A Must Read for All Finance Professionals Wanting to Make Consolidation Effortless
No matter what size business you are, if you have more than one entity you will need to create consolidated accounts. You’ll also want to use that consolidated information to make informed decisions and plans.
Until recently, rather than invest in expensive consolidation software, most finance leaders of mid-sized organisations chose to create consolidated reports using spreadsheets. Although this approach was error-prone and cumbersome, it was an economical solution. However, a new wave of affordable, Cloud-based accounting systems allows forward-thinking finance leaders to automate consolidation, get accurate data and take a really good look under the hood of their group accounts.
Read our new report 'How to solve a problem like consolidation' where we examine the most common pitfalls groups encounter when using spreadsheets like Excel for consolidation and aim to share some of the solutions posed by developers of Cloud-based accounting apps.
Download the report which covers:
Common pitfalls groups encounter with consolidation (such as):
Multi-user editing risks and loss of control
Inaccurate data, partial ownership and multi-currency issues
Complicated inter-company balances and charges
Solutions provided by Cloud-based accounting apps
The benefits of investing in automation
Top ten benefits when automating group consolidation with AccountsIQ
AccountsIQ's award-winning cloud accounting software simplifies how finance functions capture, process and report the results of multiple location businesses.
Built for the cloud, AccountsIQ is ideal for dynamic businesses that are growing locally or internationally, via subsidiaries, acquisition or through a franchising model, enabling anytime-anywhere processing, while allowing easy central control and consolidated reporting of results. Its unique consolidation engine, along with its ability to integrate with other applications, makes it easy to scale.
Today, over 4,000 companies in 85 countries enjoy 24-7 access to top level Financial Management functionality, providing smarter working practices, including integrated approval workflow app, expenses app and API integration with front end systems, while delivering simple and accurate consolidated results and a superior level of business insight.
AccountsIQ won Enterprise Accounting Software of the Year for the second year running at the recent UK Accounting Excellence Awards and has been ranked in the top half of the Deloitte’s Technology Fast 50 high growth index for the past 4 years.