Before you begin, make sure you:
Check all legal entities are properly configured in GATHER.nexus
Verify that your Xero or QuickBooks integrations are syncing balance sheet data
Confirm you have appropriate permissions to access Consolidated Reporting
Check that your Chart of Accounts mapping is complete and accurate
Have your preferred Group Reporting Currency and Reporting Periods
Navigating to the Reports section
From your GATHER.nexus dashboard, navigate to the Group Financial Reporting module. Click on the Reports tab to access the reporting centre where you'll create your consolidated balance sheet.
Step 1: Initiate Balance Sheet Report creation
(Reports overview page with "Add Report" button highlighted)
In the Reports section, locate the green Add Report button in the top right corner of your screen. Click this button to begin creating your new balance sheet report.
💡Tip: Balance sheets are point-in-time reports, so choose your reporting period properly to align with month-end, quarter-end, or year-end requirements.
Step 2: Configure your Report fundamentals
The Report setup modal will appear with several configuration options:
Report Name: Enter a descriptive identifier such as "Year-End Balance Sheet 2025" or "Monthly Balance Sheet - March 2025". This helps distinguish between different reporting periods and purposes.
Group: Select your Group of companies from the dropdown.
GRT (Group Reporting Template): Choose the balance sheet template that matches your industry and reporting requirements. This controls the structure and presentation of your final report.
Step 3: Set your reporting parameters
Year: Select the financial year for your balance sheet (e.g. 2025). This sets the context for your reporting period.
Report Frequency: Choose the appropriate frequency for your balance sheet reporting:
Monthly (eg. for internal management reporting and cash flow monitoring)
Quarterly (eg. for board reporting and regulatory submissions)
Annually (eg. for year-end statutory accounts and )
Report Period: Select the specific period end date for your balance sheet. Remember, balance sheets show your financial position at a specific point in time.
Step 4: Configure currency settings
Currency: Select your Report Presentation Currency from the dropdown menu (e.g., "USD - United States Dollar").
ℹ️Info: For balance sheet items, the Platform converts from the Group Reporting Currency to the Report Presentation Currency at the closing rate for the Period.
Step 5: Generate your Balance Sheet Report
(Completed balance sheet configuration with "Add" button highlighted)
Review all your settings to ensure accuracy, then click the green Add button to create your Balance Sheet Report.
Accessing your Balance Sheet Report
(Reports list showing newly created balance sheet)
Once created, your Balance Sheet Report will appear in the Reports list. You'll see the report name, year, frequency, and currency settings displayed in table format.
Step 6: View your consolidated balance sheet
(Reports list with "Preview" button highlighted for balance sheet)
Click the Preview button next to your Balance Sheet Report.
Understanding your balance sheet structure
(Full balance sheet report showing assets, liabilities, and equity sections)
Your Consolidated Balance Sheet Report presents your group's financial position with the following key sections:
Report Header: Displays your Group name, Balance Sheet date, Report Presentation Currency, and other essential identifiers. You'll notice completion status indicators - periods with green tick marks indicate that consolidation has been completed in Working Papers, whilst periods without ticks require additional review.
Currency Display: The USD($) in Actual indicator at the top left confirms you're viewing all balances in US Dollars using actual exchange rates.
Assets Section:
Current Assets: For example - Cash and equivalents, accounts receivable, inventory, prepaid expenses
Non-Current Assets: For example - Property, plant & equipment, intangible assets, long-term investments
Total Assets: Automatically calculated sum of all asset categories
Liabilities Section:
Current Liabilities: For example - Accounts payable, short-term debt, accrued expenses, deferred revenue
Non-Current Liabilities: For example - Long-term debt, pension obligations, deferred tax liabilities
Total Liabilities: Automatically calculated sum of all liability categories
Equity Section - for example:
Share Capital
Retained Earnings
Other Equity:
Total Equity: Automatically calculated sum of all equity categories
Balance Verification: The fundamental accounting equation (Assets = Liabilities + Equity).
Drill-Down Capability: Click directly on any Balance Sheet line item to drill down and see the individual transactions and balances that comprise that figure. This transparency allows you to trace every balance back to its source across your legal entities.
Advanced Balance Sheet Report Management
Editing your balance sheet settings
(Edit button (pencil icon) highlighted for balance sheet)
To modify your balance sheet parameters, click the Edit button (pencil icon) in the Actions column. This allows you to adjust Balance Sheet dates, currency settings, or entity inclusions without starting from scratch.
Creating comparative balance sheets
(Duplicate button creating comparative period balance sheet)
Use the Duplicate button to create balance sheets for different periods. This is particularly useful for preparing comparative financial statements showing period-over-period changes in financial position.
Deleting Balance Sheet Reports
(Delete button for outdated balance sheet)
When balance sheets are no longer needed for current reporting, use the Delete button to remove them from your active reports list while maintaining data integrity.
❗Important: Consider your audit trail requirements before deleting historical balance sheets, as auditors may need access to prior period reports.
Balance sheet analysis and export options
Customize your Balance sheet
Click the Settings icon (gear symbol) in the balance sheet toolbar to access the Customize Report panel. This comprehensive feature allows you to:
(Settings/gear icon in balance sheet toolbar)
Amend Report Period: Modify the reporting dates or add comparative periods to your current Balance Sheet Report for period-over-period analysis.
Group Class Filtering: Focus your balance sheet analysis on specific Group Classes to understand particular operational areas.
Journal Controls:
Show journals: Show consolidation Journal entries and adjustments in your Report
Do not apply journals: View the pre-adjustment financial data from your Xero/QuickBooks entities in your Report
Show Intercompany Account: Include intercompany line items separately in your Report for review and transparency
Entity Selection: Choose which individual legal entities to include alongside your consolidated view. This is particularly valuable for comparing individual entity positions against Group totals.
Currency and Display Options: Adjust how amounts are represented and select different Report Presentation currencies according to stakeholder requirements.
Once you've configured your preferences, click Apply to refresh your balance sheet with the new settings.
Email distribution for stakeholder reporting
(Email icon and Email a Report modal for balance sheet)
Distribute your Balance Sheet Report efficiently using the Email function (envelope icon) in the balance sheet toolbar:
Multiple Recipients: Send your balance sheet to up to 10 email addresses simultaneously, perfect for board members, investors, auditors, and key stakeholders.
Format Options: Choose from three professional formats:
XLSX: Excel format for detailed analysis and ratio calculations
XLS: Compatible Excel format for legacy systems
PDF: Professional presentation format ideal for formal reporting and compliance
Personal Notes: Add context or commentary in the notes section (up to 500 characters) to explain significant balance sheet movements, highlight key ratios, or provide executive insights about financial position.
Click Send to distribute your balance sheet immediately, ensuring all stakeholders receive consistent, up-to-date financial position information.
Detailed Balance Sheet Report Analysis
GATHER.nexus provides complete balance sheet transparency through its drill-down functionality:
Account-Level Drill-Down: Click on any balance sheet line item (such as "Cash and Equivalents" or "Accounts Payable") to view the underlying balances and transactions that comprise that figure.
Entity Breakdown: See how each legal entity contributes to the consolidated balance, including any intercompany eliminations applied.
This drill-down capability helps accelerate Balance Sheet variance analysis.
Currency and exchange rate transparency
(USD($) in Actual button highlighted in balance sheet)
The USD($) in Actual indicator at the top of your balance sheet confirms that:
All balances are displayed in US Dollars
Actual closing exchange rates have been applied to foreign currency balances
Working Papers
Your balance sheet connects seamlessly with GATHER.nexus Working Papers:
Completion Status: Period indicators display green tick marks when the corresponding period has been marked as complete in Working Papers.
Quality Assurance: Periods without completion marks indicate where additional review, adjustments, or approvals may be needed before finalising your Balance Sheet Reports.
Professional export formats
(Export options in balance sheet view)
Your balance sheet can be exported in multiple formats
Currency translation reporting
(Exchange Rate management for balance sheet)
Access the Exchange Rate functionality to review translation rates used for foreign currency balances.
Balance sheet annotations
(Notes feature for balance sheet commentary)
Use the Notes feature to add important context or analysis to your Balance Sheet Reports.
Common questions
Q: Why doesn't my balance sheet balance?
A: Check for data synchronisation issues or incomplete Chart of Accounts Mapping.
Q: Can I see the detailed breakdown behind balance sheet figures?
A: Yes, click on any line item to drill down into the underlying transactions and supporting detail from individual legal entities.
Q: Can I modify the balance sheet after creation?
A: Yes, use the Edit button to change basic settings, or click the Settings icon within the balance sheet to access the Customize Report panel for advanced modifications.
Q: What does the green tick mark next to a period mean?
A: Green ticks indicate that the period-end consolidation has been completed in Working Papers, confirming that all balance sheet adjustments and reconciliations are finalised.
Q: How do I see the individual balances behind a consolidated figure?
A: Simply click on any balance sheet line item to drill down and view the underlying balances and movements that make up that amount.
Have questions or need assistance❓
Contact our support team at support@gather.nexus