If you have multiple organizations on Wafeq, you can generate consolidated financial statements.
Which reports can be consolidated
You can generate consolidated financial statements for three reports:
- Profit and Loss
- Cash flow
- Balance sheet
How to view a condolidated report
To view a consolidated report:
- Go to
Reportsin the left side menu, then go to
- Under the
Consolidated financial statements, click one of the reports.
- By default, you will see the report of the currently active organization
- To add more organizations to the report, click the
Filterin the top right corner, and in the
Organizationdropdown select the organizations you would like to add to the report
- You can change the reporting currency if required
You must have the permission to view the report for each organization in order to be able to consolidate it. For example, if you're generating the
Consolidated Profit and Loss report, you must have the
Profit and Loss Report permission.
How consolidation works
Wafeq will consolidate the reports by adding up the amounts for each account and each organization. The
type of the account must all match exactly across each organization so that Wafeq calculates the sum.
Wafeq can even consolidate reports of organizations that have different base currencies. To do that, Wafeq will convert each organization's reports to the reporting currency based on the exchange rates prevailing at the end of each period.