Reports
Consolidated financial statements
If you have multiple organizations on Wafeq, you can generate consolidated financial statements.
Which reports can be consolidated
You can generate consolidated financial statements for three reports:
- Profit and Loss
- Cash flow
- Balance sheet
How to view a condolidated report
To view a consolidated report:
- Go to
Reports
in the left side menu, then go toAll Reports
. - Under the
Consolidated financial statements
, click one of the reports. - By default, you will see the report of the currently active organization
- To add more organizations to the report, click the
Filter
in the top right corner, and in theOrganization
dropdown select the organizations you would like to add to the report - You can change the reporting currency if required
User permissions
You must have the permission to view the report for each organization in order to be able to consolidate it. For example, if you're generating the Consolidated Profit and Loss
report, you must have the Profit and Loss Report
permission.
How consolidation works
Wafeq will consolidate the reports by adding up the amounts for each account and each organization. The account code
, name
and type
of the account must all match exactly across each organization so that Wafeq calculates the sum.
Multi-currency consolidation
Wafeq can even consolidate reports of organizations that have different base currencies. To do that, Wafeq will convert each organization's reports to the reporting currency based on the exchange rates prevailing at the end of each period.