Consolidations
How to setup Consolidations?
Setup multiple files for each entity, add a group and then assign the files to the group.
You can add a group under the "Organisations" menu item which is on the page that appears when you first login to Magnifi. There is a sub menu item called "Groups" and once the group is added you can then assign the file as follows under organisation details (select edit icon that appears next to the organisation name)
This will add a 3rd layout of reporting, meaning you can report by group, entity or division. The organisation flowchart which appears under "Add Division" (drop down at top of screen) will then reflect 3 layers as per following example:
Consolidated Reporting
You can export the reports to excel to view the consolidated report. An option appears at the bottom of the relevant features (eg Actual v Budget) called "Export Group" and once exported, it will produce the consolidated report in excel with various worksheets including an organisation comparison. You can exclude "inter-group" accounts under Chart of Accounts which will exclude any values that appear within an organisation.
You can also view the consolidated reports and charts under Dashboards.
How to exclude Inter-Entity accounts?
Under Chart of Accounts, you can exclude Inter Entity or Inter Group transactions from the Consolidated Reports as shown below;
Inter-entity will remove the divisional account values when you filter your reports at the "All Divisions" level.
Inter-group will remove the organisation account values when you export the group report to excel.