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Balance Sheet Consolidating Report
What is a Consolidating Balance Sheet?
A Consolidating Balance consolidates the assets, liabilities, and shareholder equity for all companies into one report. The consolidating balance sheet is financial report that is generated monthly and plays a vital role in assessing a company’s assets and liabilities. It serves as a valuable tool for CFOs and accountants. This type of report utilizes parameter-driven functionality to populate data. Below is an example of such a report.
Purpose of Consolidating Balance Sheets
ConsolidatingBalance Sheets are designed to facilitate the tracking of month-over-month performance of assets and liabilities for companies and organizations. By incorporating them into the best practices of the Finance and Accounting Department, companies can improve the automation of their monthly reporting, ensure fiscal control, and minimize the risk of overlooking significant changes.
How can Financial Statements Drive Faster and Better Decisions? As Corporate Controllers increasingly become key advisors and innovators in the Monthly Reporting Process, they must rely on modern self-service corporate performance management (CPM) and business intelligence (BI) tools. Using interactive Financial Statements like the Consolidating Balance Sheet Report template shown below enables them and users from the parent company leader teams to experience near real time balance sheet metrics and results that help drive faster and better decisions.
Who uses Consolidating Balance Sheet Reports and What are Some Key Analytical Features? In today’s fast-paced business environment, Corporate Controllers are under high pressure to supply end users like executive teams with timely and concise Financial Statements. Companies use key features like the ones below to support their users with effective analysis that helps drive corporate headquarter decisions:
Data Integration to Transaction Systems Most organizations these days want automated and streamlined planning, reporting and analysis. However, many of the benefits described earlier rely on best of breed Corporate Performance Management (CPM) tools and/or Business Intelligence (BI) capabilities as well as data marts or data warehouses that use pre-built integrations to the organization’s ERP system. Oftentimes, they also need integrations to other key data sources like CRM, subscription systems, payroll tools, etc. Modern, cloud-based ERPs like Microsoft Dynamics 365 Finance (D365 Finance), Microsoft Dynamics 365 Business Central (D365 BC), Sage Intacct, Acumatica, Netsuite and SAP have robust APIs which allow for dynamic integrations to CPM and BI tools that are fully automated and flexible to run on a schedule or on-demand.
Additional Resources to Aid with Research of Templates, CPM and BI Tools
Who uses Consolidating Balance Sheet Reports and What are Some Key Analytical Features? In today’s fast-paced business environment, Corporate Controllers are under high pressure to supply end users like executive teams with timely and concise Financial Statements. Companies use key features like the ones below to support their users with effective analysis that helps drive corporate headquarter decisions:
- Dynamic listing across columns of the selected subsidiaries
- Expandable rows by GL account category and account
- Variance analysis in amount and percent, and with indicators
Data Integration to Transaction Systems Most organizations these days want automated and streamlined planning, reporting and analysis. However, many of the benefits described earlier rely on best of breed Corporate Performance Management (CPM) tools and/or Business Intelligence (BI) capabilities as well as data marts or data warehouses that use pre-built integrations to the organization’s ERP system. Oftentimes, they also need integrations to other key data sources like CRM, subscription systems, payroll tools, etc. Modern, cloud-based ERPs like Microsoft Dynamics 365 Finance (D365 Finance), Microsoft Dynamics 365 Business Central (D365 BC), Sage Intacct, Acumatica, Netsuite and SAP have robust APIs which allow for dynamic integrations to CPM and BI tools that are fully automated and flexible to run on a schedule or on-demand.
Additional Resources to Aid with Research of Templates, CPM and BI Tools
- Templates from Solver that are pre-built and that work out-of-the-box using the Solver CPM cloud. Click here.
- Template examples: You find more than 500 CPM and BI Template examples here.
- Interactive Dashboard examples: Try Power BI dashboard templates from Solver here.
- Software evaluation and selection:
- Vendor Comparison and ROI (free interactive tool)
- Evaluating planning, budgeting and forecasting functionality
- Evaluating Financial Reporting functionality
- Evaluating Dashboard functionality
- Evaluating Data Warehouse functionality to achieve “one version of the truth”
- Demonstrations and other specific assets: Solver Tour Central
- Using third party analysts and consultants to aid in vendor selection
- Creating efficient processes:
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