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MYOB Month-End Consolidation · Australia

MYOB Month-End Consolidation
for Australian Groups

Australian groups on MYOB AccountRight and MYOB Business face a June year-end and ASIC filing deadlines under the Corporations Act 2001. BrizoConsol closes your group consolidation the same day your entities close — whether it's month-end or the critical June close.

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Before and After

What Month-End Actually Looks Like — and What It Should Look Like

Here is a realistic picture of the month-end close for a four-entity MYOB group, with and without BrizoConsol.

For Australian groups, the June close is the most demanding month-end of the year — MYOB company files must close, BAS must be lodged, and ASIC reporting obligations must be met. BrizoConsol automates the consolidation so your finance team can focus on the regulatory deadlines, not the spreadsheet.

Manual consolidation — 4-entity MYOB group
Day 1
Open each MYOB company file and confirm final entries are posted. AccountRight users open each file from the MYOB hub; MYOB Business users log into each business account. Confirm bank reconciliations and period postings are complete in each file before proceeding.
1–2 hrs
Day 1–2
Export a Trial Balance from each company file. AccountRight exports as tab-delimited; MYOB Business as CSV — different column structures mean you must manually reformat each export before you can map them to a common structure.
3–4 hrs
Day 2
Map each entity's accounts to the group reporting structure. Rebuild the mapping for any new accounts added during the period.
2–3 hrs
Day 2–3
Look up FX rates. Apply closing rates to balance sheet items, average rates to P&L. Build currency translation adjustment calculation.
3–4 hrs
Day 3–4
Cross-reference intercompany transactions. Build elimination journals. Reconcile both sides. Investigate mismatches.
4–6 hrs
Day 4–5
Assemble group P&L and Balance Sheet in Excel. Sum columns. Fix broken formulas. Check that everything balances. Format for board distribution.
4–6 hrs
Total time per month4–5 days
With BrizoConsol — same 4-entity group
Day 1
Each entity closes in MYOB (AccountRight or Business). BrizoConsol syncs updated general ledger data automatically via the overnight sync — or manually triggered after close.
Auto
Day 1
BrizoConsol applies account mappings configured once at setup. New accounts trigger an alert for review — no full remap needed each period.
Auto
Day 1
Currency translation runs automatically using current exchange rates. Closing rates applied to Balance Sheet, average rates to P&L. CTA calculated.
Auto
Day 1
Intercompany eliminations detected and applied. Mismatch alerts raised for any unreconciled intercompany balances — finance team reviews only the exceptions.
~15 min review
Day 1
Finance team reviews the preliminary group P&L, Balance Sheet, and Cash Flow. Posts any manual journal adjustments required. Approves the close.
1–2 hrs
Day 1
Group reports exported or auto-distributed to board and stakeholders. Entity-level breakdowns, dashboards, and variance reports all available immediately.
Auto
Total time per monthSame day
The Consolidation Process

What the Group Month-End Close Involves — and What BrizoConsol Handles

Group consolidation has three phases: entity close, group processing, and reporting. BrizoConsol automates the processing phase entirely, and accelerates the other two.

Phase 1 — Entity Close
Entities post final journal entries in MYOB
Done by each entity controller in MYOB (AccountRight or Business)
Bank reconciliations completed per entity
MYOB bank reconciliation (AccountRight or Business)
Accruals and prepayments posted
Entity-level — done in MYOB AccountRight or MYOB Business
A
BrizoConsol confirms sync is complete for each entity
BrizoConsol close status dashboard
Phase 2 — Group Processing
A
Account mapping applied to all entities
Auto — configured once, runs every period
A
Foreign currency translation calculated
Auto — closing + average rates applied
A
Intercompany transactions detected and eliminated
Auto — mismatches flagged for review
A
Non-controlling interest calculated
Auto — based on configured ownership %
Group-level journals and adjustments reviewed
Finance team reviews exceptions and posts adjustments
Phase 3 — Group Reporting
A
Consolidated P&L produced
Auto — available immediately after close
A
Consolidated Balance Sheet produced
Auto — fully eliminated and balanced
A
Consolidated Cash Flow produced
Auto — intercompany cash flows removed
A
Group dashboards and KPIs updated
Auto — live dashboard refreshes after sync
Reports reviewed and distributed to board
Finance team review — then share or export
Auto — handled by BrizoConsol
Manual — finance team action
Group Reporting Outputs

What's Ready When Your Group Closes

Every consolidation run produces a complete reporting package — ready to share with the board, auditors, or investors the same day entities close.

Consolidated P&L

Group revenue, gross profit, EBITDA, and net profit across all entities. Intercompany revenue and cost eliminated. Entity-level breakdown available on drill-down.

Available same day

Consolidated Balance Sheet

Fully balanced, intercompany receivables and payables eliminated, investment in subsidiaries eliminated, CTA in equity, NCI disclosed separately.

Available same day

Consolidated Cash Flow

Group liquidity view with intercompany cash transfers stripped out. Operating, investing, and financing activities across all entities.

Available same day

Intercompany Elimination Report

Full record of every elimination applied — auto and manual. Categorised by type, amount, entity pair, and basis. Ready for auditor review.

Available same day

Entity Variance Analysis

Side-by-side entity performance for the period — revenue, margin, and expense variance vs prior period and budget. Identifies which entities drove group performance.

Available same day

Group Dashboard & Pulse

Live KPI dashboard updated with the latest consolidated data. Pulse health scores across cash flow, AR, margin, and operational metrics at group and entity level.

Available same day
Frequently Asked Questions

MYOB Month-End Consolidation — Questions Answered

The month-end consolidation process for an MYOB group involves confirming all entities have closed their books, extracting and mapping general ledger data from each MYOB company, applying currency translation for foreign entities, eliminating intercompany transactions between entities, and producing a consolidated P&L, Balance Sheet, and Cash Flow. Without automation, each of these steps requires manual effort — exporting from each MYOB company, reconciling account structures, calculating FX, and assembling consolidated statements in a spreadsheet. With BrizoConsol, all of this runs automatically once entities close.
With BrizoConsol, the group consolidation runs automatically as entities close — reports are typically available within hours of the last entity confirming close, on the same day. The finance team's time is spent on review and approval rather than data assembly. Without a consolidation tool, most MYOB groups report spending 3–5 days per month on manual consolidation work before group reports are ready.
BrizoConsol automates: syncing general ledger data from all connected MYOB companies, applying account mappings to translate entity accounts into the group reporting structure, currency translation including CTA calculation, intercompany elimination with automatic detection and mismatch flagging, NCI calculation based on configured ownership percentages, and the production of consolidated P&L, Balance Sheet, Cash Flow, and supporting reports. What remains for the finance team is exception review, manual adjustment posting (where required), and final sign-off — not data assembly.
Yes. BrizoConsol can produce a preliminary group view at any point using whatever data is available from connected MYOB companies. This is useful for tracking close progress — seeing which entities have updated their data and which are still pending — and for an early read on group performance before the final close. The official consolidated statements are produced once all entities have confirmed close and the finance team has signed off on any adjustments.
After close, BrizoConsol makes available: consolidated P&L, consolidated Balance Sheet, consolidated Cash Flow Statement, intercompany elimination report with full audit trail, entity-by-entity variance analysis vs prior period, group dashboard with live KPIs, and Pulse health scores across cash flow, AR, margin, and risk signals. All reports are available for export to PDF or Excel, and can be scheduled for automatic delivery to stakeholders.
Entity-level reporting in MYOB shows the financials of a single organisation — revenue, costs, assets, and liabilities as that entity has recorded them. Group reporting goes further: it combines all entities, eliminates transactions between them, translates different currencies into a single reporting currency, and applies NCI adjustments — producing a view of the economic group as a whole that neither overstates revenue nor double-counts balances. Entity reports are appropriate for subsidiary-level management and compliance; group reports are what boards, investors, and auditors need.
Who Uses MYOB Group Consolidation

Built for Australian and New Zealand Multi-Entity Groups

MYOB 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 Holding Structures

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%.

MYOB AccountRight + MYOB Business Groups

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.

Trans-Tasman Groups (AUD + NZD)

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.

Mixed Platforms (MYOB + Xero)

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.

Australian Regulatory Context

AASB 10 Consolidation Requirements for Australian Groups Using MYOB

Australian groups preparing consolidated financial statements must comply with AASB 10 Consolidated Financial Statements — the Australian equivalent of IFRS 10 — alongside ASIC reporting obligations under the Corporations Act 2001. BrizoConsol automates AASB 10-compliant consolidation for groups using MYOB, including intercompany eliminations, FCTR calculation under AASB 121, and NCI attribution.

AASB 10 — Consolidated Financial Statements

AASB 10 requires an Australian parent entity to present consolidated financial statements combining its own financials with those of all controlled subsidiaries. BrizoConsol applies AASB 10-compliant consolidation logic — including full intercompany elimination and NCI calculation — automatically each period your MYOB companies close.

AASB 121 — Foreign Currency Translation (FCTR)

When an Australian group has foreign subsidiaries — in New Zealand, Singapore, the UK, or elsewhere — AASB 121 governs how those entities' financials are translated. BrizoConsol applies closing rates to Balance Sheet items and average rates to P&L items, and calculates the Foreign Currency Translation Reserve (FCTR) automatically.

ASIC and the Corporations Act 2001

Australian public companies and large proprietary companies must lodge consolidated financial statements with ASIC under Chapter 2M of the Corporations Act 2001. BrizoConsol produces audit-ready consolidated statements — with a full elimination audit trail — that can be handed directly to your auditors for ASIC lodgement.

Typical Australian Group Structure

Australian groups typically include AUD-based Australian entities, NZD-based New Zealand subsidiaries, and operations in Singapore, the UK, or the UAE. Many use MYOB in Australia alongside other platforms in overseas entities. BrizoConsol consolidates across MYOB and all connected platforms in a single run — AUD, NZD, SGD, GBP, and more.

Australia-Specific Questions

Common Questions from Australian Groups Using MYOB

Yes. BrizoConsol applies AASB 10-compliant consolidation logic for Australian groups using MYOB. This includes full intercompany elimination across all connected entities, non-controlling interest (NCI) calculation per AASB 127 and AASB 10, and foreign currency translation under AASB 121. The consolidated output — P&L, Balance Sheet, and Cash Flow — is audit-ready and can be submitted directly to your external auditors for ASIC lodgement.
Yes. Australian groups frequently use MYOB in their domestic entities and Xero, MYOB, or QuickBooks in their New Zealand or overseas operations. BrizoConsol connects to each platform independently and consolidates all entities into one group view — regardless of which accounting system each entity uses. Currency translation for NZD, SGD, GBP, and other currencies is applied automatically under AASB 121.
BrizoConsol calculates the FCTR automatically in compliance with AASB 121. For each foreign subsidiary, Balance Sheet items are translated at the closing rate and P&L items at the average rate for the period. The resulting translation difference — the FCTR — is included in the consolidated Balance Sheet under equity. The FCTR movement is broken out period by period, consistent with AASB 101 presentation requirements.

Related guides

Group Consolidation Financial Consolidation Intercompany Elimination Excel vs BrizoConsol

Your Next Month-End Close Doesn't Have to Take Five Days.

Connect your MYOB group and close the same day your entities do — automatically.

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