support?
Also just noticed that it’s only for partner edition. So not only is the ‘feature’ a cheap excel hack, with no multiple currency support, it’s not available to us meer mortals with multiple companies on xero?
C’mon xero… you’re better than this!

Rod Drury
July 26, 2011 at 9:33 am

Proper consolidations from Xero will come after we’ve delivered Report Packs completely as they build the foundations for smart consolidations. This Excel spreadsheet from Deloitte is a good temporary measure. We have also seen others use the Reporting API to pull reports out of Xero in XML and consolidate in code.

No reason why the Excel spreadsheet can’t be extended to handle currencies.

Sorry but as always there is so much to do but native consolidations is a direction we’re working towards as you can see with the Report Pack work.

Rod

Denis Breen
July 28, 2011 at 11:30 pm

Well Done Xero
This should be very useful. We’d prefer to keep consolidation in Excel anyway. Looking forward to the report pack release.

AJ
August 25, 2011 at 3:08 am

Please can I have the spreadsheet, not a partner but have 2 multi currency accounts. tips for using this with multi currency appreciated

Jon Stacey
September 2, 2011 at 4:51 am

Guys, any sign of this appearing – I can’t see it in the resources section of the partner edition but perhaps I’m missing something?

Richard Phillips
September 2, 2011 at 9:06 am

@Jon, expect to see this in Partner Edition in the next week.

James McCarthy
September 5, 2011 at 7:57 pm

Could I please have a copy of the spreadsheet? Thanks in advance.

Adrian Rands
September 13, 2011 at 3:04 am

Can I also have a copy of the spreadsheet or a link to the file? Thanks.

Richard Phillips
September 16, 2011 at 2:08 pm

Quick update everyone – this tool is now available for partners in Xero Partner Edition – Resources tab. For any non-partners that would like access, please email support@xero.com and we’ll be happy to provide it.

Samantha Smith
September 22, 2011 at 1:17 pm

Awesome work guys, I keep falling in love with you over and over again!!

David Carr
November 3, 2011 at 1:33 pm

Has anyone used this consolidation tool? How useful have you found it?

Declan
November 18, 2011 at 3:43 am

Can the consolidation tool handle multi currency? i.e UK GBP accounts converted to Euro then consolidated with Irish Euro accounts

Richard Phillips
November 18, 2011 at 9:47 am

@Declan, you’ll need to convert figures to a standard currency first – then consolidate.

craig
November 18, 2011 at 4:04 pm

I have requested a copy of this macro from Support, so when I get it I will have a play … but realistically, I agree with others, this needs to be a core feature!
Along with the ability to run other reports across a group (e.g. how much did our subsidiaries spend with Supplier X in the last 6 months). Anyone know of any offerings from 3rd parties that might make this easier?

Mel Cann
December 22, 2011 at 11:02 pm

I’ve tried to run this but it keeps throwing up an error message, even on the demo version (‘an error has occurred on the reports – please try again’). Any of you have had error messages? If yes, how did you get round them? Thanks.

Richard Phillips
December 23, 2011 at 10:32 am

@Mel we’ll be in touch to help you get this running.

Dan
February 14, 2012 at 12:18 pm

Hi there, I’m getting the same problem as Mel Cann above. Can’t even get the demo to work. Thanks!

Elizabeth Salter
February 21, 2012 at 11:51 am

What an awesome resource. Thank you!

sharon
April 1, 2012 at 9:07 pm

can I have a copy of this macro please?

Debbie
August 28, 2012 at 7:04 pm

Cant even find consolidation under Resource Tab?

Richard Phillips
August 29, 2012 at 10:02 am

@Debbie it’s under the Practice Resource section in the Resource Tab

Gabrielle
October 10, 2012 at 1:06 pm

Demo worked but not when I’ve tried with our companies! Can it be because 1 company has 13 bank accounts and the other only one ??? and 1 have same account number but different name? + intercompany same accounts but different name!

Richard Phillips
October 10, 2012 at 1:14 pm

@Gabrielle – this tool is now quite out of date. We haven’t updated it as there is now an Add-on Partner that provides this service. You can check them out at http://www.spotlightmulti.com/

Gabrielle
October 10, 2012 at 3:50 pm

This tool was given to me today by Xero support! Thx. Will look into the Add-on

Michael Graham
November 29, 2012 at 5:37 pm

Richard, can you pelase send me a copy of the excel tool.
Thanks
Michael

Richard
February 12, 2013 at 2:16 pm

Oh well, I’ll have to wait to change to Xero it seems as I don’t want to use a macro to get such reports out. And as somebody else has said ‘what about multiple currency?’

Richard Francis
February 14, 2013 at 10:38 pm

Hi everyone. Spotlight Reporting (www.spotlightreporting.com) produces simple consolidations (including multi-currency) for up to 10 related Xero orgs. Each org gets a Spotlight Report as well as the consolidated ‘group’ view, great for performance tracking and informed decision-making. Extended functionality is due soon.

Gina
April 17, 2013 at 7:01 am

Has anyone used Spotlight? I don’t want to have to convert my GBP balance sheet into USD, MYSELF, before consolidating with my USD balance sheet. That is the major pain point with consolidating, and the reason lots of folks are looking for multi-company, multi-currency consolidation. Does Spotlight have this capability?

Chris
June 6, 2013 at 7:10 pm

Spotlight Multi looks like it could be useful. They offer a free demo / trial period. It seems easy to connect your subsidiaries up.

Major problem so far is that, after connecting my subsidiaries up, it fails to build the report so I actually haven’t seen if it is any good or not! I have logged this with their help desk and they got back to me very quickly but have yet to actually fix or advise. In addition,

I have two other queries logged with them I am yet to hear back on:

(1) I can’t see where Spotlight Multi allows me to enter in any consolidation elimination entries – very important for groups of companies, and

(2) because I can’t see the reports yet (as they fail to build), I don’t know how Spotlight Multi handles foreign currency conversion – it says it does it but the devil is in the detail and I want to know how it converts previous months P&L’s as well as how it converts Balance Sheet accounts such as Retained Earnings etc.

Does anybody have any experience with Spotlight Multi or can answer any of these queries?

Richard Francis
June 7, 2013 at 9:44 pm

Hi Chris

I’m reluctant to go into details of a recent support ticket raised for our product on the Xero blog, but:

+ Multi has an editable data grid for you to perform any eliminations; and
+ Multi uses the same foreign currency conversion service as Xero, albeit not at a transaction level.

Multi is primarily designed for large-scale aggregation, benchmarking etc of franchises and not-for-profits. You’ll probably find Spotlight Reporting (which can consolidate 10 related entities) as a more fit-for-purpose tool.

From our website you can access training resources including video tutorials.

We are best suited to simple consolidation needs at this time and don’t necessarily feel that we are there yet for year-end and complex needs. The Spotlight tools are focussed primarily on the trusted advisor, advanced management reporting space.

We’ll be in touch soon. Thanks.

Daniela
January 31, 2014 at 4:23 pm

Could anyone at XERO provide a current update on the direction of consoldiation . We currently use XERO but need to perform consolidation functions that we no longer wish to do in excel.

David Watson
February 3, 2014 at 2:56 pm

Hi Daniela,

If you are open to using an add-on solution for consolidations, you may wish to try Fathom ( http://www.fathomhq.com/ ). Fathom helps you to group your related companies together to easily create consolidated reports.

A few key features:
– Fathom enables consolidation for small and large groups (up to 250 entities).
– Fathom consolidates both your financial and non-financial results and also any targets.
– If required, you can easily process eliminations to filter the impact of any intercompany accounts (ie intercompany loans, management fees etc…) from your consolidated analysis.

In addition to consolidations, Fathom also helps you to easily compare, rank and benchmark each of your companies. This is specifically useful for franchises and other multi-entity organisations.

Daniela, please let me know if I can assist with a guided tour of these features.

J
February 13, 2014 at 12:38 pm

This is exactly function i am looking for. Could you please email me? Thanks!

Ernest Ong
February 19, 2014 at 2:59 pm

This is the function i am looking for. Could you email me please.

Peter Clarke
February 28, 2014 at 8:46 pm

Xero … stop beating around the bush and make this a core feature.
I have 2 branches i keep in seperate accounts, … downloading the reports then consolidate in excel … takes too long .. all i want is a quicksnapshot each week.
I dont have an hour to spare to go through the excel process.
Thanks for moving this up to the important new features.

Jane Cooke
June 18, 2014 at 3:43 am

We have recently converted our three global companies to Xero. One based in Europe, one in the USA, one in Australia, with over twenty years experience advising others and overseeing the finance function in a number of diverse organisations I expected this change over regardless of the amount of preparation and planning invested to equate to my recent trip to the dentist to extract a much loved tooth, to take longer than anticipated, hurt more than could be possible given the pain killing injections, the actual implementation very uncomfortable, being vulnerable feeling exposed and very intrusive, and once the operation was over, the discomfort at the new feel of my mouth harder to operate and adjust to. It hasn’t been, the implementation of Xero has been easier and quicker than anticipated the functionality better and more comprehensive than I believed, the ease and comfort with adapting to its use amazing in it being such a non issue. Why am I writing this comment then, well because the one and only shortfall and disappointed I have had with Xero to date is this blogs topic Consolidated Accounts, doesn’t do it, isn’t doing it and given the last comment on this blog was Feb 2014 you Xero guys might be thinking it doesn’t matter. I just would like to let you know that it does and it is your one thing that is well how can I say this nicely letting you product and brand down in my eyes, it basically places the product in the sole trader, corner shop, well, myob market. I have had to go out and find third party solutions, which I have what I don’t understand is that this is not brain surgery, you guys could do this added feature quite easily so please put it back on your to do list from three years ago and do it. I know you can.

Cameron
June 19, 2014 at 5:07 pm

Is this macro tool still available? If so, where can I download it please?
I’ve looked at the Spotlight option recommended by Xero and think the macro tool will possibly suit us better.

Gregory Parsons
September 28, 2014 at 8:18 pm

We have 4 Xero entities that we consolidate on a regular basis. All are different currencies. If anyone is interested in using our consolidation solution (cloud based subscription) let me know. Consolidation can be managed for a larger number of entities. If you are interested email me at parsons@maxiplan.com.

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