Author: BrizoSystem
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Intercompany Transactions Elimination: Step-by-Step Accounting Process
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In group accounting, one of the biggest challenges is ensuring that financial statements present an accurate and fair picture of the business as a whole. This means more than simply consolidating numbers from multiple entities—it also requires eliminating intercompany transactions. If left unadjusted, intercompany activities can inflate revenue, expenses, assets, and liabilities, leading to misleading…
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Introducing Pulse: Your SME’s Real-Time Business Vital Signs
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in NewsPulse is BrizoSystem’s newest sidebar feature, designed specifically for small and medium enterprises. Rather than juggling multiple reports, Pulse delivers four core indicators—Key Metrics, Cashflow, Receivables, and Payables—in one dynamic view. It’s your business at a glance, empowering you to spot trends, mitigate risks, and drive growth without digging through spreadsheets. What Is Pulse? Pulse…
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The Complete Guide to Intercompany Eliminations in Consolidation
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When companies grow into multiple entities, transactions between those entities become inevitable. But when it comes time to prepare consolidated financial statements, these intercompany balances can distort the true financial picture. That’s where intercompany eliminations come in. In this guide, we’ll walk through what intercompany eliminations are, the challenges finance teams face, the different types…
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Consolidation vs Aggregation – What’s the Difference (and Why It Matters)
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When it comes to financial reporting across multiple companies, the terms “consolidation” and “aggregation” are often used interchangeably—but they are not the same thing. Understanding the difference is essential for any finance leader managing a group of entities. What Is Aggregation? Aggregation simply means combining data by stacking it together. If you have three subsidiaries…
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The Role of a Common Chart of Accounts in Group Consolidation
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When managing a group of companies, especially across different countries or business lines, one of the most critical challenges in financial consolidation is chart of accounts (COA) inconsistency. Each subsidiary may have its own naming conventions, account structures, and classifications—making group-level reporting a nightmare. That’s where the Common Chart of Accounts (CCOA) comes in. It’s…
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Stop Chasing Numbers: Automate Your Board Pack Reporting
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in ReportingTime is money—and nowhere is that more obvious than in the finance department at month-end. If you’ve ever spent the last few days of the month copying and pasting figures from different spreadsheets, formatting slides for board meetings, or chasing down the latest version of a report, then this post is for you. Manual board…
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Introducing Pulse (Beta): A New Way to Monitor Key Financial Metrics in BrizoSystem
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in NewsKeeping a close eye on your company’s financial health shouldn’t require jumping between multiple reports and dashboards. That’s why we’re excited to introduce Pulse (Beta) — a new feature in BrizoSystem that brings your most critical financial indicators together in one clean, visual interface. Currently in beta, Pulse provides a concise yet powerful summary of…
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How Do I Run Consolidated Group Financial Statements in MYOB?
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Introduction: The Challenge of Consolidation for MYOB Users MYOB is a trusted accounting platform for thousands of businesses across Australia and New Zealand. It’s known for its local tax compliance, payroll tools, and general accounting features. However, as your business expands into multiple entities—whether due to geographic spread, structural complexity, or group ownership—you’ll likely encounter…
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How Do I Run Consolidated Group Financial Statements in QuickBooks?
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Introduction: The QuickBooks Challenge for Multi-Entity Companies QuickBooks is widely used by small to mid-sized businesses for its user-friendliness, affordability, and rich feature set. It helps companies manage bookkeeping, invoicing, payroll, and taxes efficiently. However, as businesses scale and operate across multiple entities—whether due to expansion, acquisitions, or international operations—they often run into a major…
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How Do I Run Consolidated Group Financial Statements in Xero?
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Introduction: Xero and Multi-Entity Reporting Xero is a powerful cloud-based accounting platform used by businesses worldwide. It’s widely appreciated for its simplicity, real-time access, and integrations. However, one common challenge arises for businesses that operate across multiple entities: consolidated financial reporting. By default, Xero is designed to manage the financials of a single entity. It…