Financial consolidation of accounts can be a complex task with several manual processes. On the other hand, if you have the right solution in place, consolidation can be done with much greater automation across different accounting systems and the like.
Consolidiation of accounts
Consolidating financial data across different accounts and companies can be a time-consuming task, due to the different financial systems, chart of accounts and other things that needs to be addressed.
InfoSuite’s consolidation solution greatly simplifies this task, so that you do not need to manually process the accounting figures.
Based on the desired automated handling of eliminations, aggregations, currency management and the like, a number of rules are set up to ensure easy and efficient financial consolidation.
Elimination of internal sales
Consolidation of consolidated accounts between subsidiaries also involves elimination of internal trade/commerce, balances and equity interest.
In InfoSuite it is possible to set up a number of dimensions for registration for internal trade. This makes it easier to sort out these items into the consolidated accounts.
Consolidating accounts from subsidiaries in different markets requires efficient handling currencies.
A common currency stack in InfoSuite ensures, that it is always the same starting point for conversion to, for example reporting currency at group level. All amount fields are found in local currency, company currency and common reporting currency for consolidation.
In the video on the right, you can see more about what options you have with InfoSuite Finans in terms of consolidation, financial reporting, distribution of management reports and much more.
Easy budget entry
Combining InfoSuite’s financial solution with the integrated budget module makes it possible to enter financial budgets and forecasts in an easy and efficient way. That way, your financial management will not be much easier.
The automatic consolidation of entered budgets makes it easy to collect and manage budget entries across departments and markets. This eliminates the hassle of collecting the individual budget spreadsheets and eliminates many of the errors that may occur in the manual process.