Financial consolidation software the practice runs across group clients without an enterprise CPM rollout.
Let AI Agent run your consolidation
Map entities
"Map the group structure for this client's consolidation in Xero. Pull every entity in the group from the practice's records, confirm parent ownership percentage per subsidiary, reporting currency, ledger system and reporting cycle. For each entity, pull last period's trial balance and tie to the prior consolidation. If the group structure has changed since the last consolidation through an acquisition, disposal or restructuring, ask me whether to reflect the change retrospectively or prospectively. Pause before changing the group structure on file. Ask me where the practice stores the share register evidence. Save the entity map and the supporting evidence to Google Drive ready for the consolidation build."
Eliminate intra-group
"Eliminate intra-group balances and transactions across this group's entities in QuickBooks. Pull each entity's trial balance, identify intra-group balances by counterparty and reference, and propose the elimination journal in the consolidation file. Cover intra-group sales and purchases, intra-group loans and interest, intra-group dividends and unrealised profit on intra-group stock. Apply the elimination matrix the practice maintains for this group and learn any new recurring flows. If a balance does not reconcile between counterparts, ask me whether to query the entity finance teams. Pause before posting an elimination above the agreed materiality. Save a note for the practice manager listing eliminations proposed, mismatches and items awaiting clarification."
Translate FX
"Translate foreign subsidiaries for this group's consolidation in Sage 50 under FRS 102. Apply the closing rate to assets and liabilities, the average rate for the period to P&L lines, and the historical rate to equity. Compute the translation difference and post it to the foreign currency translation reserve. For hyperinflationary economies, apply the FRS 102 Section 31 adjustments where relevant. If a rate source has changed or the average rate calculation needs the practice's policy reconfirmed, ask me before applying. Pause before locking the translation. Save the translation working paper to Google Drive ready for senior review and the audit working papers."
Apply minority
"Apply minority interest and goodwill for this group's consolidation in FreeAgent. Compute minority interest from the parent's percentage holding and apply to the subsidiary's profit and equity attributable to non-controlling shareholders. For goodwill recognised at acquisition, apply the agreed amortisation under FRS 102 and run the impairment test if any indicator is present. If the impairment test surfaces an indicator, ask me whether to prepare a full impairment review or to refer to the senior. Pause before recognising any impairment. Save a note for the practice manager listing minority interest computed, goodwill amortised, impairment indicators and items awaiting senior decision before the consolidated trial balance locks."
Group consolidation run by AI Agents
Intercompany matching, FX retrans, eliminations and consolidated trial balances stop landing on the senior month after month. The AI Agents repeat the group close across every entity, which is where the up to 80% lower cost to serve per group comes from, with partner review kept on judgement.
Consolidation that learns each group's elimination matrix
Intra-group eliminations are mostly recurring: intra-group sales, intra-group loans, intra-group dividends and unrealised profit on intra-group stock. Minded learns each group's matrix and applies it consistently across periods. The senior reviews any new flow before it enters the matrix. Tie this to intercompany reconciliation with AI so the matching motion and the consolidation share one source of truth.
One consolidation flow across Xero, QuickBooks, Sage 50 and FreeAgent
A real mid-market group has entities on Xero, QuickBooks, Sage 50 and FreeAgent at the same time. The same map, eliminate, translate and apply-minority motion runs across mixed ledgers. See month-end close with AI and statutory reporting with AI for adjacent close and reporting work.
How is this different from OneStream, Tagetik or Workiva?
OneStream, Tagetik and Workiva are enterprise CPM platforms with long implementations and significant ongoing cost. Minded sits at the practice level for mid-market group clients, running the same consolidation motion (eliminations, FX, minority, goodwill) without forcing a CPM rollout for every group client.
How does the agent handle intra-group eliminations across mixed ledgers?
The agent reads each entity's trial balance from its own ledger, identifies intra-group balances by counterparty and reference, and proposes the elimination journal in the consolidation file. The elimination matrix is maintained per group and improves each period as the agent learns recurring intra-group flows.
What about FX translation under FRS 102?
Foreign subsidiaries are translated under FRS 102: assets and liabilities at the closing rate, P&L at the average rate for the period and equity at the historical rate. Translation differences are posted to the foreign currency translation reserve. The agent prepares the translation working paper for senior review.
Does the agent compute minority interest and goodwill?
Yes. Minority interest is computed from the parent's percentage holding and applied to the subsidiary's profit and equity. Goodwill is recognised at acquisition, tested for impairment under FRS 102 and amortised on the agreed useful life unless an indefinite life is supported.
Can the agent produce both management and statutory consolidation packs?
Yes. The management consolidation pack runs monthly or quarterly for the group board, with commentary, KPIs and variance. The statutory consolidation pack at year end ties to the FRS 102 statutory accounts, with the supporting notes and the audit working papers prepared for the external auditor.