Intelligent and Accurate Group Accounting for Your Critical Reporting Periods
With financial statement consolidation software from LucaNet, you’ll eliminate manual processes and put an end to spreadsheet-based financial consolidation process errors in no time. LucaNet.Financial Consolidation offers you unique capabilities that have been built into our product from day one and which will see you using our software to generate consolidation statements within days, to internationally recognised financial standards.
How do we do this? A LucaNet Financial Consolidation installation comprises 3 critical elements:
Connect, Consolidate, Report. Simple
1. We make your data connections simple
LucaNet.Importer is an integral part of the LucaNet.Financial Consolidation software. It was designed-in from the very start. It’s not acquired technology, so it works beautifully every time, to take your underlying source data (anything from spreadsheets to ERP systems, in any structure) and places it neatly into our financial warehouse (did we mention the LucaNet.Financial Warehouse is another built-in feature?).
Now you have access to all of the data that you need without huge data warehousing projects or complex bespoke data extraction and transformation consultancy work. What’s next?
2. Run Your Financial Consolidations
LucaNet.Financial Consolidation’s modern software standards ensure rapid financial consolidation processes that can be delivered on-cloud or on-premise. User adoption is very high due to a simple, Excel-like UI, which also provides full Excel integration. And the Finance Department can fully manage the application themselves. A right mouse-click ensures that nearly all application management actions can be undertaken by your finance department team, with no need to call-in IT.
LucaNet also has built-in financial intelligence. It knows its debits from its credits and knows that a balance sheet must balance. Simple stuff, but most of our competitors can’t offer these features out-of-the-box. That means longer development times for you and greater cost – but not with LucaNet.
Need to document your internal financial consolidation process, make notes on results or specific items, or easily collaborate with your team? No problem, LucaNet also has a built-in workflow module to enable you to do just that, making your group accounting process a breeze.
FIND OUT MORE ABOUT LUCANET FINANCIAL CONSOLIDATION SOFTWARE
Intercompany transactions and eliminations are handled with ease, including multi-currency consolidations. Full analysis is available that enables you to drill-down as required and look into the detail, including viewing individual invoices. The usability of LucaNet together with built-in compliance with local reporting standards (IFRS, UK & US GAAP) brings peace-of-mind to Financial Controllers, together with independence from your IT department when you need to add new companies or make changes to your chart of accounts.
3. Reliable Data Reporting
LucaNet.Group Report means that getting great results from your new financial statement consolidation software is just the start. LucaNet also gives your managers in every department the ability to accurately submit financial and non-financial data with no errors, month after month, so that your intercompany transaction figures are always accurate, not just accurate the first time your brand new automated financial consolidation system is run following implementation.
Validate your data submissions, easily spot and eliminate errors, and ensure that your intra group accounting transactions for consolidated accounts are accurate. Simply high quality solutions from LucaNet.
Take a closer look at our consolidated financial statement software
+ Generate Your Consolidation Statements with these great LucaNet Features
- Pre-built, standard financial data warehouse including business and accounting calculation logic, both for legal and management consolidation
- Complete integration of consolidation, planning and business process management, in one data model
- Pre-defined, individually adjustable structures for P&L, balance sheet and cash flow statement
- Presentation of mulitple P&L and balance sheet structures
- Creation of consolidated financial statements including group P&L, balance sheet and cash flow statement and disclosures
- Creation of consolidated financial statements on a monthly, quarterly and annual level
- Weekly and daily flash reporting
- Parallel creation of consolidated financial statements according to any accounting standards (e.g. US-GAAP, IFRS, HGB)
- Segment reporting / segment consolidation
- Present multiple views of your organisation structure(s)
- Multi-level consolidation hierarchies (subgroups)
- Foreign currencies and group currencies all with currency conversion
- Generation of transition and consolidation postings
- Capital consolidation (full, proportional, at-equity)
- Disclosure of minority and third-party shares of profit
- Expense and revenue consolidation, consolidation of debts
- Elimination of intercompany profit and loss in current and fixed assets
- Consideration of deferred taxes
- Dimensional analysis of your financial information
- Cash flow statement on company and group level
- Ability to present non co-terminous year ends
- Task management
- Drill down to posting and document level
- Variance analyses and spark lines directly in value cells
- Comprehensive opportunities for comparison and charts
- Predefined reports and evaluations
- Management cockpit
- Individually definable key figures
- Complete Excel integration
"It is quite simple for us: Information provides clarity. Clarity provides transparency. And transparency is the basis for trust. Therefore we have opted to select LucaNet."