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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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.
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
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.
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)
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
