Intercompany Reconciliation
Agree each intercompany balance to the group entity’s own confirmation of it.
- Ledger + intercompany balance confirmations
How the result is read
Intercompany balances eliminate on consolidation only when both sides agree (IFRS 10.B86, ASC 810-10-45-1, FRS 102.9.15), and for the entity’s own accounts they are related-party balances to disclose. Each group entity confirms what it owes or is owed; this ledger’s figure is read from the account named for that entity, or from every balance-sheet line carrying its code. A balance one side holds and the other does not is almost always a charge booked once — a management fee, a recharge, interest on a loan.
In the application
Intercompany Reconciliation is filed under Completion, index letter L. "Run all analyses" runs it with every other analysis the ledger and the documents loaded can answer. The worksheet states the population it tested on its face — or "Not applicable" with the reason when a column it depends on is empty — and the Excel workbook the engagement exports files it under L, beside an index of the source files with their SHA-256 fingerprints.
Read it with
Run your next audit file test without the Excel crash.
One free engagement to evaluate, valid 60 days. The ledger never leaves the machine.
- 20 minutes
- Runs on a fictional engagement
- No client data required