Intercompany reconciliation
Compare the agreed entity-level reports and return a list of mismatches with the supporting transaction detail.
For New York CPA and accounting firms
Multi-Entity Accounting Support for New York CPA Firms
Defined multi-entity accounting production support for New York CPA firms. Prepare reconciliations, intercompany schedules and supporting records within the firm’s existing review process.
New York practice workflow
Make multi-entity work easier to trace
New York multi-entity accounting support for CPA firms depends on consistent entity records, intercompany schedules and reconciliations that tie to source reports. A client group with several entities can generate duplicate vendors, inconsistent account mappings, intercompany balances that do not agree and schedules stored in different places. Before a reviewer can evaluate the group, the firm may have to establish which entity owns each transaction and which source report supports each balance. A repeatable preparation process can reduce that reconstruction by keeping entity and period details visible.
Accounstone can prepare agreed recurring bookkeeping, account reconciliations, intercompany listings and supporting schedules using the firm’s chart of accounts, naming conventions and review notes. The firm retains consolidation policy, tax positions, allocation decisions, client advice and final sign-off. New York-specific elections and local filing issues must be evaluated by the responsible professional; they should not be inferred from accounting records alone.
New York workflow 1
Establish entity-level records before group reporting
The initial scope should identify every entity and accounting period, the systems used, bank and credit-card accounts, intercompany accounts, approved account mapping and the reports expected at close. Confirm whether the task is entity-level bookkeeping, a supporting schedule or a defined part of the group close. These are related workflows, but they are not interchangeable and should have separate acceptance criteria.
When intercompany balances do not match, document both sides, the period, the source records and the next action. Do not create a balancing entry merely to make the schedule agree. The firm or client must resolve the underlying transaction or approve the adjustment through its normal control process.
Consistent close schedules
Use a shared format while preserving entity-specific account detail and reviewer comments.
New York workflow 2
Keep New York tax-related records ready for review
New York State provides a pass-through entity tax election process, and New York City has a separate optional PTET for eligible entities. Whether an entity is eligible, whether an election has been authorized and how a payment or credit affects a return are tax decisions. A preparation workflow can retain the entity information, payment records and prior-year schedules the CPA requests, but must not make or attest to an election.
For clients with operations in New York City or more than one jurisdiction, the firm may need source data that is not obvious from a single general ledger. Preserve the reports and location detail supplied by the client, label their period and source, and record missing information. The reviewer should be able to distinguish a complete supporting schedule from a question that still needs professional analysis.
Election evidence
Organize documents and payment confirmations supplied by the firm; only an authorized person makes or attests to an election.
Entity and location detail
Keep source reports linked to the relevant entity and period so the firm can assess what is applicable.
New York workflow 3
Agree the reviewer handoff before expanding the scope
A useful group close package identifies what is complete, what is unreconciled, what source record is missing and who must resolve each item. Keep the trial balance, reconciliations, intercompany schedules and open-item list together so the reviewer can trace the work without searching email. If the firm has a standard workpaper template, use that rather than introducing a competing format.
Start with one entity pair or one reporting cycle and evaluate the output. Review whether the balances tie, whether supporting documents are accessible, whether exceptions were escalated and how much rework remained. Expand only when the workflow is repeatable and the responsible firm reviewer is satisfied with the handoff.
Defined first scope
One month of intercompany and bank reconciliations for a selected entity group.
Review control
The CPA firm approves proposed adjustments and retains all consolidation, tax and reporting judgments.
Before the first file moves
Define the scope and reviewer handoff
A first engagement should be specific enough to evaluate. Agree the files, period, software, expected output, reviewer and exception process before recurring work begins.
- List the entities, systems, periods and intercompany accounts in scope.
- Provide the approved mapping, close checklist and accepted sample schedule.
- Agree how mismatches, proposed entries and missing reports are escalated.
- Review traceability and rework before adding more entities or consolidation tasks.
Related CPA-firm support
This page covers one workflow. Use the state overview for broader accounting support and the national service pages for the general scope of bookkeeping, accounting and tax preparation.
Scope and review
Questions from New York CPA firms
How can a CPA firm organize accounting across multiple entities?
Start with an entity-and-period register, consistent account mapping, entity-level bank and balance-sheet reconciliations, due-to and due-from schedules, and a documented process for mismatches. The CPA firm sets consolidation policy and approves any adjustments that require judgment.
Will Accounstone make a New York PTET election?
No. The service can organize records and payment evidence requested by the firm. Election eligibility and authorization remain with the responsible professional and authorized client personnel.
How should a firm test multi-entity support?
Start with a selected entity group and one reporting cycle, then assess tie-outs, source traceability, exception handling and reviewer rework before expanding.
What records support multi-entity close work?
Common inputs include entity trial balances, bank statements, intercompany ledgers, loan schedules, prior reconciliations and the close checklist.
Can intercompany balances be reconciled across entities?
Schedules can compare due-to and due-from balances, identify timing differences and list unmatched transactions for review.
Can reporting remain separate by legal entity?
The workflow can preserve entity-level books and schedules while preparing agreed summary or consolidation inputs.
How are different close calendars handled?
Each entity's close dates, required inputs, dependencies and reviewer are recorded; blocked items are tracked clearly.
Can you work with our consolidation template?
Where the firm supplies its template and mapping conventions, schedules can be prepared in that format and unmapped balances flagged.
What happens when one entity's records are incomplete?
The affected balance is listed as an open item with the missing source record or decision identified.
Who approves consolidation adjustments and tax elections?
The responsible CPA or client-side professional retains approval of consolidation adjustments, accounting judgments, elections and filing decisions.
Free consultation
Discuss a defined workflow for your New York practice
Defined multi-entity accounting production support for New York CPA firms. Prepare reconciliations, intercompany schedules and supporting records within the firm’s existing review process.
- Start with one client or one month of close work
- We prepare; your firm reviews, signs and e-files
- No EFIN, no banking control, no client-facing contact without your say-so
Discuss New York CPA-firm support
Start with a defined workflow, clear review points and a scope that fits your existing process.