Plex Systems ERP Software

Consolidate to Report

Financial reports for the entire enterprise.

Organizations that operate in a multi-company structure must consolidate and link financial reports throughout the enterprise. Beyond the need to perform a month-end or year-end closing process for each individual business entity, the corporate accounting team needs to perform the same processes at the consolidating level of the organization.

In many organizations the month end process can vary in terms of complexity. However, the business process flow of a typical consolidation would consist of most if not all of the tasks in the following sequence:

  • Run a consolidation routine to combine financial data
  • Analyze consolidated financial data
  • Perform necessary reconciliations
  • Enter elimination adjustments
  • Prepare draft financial reports
  • Enter additional consolidated adjustments
  • Reconcile
  • Produce and publish financial statements

  • Streamline the consolidation process
  • Eliminate duplication of data.
  • Summarize transactions at the entity level by account and accounting period
  • Totals flow directly into the consolidated financial statements when are run.
  • Remove the need to extract transactional data into a separate table or database.

  • One set of transactions

    Use only one set of transactions for reporting, whether at the entity level or the consolidated level. No more worry of transactional errors from dual recording. As the books are closed at the lower level, the data is ready for consolidation without any additional steps.

  • Unique chart of accounts

    Each entity within the organizational structure can maintain its own unique chart of accounts; a consolidation designer feature allows for mappings at a group/category level making development and maintenance of statements extremely intuitive. By linking the individual statements to the consolidated statements, analysis and reconciliation become more efficient.

  • Instant Reports

    When an entity enters transactions affecting its own statements, those transactions are instantaneously reportable at the consolidated level. Elimination entries are maintained at the consolidated level. Plex provides a quick and easy way to enter and reconcile these entries so the users can concentrate on finalizing and publishing results.

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Focus on Financials

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