Consolidate mainland and free zone company figures without the mess

You ask in plain English, the AI does the bookkeeping work, and you or your accountant approve the result.

• You ask: “Prepare the intercompany reconciliation between Al Waha Trading LLC and Al Waha FZE for the year.”
• The AI agent: The agent lists every sale, purchase, recharge and loan between the two companies, matches each entry to its mirror in the other company, and shows the balances that do not agree, with the transactions causing each difference.
• You review: Your accountant resolves the differences, prepares the elimination entries and produces the consolidated statements. Consolidation choices, and any tax consequences, are theirs to make.

Use the same chart of accounts in both companies, and dedicated intercompany receivable, payable, sales and purchase accounts for each related company. That way every intercompany amount sits in an account the agent can find, and the elimination is a matter of reversing known balances rather than searching for them.

• Matching chart of accounts across entities
• Dedicated intercompany accounts per counterparty
• Both companies on the Business plan for multi-entity access
• Monthly intercompany check in the close checklist

HelloBooks gives you reconciled trial balances for each company. The elimination journals, unrealised profit on stock held at year end and the final consolidated statements are prepared by your accountant, usually in a worksheet built from the exported reports. If your group needs a standard consolidated pack each month, talk to us about a custom report at /book-a-demo.

Remember the tax position too. Trading between a free zone company and a mainland company can affect whether income is qualifying, and related-party pricing matters for corporate tax. Those are questions for your tax agent.

Al Waha FZE in a Dubai free zone imports electronics and sells AED 4.2 million to its sister company, Al Waha Trading LLC, which sells to retailers on the mainland. At year end the FZE shows AED 380,000 receivable from the LLC, but the LLC shows AED 352,000 payable. The agent finds a AED 28,000 shipment invoiced on 30 December and received on 3 January. The accountant accrues it, both sides agree, and the AED 4.2 million of intercompany sales is eliminated in the group accounts.