Match intercompany balances between entities in minutes. Identify unmatched transactions, timing differences, and prepare elimination entries for consolidation.
Enter transactions for both entities and watch the live preview compare balances in real time.
Pick Excel, Word, or PDF. Each format has a side-by-side layout for both entities with pre-labeled columns.
Fill in both entity names, the IC account reference, the reconciliation period, and opening balances.
Record every IC transaction on each entity's side. The template flags unmatched items automatically.
Investigate unmatched items, post missing entries on either side, and confirm both closing balances match before consolidation.
Grab a blank template in the format that fits your workflow.
Spreadsheet with formulas. Best for multi-entity IC reconciliation in Excel.
Pre-formatted document. Best for sharing with counterparty entities or auditors.
Print-ready layout. Best for sign-off and consolidation workpapers.
Stop reconciling intercompany balances manually. Let automation match transactions, flag mismatches, and prepare elimination entries.
Intercompany reconciliation ensures that what one entity records as a receivable matches what the counterparty records as a payable, so elimination entries during consolidation are accurate.
Pull the intercompany receivable and payable balances from each entity's trial balance for the reconciliation period.
Compile all intercompany invoices, payments, and adjustments recorded by each entity during the period.
Pair each transaction on Entity A's books with the corresponding entry on Entity B's books. Flag unmatched items.
Typical causes: timing differences (one entity books before the other), FX rate discrepancies, transfer pricing adjustments, or missing entries.
Once both closing balances agree, prepare the elimination entry that removes the IC balance from the consolidated financial statements.
Most IC reconciliation problems stem from timing mismatches, inconsistent policies, or delayed communication between entities.
Intercompany reconciliation is the process of matching transactions and balances between two or more entities within the same corporate group. It ensures that what one entity records as a payable matches what the counterparty records as a receivable, so elimination entries during consolidation are accurate and the group financials are clean.
Yes. There is no cost, no account creation, and no watermark on any format. The interactive tool runs entirely in your browser and the downloadable files are yours to keep and reuse.
Monthly reconciliation aligned with the close cycle is standard. Groups with high IC transaction volumes benefit from weekly or even continuous reconciliation to prevent backlogs at quarter-end.
The most common causes are timing differences (one entity books a transaction before the other), different exchange rates on cross-currency transactions, markup or transfer pricing adjustments recorded on only one side, and missing or duplicated entries.
An elimination entry removes the effect of intercompany transactions during consolidation so the group financial statements reflect only transactions with external parties. For example, an IC sale from Entity A to Entity B is reversed so the consolidated revenue is not overstated.
Yes. Enter amounts in each entity's functional currency and note the exchange rate used. The template flags differences that may arise from rate timing or methodology discrepancies.
Templates work for groups with a handful of entities and straightforward IC transactions. Once you manage dozens of entities, multiple currencies, or high transaction volumes, automation handles matching, netting, and elimination entries far more reliably and saves days of manual effort each close.