Books per entity
Each company, LLP or branch with its own books, on a shared chart of accounts.
All accounting & bookkeeping services
Accounting & Bookkeeping
Multi-Entity Accounting
FinAura keeps separate books for each company, LLP and branch, on one chart of accounts so they can be read side by side. Inter-company and inter-branch balances are agreed every month, and where a group must present consolidated financial statements, we prepare them with the eliminations documented.
- Reviewed by Chartered Accountants
- Zoho Books and Tally Prime
- Bangalore and across India
What is covered
What Multi-Entity Accounting Covers
Every entity on its own, all of them read together.
Books per GST registration
Each state registration accounted for separately, with its own returns data.
Inter-company balances
Balances between group entities agreed monthly, so both sides always match.
Cross-charges
Shared costs and services between entities charged and documented, with GST where it applies.
Consolidation
Consolidated statements with inter-company items eliminated and each adjustment documented.
Group reporting
One monthly view across the group, with each entity's numbers behind it.
How the month runs
A Month of Group Accounting
Every entity closed, inter-company agreed, and one group view.
Week 1
Close every entity
- Each entity's books closed
- Inter-company agreed
- CA review
Week 2
Group view
- Cross-charges raised
- Group report prepared
- Queries in one list
Week 3
Record
- Each entity posted
- Branch transfers matched
- GST data per state
Week 4
Ready to close
- Balances agreed both sides
- Open items chased
- Nothing in suspense
Your part
What We Need From You
- 01The list of entities, branches and GST registrations
- 02Documents for each entity, kept separately
- 03Agreements for shared costs and inter-company loans
- 04Who approves for each entity
Our part
What You Get Every Month
- Separate, current books for every entity
- Inter-company balances agreed every month
- Cross-charges raised and documented
- A group view each month
- Consolidated statements where required
A common question
When does a group need consolidated financial statements?
A company with one or more subsidiaries, associates or joint ventures prepares consolidated financial statements in addition to its own. They show the group as if it were one business, with balances and transactions between group companies removed.
Even groups that are not required to consolidate often want a group view for decisions and lenders. Either way, consolidation only works if the inter-company balances agree every month.
See Virtual CFO servicesGroup viewConsolidated where required
Agreed balancesInter-company matched both sides
Entity booksEach company, LLP and branch
Who it is for
Groups and Businesses We Account For
Groups of companies
A holding company with subsidiaries or sister concerns.
Businesses in several states
Branches with separate GST registrations.
Indian subsidiaries
Local books plus reporting to the foreign parent.
Founders with several ventures
Separate companies and LLPs that need to stay separate.
The rules, in plain English
What the Law Says
Companies Act, 2013
Section 129(3)
A company with one or more subsidiaries, associates or joint ventures prepares consolidated financial statements in addition to its own.
Official source: mca.gov.inAccounting Standards
AS 21 / Ind AS 110
Consolidation combines the parent and subsidiaries line by line and eliminates balances and transactions within the group.
Official source: icai.orgCGST Act, 2017
Section 25 and Schedule I
Each GST registration is a distinct person, so supplies between registrations of the same business can be taxable even without payment.
Official source: cbic-gst.gov.inThis is general information, not advice for your situation; we confirm what applies to you before any work starts.
Questions we get asked
Multi-Entity Questions, Answered
What is consolidation of accounts?
Combining the financial statements of a parent and its subsidiaries into one set, removing balances and transactions between group companies, so the group is shown as a single business.
Does every group company need consolidated statements?
A company with subsidiaries, associates or joint ventures prepares consolidated financial statements in addition to its own, under the Companies Act. We confirm what applies to your group.
How is branch accounting different from multi-entity accounting?
Branches are part of the same legal entity; separate companies are different legal entities. For GST, each state registration is treated as a distinct person, so supplies between branches in different states can be taxable.
Can all entities be in one Zoho Books or Tally Prime?
Each entity has its own company file or organisation, set up on the same structure so they can be compared and consolidated.
Do you handle transfer pricing too?
Our taxation team handles transfer pricing documentation for related-party transactions; see taxation.
Often Taken Together
All 10 Accounting & Bookkeeping services01Accounting & BookkeepingEnd-to-End AccountingYour full finance back office: bookkeeping, reconciliations, vendor and customer ledgers, monthly close and reports, so you don't need an in-house accounts team.02Accounting & BookkeepingFinancial StatementsMonthly, quarterly and annual profit and loss, balance sheet and cash-flow statements, prepared in the Schedule III format where it applies.03Accounting & BookkeepingAccounting on Zoho Books and TallyWe work in your system, or set one up for you, so your data stays yours and your team can see the books at any time.04Accounting & BookkeepingBookkeepingDaily or weekly recording of sales, purchases, expenses and bank entries, with every entry coded to the right ledger and GST head.05Tax & ComplianceTaxationGST, income tax, TDS, tax planning and notice replies, from reconciled data.06Accounting & FinanceVirtual CFOA Chartered Accountant reading your numbers, planning cash and guiding decisions.