Financial statements are very important for a company. The company needs to conduct regular checks to ensure the financial statements are in good condition. Usually, companies that have many subsidiaries have complex reports, this makes it difficult for the manager team to monitor financial reports. Not to mention other problems that arise due to poor recording of financial statements, stakeholders will have difficulty making decisions.

TILabs offers a solution by providing Consolidation Reports as a powerful tool to combine financial data from multiple subsidiaries into one cohesive report. The available features automatically handle intercompany eliminations and ensure that intercompany transactions are accurately linked. To produce efficient and easy-to-understand financial statements. Apart from that, we have an internal ERP system, namely SudoERP and SudoHR, which was created to meet the specific needs of the company, as a tool for effective management so that it can be used to help run business processes smoothly. The following are some of the things to consider when using the Consolidation Reports feature in Odoo.

1. Configuration Process

Make sure that the subsidiaries you want to consolidate are registered in Odoo. Configuration is an important first step to follow up the consolidation report.

2. Accounting Module

Set up the Accounting module according to what is needed by the company and do not forget to activate the consolidation feature, if the default is not available then do additional configuration or prepare a special module so that the Consolidation Reports.can be used optimally.

3. Elimination of Transactions

This elimination process is used to make corrections or delete transactions that occur between subsidiaries in one unit when preparing the Consolidated Report. This process helps users to avoid double transactions while providing overall information about the financial statements of the listed subsidiaries.

4. Report Types

Odoo provides a fairly complete range of financial reports to make it easier for users to reach the reports that the company needs. The financial reports that can be viewed include income statements, balance sheets, cash flow statements, and so on.

5. Review

Stakeholders can use this report to ensure the data is accurate so that it can be used to make decisions.

The Consolidation Reports.is a tool for companies that have many subsidiaries to provide healthy and accurate financial reporting conditions.