Choice of consolidation software

Recommendations for consolidation software

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I currently do a consolidation of 15 companies in an excel spreadsheet, which is timely and prone to error.  The accounts to each company are kept in Sage 50, so the natural progression seems to be to Sage 200 which can handle the consolidation.  However, all but 2 of the 15 companies have around just 5 to 10 transactions a month, so Sage 200 seems an overkill.

Can anyone recommend another application for the consolidation which would offer better value for money.

Thank you.

 

Replies (6)

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By tom123
17th Oct 2017 16:23

How many transactions are in the 'two' companies?

(Speaking as a Sage 200 user, with one trading company and a couple of 'holding' ones).

Sage 200 is good software - but it's use should be informed by the volume of trading companies transactions, rather than the consolidation alone.

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Replying to tom123:
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By dawnduffy
18th Oct 2017 10:01

I'd say there were about 1,000 transactions a month.

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AccountsIQ
By AccountsIQ Marketing
18th Oct 2017 09:40

AccountsIQ sounds perfect for your needs as consolidation is a particular USP of this product and as it's cloud accounting software it's affordable too.

https://accountsiq.com/consolidation/
https://accountsiq.com/industries/group-companies/

Also read/watch the client video case study Salamanca Bank where their finance director explains how AccountsIQ has solved their consolidation and reporting pain points.

https://accountsiq.com/case-studies/salamanca-group/

AccountsIQ is also running a webinar this morning at 11am on the topic of consolidation and the software market place if you have time? Sign up here https://accountsiq.com/webinars/

If you'd like more info, email us at [email protected]

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By jonathan.kempson
18th Oct 2017 15:29

I wonder if giving some extra attention to what you're doing in Excel will largely deal with your issues of time to complete and risk of errors. Certainly the latter would be largely dealt with by establishing refreshable links to the Sage 50 data. Refreshable links plus some attention to how your Excel model is structured may allow you to significantly reduce the time needed.

If you pursue Sage 200 a starting question is whether all the companies have the same base currency. If they don't, then given consolidation would be your main motive for moving, Sage 200 isn't a good choice.

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By tom123
18th Oct 2017 16:43

1000 transactions a month is a reasonable size for moving to Sage 200, I would have thought.

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By Chantel@csw
06th Nov 2017 11:20

Here at Compact Software Ltd, we offer the ability to do consolidated accounts. If you would like more information, feel free to send me a message and I would be more than happy to assist you further.

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