Drive productivity, real-time decision making and competitive advantage
24th Feb 2020
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For Group companies looking to drive productivity, real-time decision making and competitive advantage, here’s an opportunity for CFO/FCs/Heads of Finance to get consolidated insights from the award-winning AccountsIQ - Enterprise Accounting Software of the Year 2019 & 2018 team.
Join our Webinar this Wednesday at 11am GMT, for a high-level look at AccountsIQ's financial management platform, covering:
AccountsIQ’s intuitive browser
Deeper insights with dimensional analysis in the General Ledger
Drilldown to transactions in GL
Journaling, cost and prepay journals
Cashflow forecasting tool
Reporting dashboards and Excel Add-in
Download our latest guide 'How to Solve a Problem like Consolidation' for solutions to key problems like multi-currency, inaccurate data and intercompany recharging and the benefits of automating consolidation with AccountsIQ.
One of the challenges Groups face is consolidating monthly accounts. Due to inconsistencies in the way subsidiaries might need to apply GL codes, consolidation in Excel is not an uncommon practice for Group finance teams every month. This comes with risk of error, the headache of out of date information and the frustrations of not being able to investigate the data at subsidiary level from the consolidated report.
AccountsIQ is known for the unique way in which it handles multi-company and multi-currency consolidation which means Group Finance Directors can consolidate group accounts each month in just one click with our cloud accounting software. The information is in real time, it is accurate and you can take a look under the hood to explore the data further. The consolidation module in AccountsIQ solves the problem of consolidating non-standard GL Codes. Group FDs can structure one single set of GL categories and sub-categories which convert the different coding structures across the group. This gives the Group FD one clear, consistent view the whole way through the Group accounts – right down to the lowest level subsidiary transaction. Once set up, you can consolidate monthly reports in just one click.
AccountsIQ’s consolidation module brings you all of the key aspects of true consolidation. It is designed to understand and allow for:
Complex ownership including partial ownership, minority interests and Groups within Groups
Automated inter-company transactions and elimination
Post-consolidation adjustments at Group level
Multi-currency trading to ensure every subsidiary is using common (centrally-controlled), daily exchange rates
Consolidated budgets and revised budgets, actuals and variances, rolled up from subsidiary holdings and with the ability to drill back down