Transforming Monthly Management Accounts: How Automation and Expertise Solved a Group-Wide Headache
When our client, a fast-growing group operating across multiple entities and currencies came to us, they were facing a familiar but frustrating problem: their month-end close was slow, stressful and riddled with reconciliation issues.
Despite using Xero across the group, they were still relying on spreadsheets to manage intercompany balances and cost recharges. The result? Hours lost to manual matching, inconsistent records, and a lack of clarity around performance across entities.
The Challenge
The finance team was under pressure. Their month-end process had to be completed in just a few days, but they were battling:
• ⏱️ Time-consuming intercompany reconciliations
• 🔄 Inconsistent recognition of shared services, payroll and marketing costs
• 💱 Currency mismatches and bank fees that created hidden discrepancies
• 📊 A lack of transparency across entities, making it hard to see who owed what
Manual processes weren’t just inefficient; they were holding the business back.
Our Approach: Oversight and automation
Rather than adding headcount or more hours in Excel, we implemented a Xero-connected app tailored to their operations, layered with our expert oversight. Here is how we tackled it:
1. Continuous Intercompany Reconciliation
The app pulled all intercompany postings into one dashboard, flagging mismatches instantly whether due to timing, FOREX or bank fees. Reconciliation became a daily habit, not a month-end panic.
2. Smart Rules for Cost Sharing
We worked closely with the client to understand how they allocate costs. Then we built custom rules that automatically posted journals, bills and invoices across entities. This ensured consistency and a time saving solution.
3. Seamless Cross-Entity Payments
When one entity paid on behalf of another, or when bank charges affected transfers, the system recognised and allocated the true cost automatically. No more back-and-forth adjustments.
4. Ongoing Monitoring and Refinement
As the Company grew, adding new entities and services, we adjusted the rules to keep pace. Their financial data always reflected the real business picture.
The Results
With hands on support and introducing automation, our client was delighted to see:
• 📈 Faster reports: Management accounts ready in days, not weeks
• ✅ Confidence in the numbers: No mismatches or missed recharges
• ⏳ Efficiency gains: Finance team freed from spreadsheet chaos
• 🔍 Transparency: Clear visibility of costs and balances across entities
• 🧾 Audit-ready records: Every transaction traceable and compliant
• 🚀 Scalability: A framework that grows with the business
Why It Matters
At Finling, we don’t just deliver reports, we understand the business and we build processes that reflect how your business really runs. With the right tools and our expertise, your management accounts become a strategic asset: accurate, timely, and ready to guide decisions.
📞 If intercompany reconciliation or a stressful month-end close sounds familiar, let’s talk, we’d be happy to show you what your process could look like. Please get in touch by clicking the link here