Management Accounts
Review subsidiary and group Management Accounts
Some parent companies need Management Accounts for businesses that do not use WiseWage payroll. WiseWage supports that by letting the parent company manage separate books for each subsidiary or related business before group review.
View screen examples (1)
Entity-level review first
- 1
Create each related business under Settings > Business structure.
- 2
Maintain a separate COA for each business where needed.
- 3
Upload and post source files for one business and period at a time.
- 4
Generate and review each business's backup workbook, Excel report pack, PowerPoint pack, and Executive Email Summary Draft.
- 5
Approve each business period only after the entity-level reports are correct.
Group review
Group Management Accounts should combine reviewed entity-level records rather than mixing subsidiaries inside one source workbook. If subsidiaries report in another currency, save the period FX rates before generating the parent/group pack.
- 1
Confirm all subsidiaries for the period have been reviewed.
- 2
Check that each business is using the expected period.
- 3
Confirm FX rates exist for subsidiaries reporting outside the group currency.
- 4
Review group totals against entity-level outputs.
- 5
Review the Entity_Contribution sheet to see each subsidiary's contribution to revenue, profit, balance sheet, cash, receivables, payables, and VAT.
- 6
Review the FX_Conversion sheet to trace source-currency amounts into the group currency.
- 7
Keep entity-level backup workbooks with the group pack for audit support.
Common mistakes
- 1
Do not upload multiple subsidiaries into the wrong selected entity.
- 2
Do not approve group reporting before entity reports are reviewed.
- 3
Do not confuse the Super Admin company switcher with the Business / entity switcher.
The first changes the client workspace; the second changes the books within a multi-entity company.
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