Many books. One close.
Every entity stays on its own books. Aleq rolls them into one consolidated close — without the month-end spreadsheet.
Today, consolidation is a spreadsheet someone rebuilds every month.
Pull a trial balance out of each entity's ledger. Re-key the foreign books into pounds and euros and dollars by hand. Hunt the intercompany mismatch where the US recorded $840,000 and the UK booked £661,000 at last month's rate. Build the eliminations in a tab, plug the translation difference until the group ties, and pray the formulas survived. Six entities, three currencies, one analyst, most of a week — and the consolidated number is only as good as a cell reference. This is the work Aleq does instead.
Each entity, in its own currency.
Your UK and German books stay in pounds and euros, the way the locals keep them. Aleq translates each one into your reporting currency at the rate it should use — balance sheet at the closing rate, income at the period average — and shows you the rate behind every line. Nothing is converted on a number you can't see.
Intercompany, eliminated.
When the US bills the UK for shared services, that's a receivable on one set of books and a payable on the other — real to each entity, but not to the group. Aleq matches the two sides, nets them to zero in consolidation, and leaves the standalone books untouched. You see exactly what came out and why.
The mechanics, on real rates.
Three things make a group close hard, and Aleq does all three on numbers you can see. Balance-sheet accounts translate at the May closing rate, the P&L at the period average, and the gap between them lands in CTA — not earnings. Every intercompany balance is matched two-sided and netted to zero in consolidation. And dollar-denominated balances sitting on a foreign book get revalued at period end, with the FX gain or loss posted where it belongs.
Translated at the right rate, every time.
Every translation posts as a real, balanced journal entry — the source balance, the rate, and where the difference lands. When rates move, the difference goes to cumulative translation adjustment in equity, not into earnings by accident. You can open any entry and trace the number all the way back.
Every relationship is a belief it earns.
Consolidation isn't one rule — it's a relationship between each pair of entities and each entity's mappings. TAMi — The Aleq Mind — learns them one at a time: how the US bills the UK, how the GmbH's chart maps to your consolidated one, which rate source feeds each currency. Every relationship carries its own belief, weighted by how many closes it has matched cleanly. A relationship it has run forty times runs alone; a freshly acquired entity drafts and asks first. You can open any belief, see how sure it is, and switch it off.
What controllers ask first.
Yes. Aleq is an AI accounting platform that acts as the consolidation system of record for multi-entity groups. Each entity keeps its own books in its own currency; Aleq translates them to your reporting currency under ASC 830 — closing rate for the balance sheet, average for the P&L, the difference to CTA in equity — matches and eliminates intercompany balances two-sided, revalues monetary balances at period end, and posts every step as a balanced, traceable journal entry. It runs alongside an incumbent ERP like NetSuite or QuickBooks while you cut entities over on your timeline. It is live in 48 hours.
Consolidate your group with Aleq.
Bring in the entities Aleq runs and watch a real month consolidate — each one translated at the rate you can see, intercompany eliminated, the group tied out and in balance.