Intercompany reconciliation

Roles that need it

• Group Reporting Accountant
• General Accountant
• Accounts Assistant / Bookkeeper
• Reconciliations Analyst
• Finance Transformation Consultant

Skills it belongs to

• Period-end close and reconciliations
• Group consolidation
• Attention to detail

Related concepts

• Consolidation (group accounts)Consolidation combines the financial statements of a parent and the entities it controls into one set of group accounts, as if they were a single economic entity. Intercompany balances and transactions are eliminated, and non-controlling interests are shown separately. IFRS 10 defines control.
• Account reconciliation (balance sheet reconciliation)Account reconciliation compares a ledger balance with independent evidence, such as a bank statement, a sub-ledger or a counterparty confirmation, and explains every difference. Reviewed and signed-off reconciliations are a common key control.
• Month-end close (period-end close)The month-end close is the set of accounting tasks that finalise the books for a period: cut-off, sub-ledger closing, accruals, revaluations, reconciliations, intercompany matching, review of journals and reporting. It runs to a working-day calendar, and the year-end close adds audit and statutory work.

Sources

• IFRS 10 Consolidated Financial Statements, IFRS Foundation (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.