How to Consolidate a Group of Companies in Wafeq | Advanced Consolidation

Run several companies on Wafeq? This walkthrough shows how Advanced Consolidation turns their separate books into one set of group financial statements by eliminating what happened inside the group, and how to explain anything that doesn't match. You'll learn how to: • Set up a group, its members and ownership (including an 80% subsidiary with non-controlling interest) • Link intercompany contacts and create elimination rules for transactions, investments, balances, and revenue and expenses • Close each month: run eliminations, review differences, post and lock • Read the consolidated P&L, preview draft eliminations, and audit everything in the eliminations ledger The example uses Al Rimal Group, a demo group with sample data: a holding company in Riyadh with trading, logistics and retail subsidiaries in SAR and AED. Advanced Consolidation is available on the Enterprise plan. Chapters 0:00 Why consolidate 0:15 How consolidation works 0:53 Your group and members 1:23 Intercompany contacts 1:40 Elimination rules 2:36 The monthly close 3:24 Reconciling differences 4:22 Elimination journals 4:43 Post and lock 4:54 Consolidated reports 5:30 Eliminations ledger 5:41 Recap Learn more at https://www.wafeq.com #Wafeq #Accounting #Consolidation