Feature Update: Consolidate Xero tracking categories and tracking options across your group

Quick Consols now automates the reporting of tracking categories and tracking options across all the companies in your group on Xero.

If you need to add tracking categories, aggregate tracking categories or consolidate tracking categories across different or multiple companiesin your group, Quick Consols now automates that process.

How to consolidate by Xero tracking category in Quick Consols

Through our integration with Xero, Quick Consols retrieves the profit and loss by tracking category and tracking options for all the companies in your group, including all unassigned transactions, so that you can consolidate by tracking category, tracking option or by company depending on your requirements.

If you have the same tracking category in multiple companies across your group, use the Business Units function in Quick Consols to combine tracking categories across the companies you choose giving you almost unlimited flexibility. You can also combine tracking categories as needed.

What are tracking categories in Xero?

Xero tracking categories are dimensions that you tag transactions with for more segmented analysis. This allows you to segment transactions by department, location, project, or cost centre within individual entities, consolidating that dimensional data across your group has traditionally required a manual download of a trial balance by tracking category from Xero which would then need to be uploaded into your consolidation tool or excel.

Quick Consols and Xero tracking categories

From this month consolidation by tracking category will be available at no extra cost. Specifically for customers using our Xero integration, this feature removes manual uploads of trial balances by tracking category and now allows the integration with our trusted partner Xero to be fully automated without any manual intervention.

Quick Consols solution

Quick Consols automates the heavy lifting of multi-entity consolidation by handling multiple currencies, year-ends and eliminations with ease. Our new tracking category consolidation capability takes this a step further by allowing you to bring these dimensions into Quick Consols.

If you’re a Xero customer making use of tracking categories and wondering, how do I consolidate tracking categories across my group or multiple companies and would like to automate your monthly reporting, we have the perfect solution for you. Without losing any detail in the consolidation process, Quick Consols preserves your tracking category dimensions so that you can build reports that mirror how you manage your business.

Get in touch

Let us help your finance team save time at month end and provide you with the numbers you want to see get in touch with our sales team for a demo booking here.

‍