Managing a business with multiple locations can be a challenge, especially when operations span international borders. For example, if your company runs three outlets in the USA and two in Canada, traditional methods may fall short when it comes to consolidating financial data. In this blog, we’ll guide you through creating a consolidated balance sheet effortlessly using Zoho Analytics, even when dealing with different currencies and locations.
Why Consolidation Matters for Multi-Location Businesses?
When your outlets track finances in their local currencies—say, USD for U.S. locations and CAD for Canadian ones—unifying this data into a single currency is key. With Zoho Analytics
, you can streamline this process and gain a clear financial overview. Let’s dive into how to set up consolidated financial reports step-by-step.
Step-by-Step Guide to Consolidated Financial Reports in Zoho Analytics
Step 1: Import Data from Same-Country Organizations: Start by importing financial data from all organizations within the same country. Zoho Analytics offers a powerful multiple organization setup feature to simplify this. For a detailed walkthrough, check out the presentation linked below—it’s packed with actionable steps to get you started.
Step 2: Add Data Sources with Different Currencies: Next, integrate data from your Zoho Finance organizations operating in different countries with unique base currencies. Use the “Add Datasource” option in your workspace to bring everything together seamlessly.
Step 3: Create a Currency Conversion Table: To unify your finances, set up a currency table in Zoho Analytics that lists up-to-date conversion rates. This table acts as your foundation for converting USD, CAD, or any other currency into a single standard.
Step 4: Unify Data with Query Tables: Now, consolidate your data by creating query tables that merge the Organizations, Accounts, and Accrual Transactions tables from all locations. Don’t know where to start with queries? Zoho provides sample queries to guide you—saving time and effort.
Explore the Full Process with Our Presentation
Want a deeper dive? Our linked presentation below breaks down every step, showing you how to generate consolidated reports for multiple organizations across countries with varying currencies. It’s your ultimate resource for mastering this with Zoho Analytics!
Why Choose Zoho Analytics for Multi-Location Financial Reporting?
Whether you’re managing outlets in the USA, Canada, or beyond, Zoho Analytics simplifies multi-currency financial consolidation. By following these steps, you’ll have a unified balance sheet that reflects your business’s true financial health—no matter how spread out your operations are.
Ready to take control of your multi-location finances? Start using Zoho Analytics today and turn complex data into clear insights.