UK groups with intercompany transactions between entities must eliminate them under FRS 102 Section 9 before presenting consolidated statements. BrizoConsol automates detection and elimination across all your MYOB company files — intercompany revenue, loans, management fees, and dividends.
Every transaction between entities within your group — if left unadjusted — overstates group revenue, costs, and balances. The overstatement is silent and grows with every intercompany trade.
Intercompany eliminations are not one-size-fits-all. Each transaction type involves different accounts and different elimination logic. BrizoConsol handles all of them.
When one group entity sells goods or services to another, the seller records revenue and the buyer records a cost. Both must be eliminated — group revenue is reduced by the intercompany sales figure, and the corresponding cost is removed simultaneously.
When one entity lends money to another within the group, one side shows a receivable and the other shows a payable. Both must be eliminated so the group balance sheet does not include an asset and liability that cancel each other out.
Management fees, IT charges, shared service allocations, and head office overhead recharged from a parent to subsidiaries create intercompany income in the parent and intercompany expense in the subsidiary — both must be eliminated from the group P&L.
When a subsidiary pays a dividend to its parent, the parent records dividend income. That income must be eliminated from the group P&L — the dividend is a transfer of existing group equity, not new income generated from external sources.
When one entity sells a fixed asset to another within the group, any profit on the transfer is unrealised from the group's perspective — the asset is still within the group. The gain must be eliminated and the asset restated at its original cost to the group.
The parent's cost of investment in each subsidiary is eliminated against the subsidiary's share capital and pre-acquisition reserves. This elimination establishes goodwill (or negative goodwill) at acquisition date and is a foundational step in every consolidation.
BrizoConsol's elimination engine runs automatically on every consolidation. Here is exactly what it does.
BrizoConsol pulls the general ledger from every connected MYOB company file nightly via OAuth — supporting AccountRight and MYOB Business files in the same consolidation run. All transactions — including those in intercompany accounts — are available for matching and elimination.
Runs automatically · Nightly syncBrizoConsol identifies intercompany transactions using accounts you flag as intercompany during setup, and by matching account codes that appear on both sides of an entity relationship. No manual cross-referencing of each period's transactions is needed.
Auto-detect + account-code matchingMatched intercompany pairs are eliminated automatically. Any transaction where the two sides don't reconcile — different amounts, missing counterpart — is flagged in the elimination review dashboard before the consolidation is finalised, so you can investigate and correct before the report is produced.
Mismatch alerts before finalisationEvery elimination — automatic or manual — is logged with the originating entities, account codes, amounts, and basis of elimination. The audit trail is permanent, exportable, and presented alongside the consolidated statements for reviewer sign-off.
IFRS 10 · FRS 102 · Auditor-readyUK groups with Australian or New Zealand subsidiaries using MYOB AccountRight or MYOB Business need a consolidation layer that spans GBP, AUD, and NZD. BrizoConsol consolidates MYOB entities alongside any other platform your UK and international entities use — all currencies translated under FRS 102 Section 30 automatically.
UK-headquartered groups with Australian subsidiaries on MYOB AccountRight or MYOB Business consolidate GBP and AUD in BrizoConsol. FRS 102 Section 30 AUD→GBP translation is applied automatically — closing rates for Balance Sheet, average rates for P&L — with full intercompany elimination each period.
Groups spanning the UK, Australia, and New Zealand consolidate three currencies across three time zones. BrizoConsol handles GBP, AUD, and NZD under FRS 102 Section 30, producing a single consolidated view in GBP automatically each period.
BrizoConsol supports both MYOB AccountRight and MYOB Business — UK groups can consolidate Australian entities across both MYOB product lines in a single view. Whether your Australian subsidiaries use AccountRight or MYOB Business, BrizoConsol connects to both.
UK groups with MYOB in Australian entities and Xero or QuickBooks in UK or US entities can consolidate all platforms simultaneously. BrizoConsol connects to each platform independently — the group consolidation runs across all accounting systems in one view.
UK groups preparing consolidated financial statements must comply with FRS 102 Section 9 Consolidated and Separate Financial Statements under the Companies Act 2006. Listed companies on AIM or the LSE follow IFRS 10. BrizoConsol automates FRS 102-compliant consolidation for MYOB groups across the UK — including intercompany eliminations, GBP-based currency translation under FRS 102 Section 30, and NCI attribution.
FRS 102 Section 9 requires a UK parent entity to consolidate all subsidiaries it controls under the Companies Act 2006. BrizoConsol applies FRS 102 Section 9-compliant consolidation logic — including full intercompany elimination and NCI — across all connected MYOB entities automatically each period your companies close.
UK groups with foreign subsidiaries — in the EU (EUR), Australia (AUD), the US (USD), or Asia — apply FRS 102 Section 30 for currency translation. BrizoConsol translates each foreign entity at closing rates (Balance Sheet) and average rates (P&L), calculates the translation reserve, and includes it in equity — automatically each period.
UK parent companies must file consolidated financial statements with Companies House under the Companies Act 2006. The Financial Reporting Council (FRC) sets UK accounting standards. BrizoConsol produces audit-ready consolidated statements with a full elimination audit trail, ready for your auditors and Companies House submission.
UK-headquartered groups typically span entities in the EU (EUR), Australia (AUD), the US (USD), Asia, and the Middle East — each requiring GBP translation under FRS 102 Section 30. Many use MYOB in their UK holding entity alongside other platforms regionally. BrizoConsol consolidates GBP, EUR, USD, AUD, AED, and other currencies in a single run automatically.