The Inter-Entity Reconciliation (IER) feature helps you confirm that balances recorded in one entity align with the corresponding balances in another. It’s designed to make inter-company balances accurate and easy to manage.
When to use inter-entity reconciliations
You’ll typically use IER when specific account balances should match across entities, such as for the following inter-entity situations:
Interest charges
Rent
Related party loans
Service charges
Distributions
Dividends
Benefits of inter-entity reconciliation feature
Prevent mismatches across entities.
Save time by removing the need for manual checks.
Improve visibility by showing reconciliation status directly in worksheets.
Stay consistent by reusing reconciliations across future years.
How to get started
There are two steps to working with IER:
Setting up Inter-Entity Reconciliations - define which accounts in one entity should reconcile to accounts in another.
Using Inter-Entity Reconciliation Worksheets - apply those reconciliations within workpapers to check balances side by side.