Both can consolidate your US group's MYOB subsidiaries. One does it same-day with a US GAAP-compliant audit trail. The other takes five days, leaves IRS Section 482 documentation incomplete, and breaks every time the AUD/USD rate moves.
Excel is a powerful tool. But it was not designed for recurring group consolidation across multiple MYOB companies, and the gap shows in predictable ways.
A hardcoded value in the wrong cell, a SUM range that doesn't include a new row, a VLOOKUP that returns zero instead of throwing an error — Excel errors propagate silently through the consolidated statements and are often not caught until an auditor or CFO spots an anomaly.
When more than one person works on the consolidation — or when it's emailed between team members — version conflicts become inevitable. Consolidation_FINAL.xlsx, Consolidation_FINAL_v2.xlsx, Consolidation_FINAL_APPROVED.xlsx — the board may have received an earlier version.
Identifying all intercompany transactions across four or more MYOB companies requires manually cross-referencing every entity's transactions each period. A new intercompany arrangement — a management fee, a loan advance — is easily missed until it shows up in an audit query.
Every group consolidation involves judgement calls — FX rates chosen, elimination amounts adjusted, manual journal entries applied. In Excel, none of these leave a traceable record unless someone manually documents them. Auditors are increasingly unwilling to rely on Excel workpapers without extensive accompanying documentation.
IFRS (IAS 21) and US GAAP (ASC 830) require closing rates for balance sheet items and average rates for P&L items. In Excel, applying this correctly across multiple currencies and multiple periods requires formulas that are easy to misconfigure and hard to audit — particularly when exchange rate tables are maintained manually.
The hidden cost of Excel consolidation is time. The full cycle of export, remap, translate, eliminate, and assemble takes 3–5 working days per month for a typical MYOB group with 3–6 entities. That time is spent by senior finance staff who should be analysing the numbers, not assembling them.
A direct comparison across every dimension that matters for MYOB group consolidation.
| Capability | Excel | BrizoConsol |
|---|---|---|
| Direct connection to MYOB (no export needed) | Manual export | OAuth API |
| Automatic data refresh from MYOB | Manual each period | Nightly sync |
| AI-assisted account mapping | Manual VLOOKUP tables | AI Auto-Map |
| Automatic intercompany detection | Manual cross-reference | Auto-detected |
| Automatic intercompany elimination | ⚠ Manual journal entries | Automated |
| Mismatch alerts for unreconciled intercompany | Not available | Pre-close alerts |
| Multi-currency translation (closing + average rates) | ⚠ Manual formulas — error-prone | Auto per IFRS/GAAP |
| Currency translation adjustment (CTA/FCTR) | ⚠ Manual calculation | Auto-calculated |
| Non-controlling interest (NCI) | ⚠ Manual calculation | Auto per ownership % |
| Audit trail on all adjustments | No native trail | Full, permanent trail |
| Multi-user access with role controls | ⚠ File sharing only | Role-based access |
| Version control | File naming conventions | System-managed versions |
| Consolidated P&L, Balance Sheet, Cash Flow | Manual assembly | Auto-produced |
| Entity variance analysis vs prior period | ⚠ Manual pivot tables | Built-in dashboards |
| Support for non-MYOB entities (Xero, QBO, MYOB) | Manual — separate exports | Native integrations |
| Virtual Groups for management reporting | Separate spreadsheets | Built-in |
| IFRS / US GAAP / UK GAAP tagged output | Not available | Per-entry standard tags |
| Time to first consolidated report per period | 3–5 days | Same day |
The direct cost of Excel is zero. The true cost — in finance team time, error correction, and extended audits — is substantially higher. Here is a realistic annual cost comparison for a 4-entity MYOB group.
Switching doesn't require a migration project. BrizoConsol reads from MYOB directly — there's no data to move. Most groups have their first BrizoConsol-produced consolidation within the same day they connect.
Authorise each MYOB company via OAuth. BrizoConsol initiates an immediate data sync — all GL history available from the first connection.
~5 min per entityAI Auto-Map reads your chart of accounts and suggests mappings. Review the suggestions and adjust where needed — your Excel mapping table is a good reference here.
~20–30 min totalRun BrizoConsol's first consolidation and compare the output to your existing Excel model for the same period. Most teams spend 1–2 hours on this validation step before going live.
~1–2 hrsOnce validated, BrizoConsol becomes your source of truth for group consolidation. Your Excel model can be kept as a historical archive — you just don't need to update it every month anymore.
Same dayMYOB is the dominant accounting platform for Australian and New Zealand businesses. Groups headquartered in Australia or New Zealand — with entities spanning AUD, NZD, and other regional currencies — are BrizoConsol's core MYOB user base. Whether you're a private equity-backed portfolio, an ASX-listed group, or a family-owned multi-entity business, BrizoConsol fits the way AU/NZ groups actually operate.
Australian groups typically operate as a Pty Ltd holding company owning one or more Pty Ltd or Ltd operating subsidiaries — often with a New Zealand arm and, increasingly, a Singapore or UK entity. BrizoConsol consolidates all entities under AASB 10, applying FCTR per AASB 121 and NCI where ownership is less than 100%.
Many Australian groups use a combination of MYOB AccountRight (for the main holding entity) and MYOB Business (for smaller subsidiaries). BrizoConsol connects to both MYOB products and consolidates them in a single run — no need to export and reconcile between products.
AU/NZ groups are a natural fit for multi-currency consolidation. BrizoConsol translates NZD entities into AUD under AASB 121 — applying closing rates to Balance Sheet items and average rates to P&L — and calculates the FCTR automatically. No separate currency workbook needed.
Australian groups that grew through acquisition often end up with some entities on MYOB and others on Xero or QuickBooks. BrizoConsol consolidates across all platforms in one run — every entity is treated equally regardless of which accounting system it uses.
US groups preparing consolidated financial statements under US GAAP must comply with ASC 810 Consolidation, with foreign currency translation governed by ASC 830 Foreign Currency Matters. BrizoConsol automates ASC 810-compliant consolidation for US groups using MYOB, including NCI attribution under ASC 810-10-45 and CTA calculation under ASC 830 included in Other Comprehensive Income (OCI).
ASC 810 requires a US parent entity to consolidate all subsidiaries it controls through a majority voting interest or through variable interest entity (VIE) relationships. NCI (non-controlling interest) is presented separately within equity under ASC 810-10-45. BrizoConsol applies ASC 810-compliant logic — including full intercompany elimination and NCI attribution — across all connected MYOB entities automatically.
US groups with foreign subsidiaries apply ASC 830 Foreign Currency Matters. BrizoConsol applies the current rate method — closing rates to Balance Sheet items, weighted average rates to P&L — and calculates the Cumulative Translation Adjustment (CTA). The CTA is included in Other Comprehensive Income (OCI) in the consolidated Balance Sheet, consistent with ASC 220 and ASC 830 requirements.
US public companies filing with the SEC under Regulation S-X must present consolidated financial statements audited by a PCAOB-registered firm. BrizoConsol produces audit-ready consolidated output — with full elimination audit trails and period-by-period CTA schedules — that can be handed directly to your external auditors. All adjustments are traceable to the originating MYOB entity and transaction.
US-based groups typically operate subsidiaries in Canada (CAD), the UK (GBP), Australia (AUD), India (INR), and the UAE (AED) — each requiring USD translation under ASC 830. Many use MYOB in their US entities and Xero, MYOB, or other platforms overseas. BrizoConsol consolidates all of these currencies in a single run, applying ASC 830-compliant rates automatically.