Many books. One close.
Every entity stays on its own books. Aleq rolls them into one consolidated close — without the month-end spreadsheet.
Today, consolidation is a spreadsheet someone rebuilds every month.
Pull a trial balance out of each entity's ledger. Re-key the foreign books into pounds and euros and dollars by hand. Hunt the intercompany mismatch where the US recorded $840,000 and the UK booked £661,000 at last month's rate. Build the eliminations in a tab, plug the translation difference until the group ties, and pray the formulas survived. Six entities, three currencies, one analyst, most of a week — and the consolidated number is only as good as a cell reference. This is the work Aleq does instead.
Each entity, in its own currency.
Your UK and German books stay in pounds and euros, the way the locals keep them. Aleq translates each one into your reporting currency at the rate it should use — balance sheet at the closing rate, income at the period average — and shows you the rate behind every line. Nothing is converted on a number you can't see.
Intercompany, eliminated.
When the US bills the UK for shared services, that's a receivable on one set of books and a payable on the other — real to each entity, but not to the group. Aleq matches the two sides, nets them to zero in consolidation, and leaves the standalone books untouched. You see exactly what came out and why.
The mechanics, on real rates.
Three things make a group close hard, and Aleq does all three on numbers you can see. Balance-sheet accounts translate at the May closing rate, the P&L at the period average, and the gap between them lands in CTA — not earnings. Every intercompany balance is matched two-sided and netted to zero in consolidation. And dollar-denominated balances sitting on a foreign book get revalued at period end, with the FX gain or loss posted where it belongs.
Translated at the right rate, every time.
Every translation posts as a real, balanced journal entry — the source balance, the rate, and where the difference lands. When rates move, the difference goes to cumulative translation adjustment in equity, not into earnings by accident. You can open any entry and trace the number all the way back.
Every relationship is a belief it earns.
Consolidation isn't one rule — it's a relationship between each pair of entities and each entity's mappings. TAMi, the mind behind Aleq, learns them one at a time: how the US bills the UK, how the GmbH's chart maps to your consolidated one, which rate source feeds each currency. Every relationship carries its own belief, weighted by how many closes it has matched cleanly. A relationship it has run forty times runs alone; a freshly acquired entity drafts and asks first. You can open any belief, see how sure it is, and switch it off.
What controllers ask first.
Can Aleq consolidate while we still run another ERP?
Yes — that's the on-ramp. Aleq runs the group consolidation as the system of record while an incumbent ERP still holds some entities during the transition; it doesn't have to own every entity on day one. You bring entities into Aleq's consolidation as you go, and cut the rest over when you're ready. No all-or-nothing switch.
How do you handle intercompany eliminations?
Aleq matches the two sides of every intercompany balance — the receivable on one entity and the payable on the other — and removes them in consolidation only, so the standalone books stay exactly as the local team keeps them. Each elimination shows both sides and nets to zero. A relationship it has seen many times runs on its own; a new one drafts and waits for your approval.
What FX rates do you use, and how is CTA handled?
Balance-sheet accounts translate at the period closing rate and income-statement accounts at the period average, with each rate shown on the line it applied to. The resulting translation difference posts to the cumulative translation adjustment within accumulated other comprehensive income — equity, not earnings — per ASC 830, and you can open the entry to see the source balance, the rate, and where it landed. Dollar-denominated monetary balances on a foreign book are revalued at period end, with the FX gain or loss recognized separately. You can review or adjust the rates before anything is locked.
Is the consolidation auditable across entities?
Yes. Every translation and elimination posts as a balanced journal entry that carries its own support — the source balance, the rate or the matched intercompany line, the reason, and a signature — so it reviews like a well-documented manual entry. The full trail exports per entity and for the group, and you can see who or what touched every number, all the way back to the local books.
What about a new entity or an acquisition?
You add it to the group and map its accounts to your consolidated chart; Aleq starts translating and eliminating for it from there. While it's new, Aleq drafts the entries and holds them for your approval rather than running on its own — it earns autonomy on that entity the same way it does everywhere else, once it has matched enough closes. Aleq drafts and prepares the consolidated close; it doesn't file your returns or replace your review.
Consolidate your group with Aleq.
Bring in the entities Aleq runs and watch a real month consolidate — each one translated at the rate you can see, intercompany eliminated, the group tied out and in balance.