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Finconsol
Consolidation, budgets and dashboards for company groups
2 followers
Consolidation, budgets and dashboards for company groups
2 followers
Finconsol turns the books of every company in a group into one set of group accounts, with currencies translated, intercompany balances removed and minority interest worked out. Zoho Books, Xero and QuickBooks connect directly, and other systems come in as a trial balance. Keep budgets and forecasts beside the actuals, add statistics such as headcount next to the figures, and build your own dashboards, reports and board packs. Closed months are locked. Priced per company, every user included.
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Hi everyone, I'm Amit, and I built Finconsol with the Finconsol team at Aaxonix.
Why we built it: in a group of companies, each company closes its month on time, and then the group close takes another week or more. Trial balances are exported from different systems, accounts are re-mapped in a workbook, exchange rates are looked up by hand, and intercompany balances do not agree. Budgets are kept in separate files, headcount and other KPIs in another sheet, and the board pack is built by hand each month.
What Finconsol does:
Consolidation. Zoho Books, Xero and QuickBooks companies connect directly, and any other system comes in as a trial balance upload. Each company's accounts are mapped once to one group chart, and a new unmapped account stops the month so nothing drops out.
Currencies and intercompany. Every company is translated into the group currency at closing, average and historical rates, with the translation reserve worked out. Intercompany pairs are compared every month and eliminated, and minority interest is worked out for partly owned companies.
Budgets. Budgets and latest estimates for each company or for the group, compared with actuals for the month and the year to date.
Statistical accounts. Figures such as headcount, units, stores or rooms sit next to the financial figures, so you can report revenue per employee or cost per unit.
Dashboards and reports. Your own dashboards, custom reports and board packs that refresh each month, with Excel and PDF export and starting packs for five industries.
Controls. Group adjustments stay separate from the companies' books, closed months are locked, and every change is recorded.
Who it's for: CFOs and finance teams who close 2 to 30 companies every month and give the board one set of numbers, and accounting firms that look after several client groups.
What is different: you pay per company, not per user, so your team, your board and your auditors can all sign in. Companies on different accounting systems can sit in the same group.
You can try it two ways. The live demo shows a sample group without signing up: finconsol.com/live-demo. The free trial runs for 15 days, needs no card and covers up to 2 companies, and you can start it from finconsol.com/pricing.
What we would like to hear from you: how does your group close its month today, and which step takes the longest? If you consolidate in a spreadsheet, what would you need to see before you moved?