Consolidations software

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What is a Consolidation Software? Source: gcn. Facebook Twitter LinkedIn. My settings. Privacy settings. Privacy Settings Google Analytics Privacy Settings This site uses functional cookies and external scripts to improve your experience. GAAP stands for generally accepted accounting principles, which is the accounting standard set by the U. Multiple entities that abide by GAAP will have an easier time being able to transfer data with each other, as it will not require a large amount of legwork to reformat data into a unified set of details that can be turned into a financial report.

In consolidation software, this helps makes finances comparable across a variety of boundaries, borders, and geographical locations. This simply means the software can present financial statements and statements of cash flows in a manner that would be approved by these reporting agencies.

Some solutions, such as multi-entity accounting software , have consolidation capabilities built into the program. These solutions provide the benefit of being able to store information on dozens, hundreds, and sometimes thousands of entities. These unified accounting databases improve cash flow and can set up capabilities such as centralized AP and AR.

A core feature found within these multi-entity systems is the ability to create consolidated reports. These help drill-down to a specific location or department, or upwards to look at the financial performance of your organization as a whole.

These solutions work best in a cloud-based environment, where all facets of the company can access the solution from any of their locations, and record financial data for their location only. There is usually a central accounting department that handles monitoring the rolled-up financials for the organization as a whole.

Financial consolidation software gives an organization the ability to use their preferred type of accounting systems without being limited to options that can handle multi-entity records. For example, a business with 5 locations across the country may use 5 completely different types of accounting software. Another scenario is where all 5 locations have their own copy of specific software, however, the general ledgers are all operated separately from one another at each location. In these scenarios, a financial consolidation software becomes a way for management to centralize the financial records from all locations and create consolidated reports.

Talk with a Software Expert…. Financial Consolidation Software Get the best financial consolidation software for your business. Get a free consultation from an independent system expert.

Get Recommendations. Popular Products No products found. They are professional, relaxed and very knowledgeable. If you are wondering if you should try it, do yourself a favor and go for it. You will not regret it. JustConsolidate's workflow is intuitive and well defined.

You know the steps it will take to get the job done before you pay for the product. Its interface has a simple elegance that did not leave our team feeling overwhelmed following our first trial period.

That's it. It's that simple. Our close process has drastically improved and I'm no longer fighting spreadsheets at month-end. Our client loves that we have the consolidation housed in a QBO account, rather than a spreadsheet. We will continue to use this product at our firm when the need arises. JustConsolidate is amazing to use. At first I felt overwhelmed but with the Customer Support's help, everything went well.

Amazing product and customer support! App is intuitive and easy to use, customer support is excellent, and most importantly, it does exactly what it is supposed to do. It was easy to set up and is saving me a great deal of time and effort in producing consolidated statements.

I know many other companies that consolidate QBO instances manually through Excel. JustConsolidate is an amazing solution that does this, in a very elegant interface, with very specific accounting specifications and review procedures. See benefits in weeks with no customizations required Get up and running in no time, with out-of-the-box functionality, based on GAAP, IFRS, and industry best practices.

Owned and managed by the people who know your business best Take control of close and consolidation with a software solution that is designed to be owned and managed by your finance team, without involving IT or outside consultants. Improve visibility across financial processes for smarter decisions Shorten business processes, improve visibility into your data, and increase data accuracy by integrating data from other financial processes — including planning, tax provisioning, and transfer pricing — into one place.

Experience a faster close and shorter planning cycles with a single point of truth Increase accuracy, reduce risk, and encourage wider participation in financial processes by creating a single point of truth for your entire organization. JD Edwards. Viewpoint Viewpoint Spectrum Viewpoint Vista. Discover: Single source of truth versus single version of truth, and why you need both How to overcome obstacles to implementing a single source of truth for Reporting and Business Intelligence Seven simple steps to building your single source of truth Download Now.

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