What is the purpose of Consolidation in OneStream?

The purpose of Consolidation in OneStream is to aggregate financial data from multiple entities. This process is essential for organizations that operate with multiple subsidiaries or business units, allowing them to compile and manage their financial information in a cohesive manner. Through consolidation, OneStream enables users to roll up financial data, ensuring that the overall financial position of the organization is accurately represented. This aggregation includes balancing intercompany transactions, eliminating duplicates, and applying consistent accounting standards across different entities.

By consolidating financial data, OneStream provides a comprehensive view of the organization’s financial health, which is invaluable for internal decision-making as well as external reporting. This functionality supports compliance with accounting standards and aids in the development of accurate, consolidated financial statements that reflect the true performance of the entire organization.