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As a company grows, finance usually wants to plan and hold each department accountable for its own numbers. If your accounting system tags entries with a department dimension, you can deploy a single P&L template across every department in Francis, with actuals flowing into each one automatically.

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Split the P&L by department

Most companies already carry a department dimension in their accounting system, with a value for each department on the relevant journal entries. Francis reads those values directly, so the departments are available to break down by without any setup. Break the P&L down by department with a breakdown. The sheet becomes a template: you build the P&L structure once on the parent sheet, every department inherits it, and each department’s actuals filter into its own sub-sheet. Department heads plan their own numbers, the entity rolls them up, and the consolidated sheet rolls up all entities. On a multi-entity model, split by entity first and then by department, as covered in the breakdowns walkthrough. A dimension breakdown always sits under an entity, never on the consolidated sheet.
Consolidated
Veloton ApS
Sales
Marketing
Finance
Veloton Inc
Sales
Marketing
Finance

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Keep the balance sheet and cash flow at entity level

Split the P&L by department, but keep the balance sheet and cash flow in a separate sheet broken down by entity only. Companies rarely tag balance sheet values with a department, so a full balance sheet per department is just noise, with the Unallocated sub-sheet carrying nearly every value. Keep the model clean instead: the P&L splits by entity and department, and the balance sheet and cash flow split by entity alone. The cash flow then pulls its P&L inputs (net profit, the depreciation add-back) at entity level, giving you cash flow per entity without a departmental split it doesn’t need.
Consolidated P&L
Veloton ApS
Sales
Marketing
Finance
Veloton Inc
Sales
Marketing
Finance
Consolidated BS + CF
Veloton ApS
Veloton Inc

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Departments that are only cost centres

Sometimes departments are pure cost centres, so you only want to plan their OPEX rather than a full P&L. Even then, deploy the full P&L template for simplicity and just leave the lines that don’t apply (revenue, direct costs, financial items, depreciation) at zero on those sub-sheets. The zero rows roll up correctly and don’t affect totals. Each department sub-sheet becomes an OPEX planning view by default, which is usually exactly what the department head needs, while the entity and consolidated sheets still show the full P&L. This keeps the number of sub-sheets to a minimum and everything rolls up cleanly.