Messy eliminations and currency mismatches hurting your reports? PivotXL streamlines financial consolidation with precision and speed!
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Separate Data Cubes for subsidiaries and the parent company ensure accurate financial consolidation. Subsidiaries retain local Chart of Accounts (CoA), while the parent cube standardizes data for reporting.
Sync your data through manual CSV upload or API connectivity, allowing seamless integration from various sources. During the syncing process, we apply validation rules, check for errors, and provide guidance to resolve discrepancies, ensuring data accuracy and consistency.
Calculations can be programmed to convert local currency into a centralized currency. Different currencies can be applied to various types of accounts. For example, P&L accounts can use the monthly average exchange rate, while BS accounts can use the latest exchange rate.
Once the Data is uploaded and the calculations and groups automatically happen as per the definition. Reports are automatically generated to Excel or our Web Dashboard.
Intercompany dashboards and reports can be created and shared with the heads of different subsidiaries. If any discrepancies are identified, they will be highlighted, allowing the subsidiary heads to address and resolve them.
Relevant Features For Financial Consolidation Software
Data Cubes will be prepared for your individual entity and master entity. As the trial balance data comes in, it will go to both data cubes.
Groupings will be defined in such a way that the intercompany accounts are left out so only the relevant roll-ups are set in for building financial statements
Custom scripts will be designed to convert local currency into reporting currency. Multiple currency exchange rates can be used for different different types of accounts. For example P&L Accounts can be converted at one rate and balance sheet accounts can be converted at another rate.
Report templates can be designed in Excel or dashboards. All the statements with key financial ratios will be calculated automatically. Reconciliation accounts can be prepared and shared with relevant stakeholders via shared dashboards or connected Excel Files.
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