How to Create Consolidated Financial Reports in Xero with Joiin
Xero is a popular cloud accounting platform, known for its ease of use, flexible reporting, and strong ecosystem. While ideal for individual entities, those managing multiple Xero organisations can build on this foundation – especially when group-level visibility and consolidated insights are needed. Joiin is one of several apps available in the Xero ecosystem designed to support consolidated reporting.
So how do you approach consolidated reporting in Xero and streamline the process using Joiin?
What is consolidated reporting?
Consolidated reporting brings together together key financial data from multiple business entities. Whether you’re reporting on profit and loss, balance sheet, or cash flow, consolidation ensures a unified view of group performance, while also factoring in things like currency conversion and intercompany eliminations.
Understanding what’s possible in Xero
Xero offers robust reporting features for individual entities, including real-time data, tracking categories, budgeting, and powerful financial statements. These tools provide everything needed to manage and understand a single business’s performance.
When it comes to consolidated reporting across multiple Xero organisations, however, Xero takes a flexible approach. Rather than building this into the core platform, it provides integration points through its ecosystem – allowing finance teams to connect apps that specialise in this area.
This approach means that finance teams can tailor their reporting setup to suit their structure and scale, choosing tools that complement Xero and extend its reach. And this is where Joiin comes in.
How to approach consolidated reporting in Xero
For teams ready to take on consolidated reporting, here’s a practical framework to follow:
1. Align your financial setup across entities
Consistency is key. Using standardised charts of accounts, tax rates, and reporting periods across your Xero organisations makes it easier to pull reports together and ensures data integrity.
2. Use tracking categories where appropriate
Tracking categories are a helpful way to segment data within individual entities – by region, department, or cost centre. While they’re not a full consolidation tool, they do support more detailed internal reporting and analysis.
3. Choose a connected consolidation tool
Xero’s ecosystem includes several apps that integrate directly and securely via API. These tools automatically pull data from multiple Xero files and provide features such as:
- Multi-entity profit and loss, balance sheet and cash flow reports
- Currency conversion and group-level reporting in a preferred base currency
- Intercompany transaction elimination
- Budget vs actuals and KPI dashboards
- Custom report packs for board meetings or stakeholders
Using a connected tool simplifies the entire process and removes the need for manual spreadsheets.
How Joiin complements Xero
Joiin is a 5 star Connected App for Xero, helping finance teams create consolidated financial reports across multiple automating manual tasks, delivering real-time insights, and introducing AI-powered features to streamline workflows.
Here’s how Joiin can help:
- Create consolidated reports from multiple entities in just a few clicks
- Automatically convert currencies and display results in your preferred reporting currency
- Eliminate intercompany transactions to ensure accurate group-level reporting
- Report across tracking categories to see how departments or locations are performing
- Compare actuals vs budgets, either at the entity level or across the group
- Customise dashboards and report packs for stakeholders, with charts, KPIs and commentary
Joiin is especially useful for finance teams that need seeking a more efficient, repeatable process that grows with their business.
Final thoughts
Xero provides a powerful platform for managing business finances, particularly for individual entities. For teams managing multiple Xero organisations, its ecosystem makes it easy to connect specialist tools and build a tailored solution for consolidated reporting.
By aligning your financial setup and using a tool like Joiin, you can streamline reporting, reduce manual effort, and gain clearer insights into your group’s performance.
If you’re looking to simplify multi-entity reporting and get more from your Xero setup, Joiin makes it easy to get started, helping you save time and gain clearer group-wide insights.
Explore how Joiin + Xero works and start your 14 day free trial today.
