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Accounts Production software for group accounts

group accounts software

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Does anyone have a recommendation for software to prepare group accounts, looking for the ability to consolidate approx 10 subsidary into parent accounts?

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By johnt27
04th Nov 2020 13:08

Is this for stat accounts or management purposes?

The usual suspects will do group stat accounts - Sage, Iris, Digita, CCH, CaseWare of which CaseWare is my preferred option.

For management purposes it's a bit more complicated, based on underlying systems.

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blue sheep
By NH
05th Nov 2020 10:17

we prepare group management accounts in excel, but as the group is small have not had a requirement for statutory accounts yet so use taxfiler. However we are looking to start doing this to satisfy the bank so are looking for a low cost cloud solution

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Replying to NH:
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By johnt27
05th Nov 2020 10:36

I'm not aware of a cloud based (low cost) solution that will produce group stats - taxfiler, capium, BTC don't do it. You're back to desktop/server based systems for this I think.

For group management accounts any of Spotlight, Futrli, Fathom, Syft, DataDear etc are all excellent products in their own right and connect to some cloud products.

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By daniel_
05th Nov 2020 11:06

We use Sage Accounts Production Advanced for the rare occasion where we need to consolidate. We're charged £368/year for a single standalone machine and 10 clients (we use for charity SORP too).

The process isn't too bad once you get your head around it. There are 3 'periods' within the year.
period 1: Parent's TB
period 2: Consolidation adjustments only
period 3: Subsidiary company TBs (each sub in a different cost centre so that it can print a nice consolidation schedule report)

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blue sheep
By NH
11th Nov 2020 09:47

thanks for all the replies, in the end this was what we found
Sage - seemed like the cheapest option but after a week of emails and phone calls and promises that they would process the order even now we have heard nothing

Iris - this might have been the best option but its Iris and expensive

Caseware - this was the one we went for, so far it feels very clunky and I feel like I have stepped back in time about 6 years, it will do the job but so far it seems to take an hour to do what you would normally do in 5 minutes on taxfiler

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