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Intercompany Transaction Audit Report Example

What is a Intercompany Transaction Audit Report?

Intercompany Audit reports are considered important consolidation tools and are used by Group Controllers to locate and review all intercompany transactions in a given period. Some of the key functionality in this type of report is that it finds internal transactions that have taken place between subsidiaries during the month. This includes sales, puchases, payables and receivables. The report also displays both the due-to and due-from parties in a transaction. You find an example of this type of report below.

Purpose of Intercompany Audit Reports

Companies and organizations use Intercompany Audit Reports to quickly get a list of intercompany activity in any given period. When used as part of good business practices in a Finance & Accounting Department, a company can improve its consolidation process and speed as well as reduce the risk that transactions don’t get correctly eliminated.

Intercompany Audit Report Example

Here is an example of an Intercompany Transaction Audit Report.

Intercompany Transaction Audit Report Example

Intercompany Transaction Audit Report Example

You can find hundreds of additional examples here

Who Uses This Type of Report?

The typical users of this type of report are: Group Controllers and Accountants.

Other Reports Often Used in Conjunction with Intercompany Audit Reports

Progressive Finance & Accounting Departments sometimes use several different Intercompany Audit Reports, along with intercompany elimination forms and reports and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Retained Earnings Rate Calculation Report Example

What is a Retained Earnings Rate Calculation Report?

Retained Earnings Rate Reports are considered month end consolidation tools for multi-nationals and are used by Group Controllers to determine the average exchange rate for roll forward Retained Earnings. Some of the key functionality in this type of report is that it calculates the required currency translation rate for the Retained Earnings (RE) opening balance at the beginning of the new fiscal year. It lists all periods of the year down the rows for both RE adjustments and Net Income (NI). It starts with RE opening balances and ends with RE ending balance. Local and reporting currency is listed for each foreign subsidiary across the columns. Finally, the Weighted Average Exchange Rate is displayed in the upper right corner for each location. You find an example of this type of report below.

Purpose of Retained Earnings Rate Reports

Companies and organizations use Retained Earnings Rate Reports to automatically calculate the Average Exchange Rate for the Retained Earnings to carry forward. When used as part of good business practices in a Finance & Accounting Department, a company can improve its consolidation process as well as reduce the risk that financial reports are incorrect.

Retained Earnings Rate Report Example

Here is an example of a Retained Earnings Rate Calculation Report.

Retained Earnings Rate Calculation Report Example

Retained Earnings Rate Calculation Report Example

You can find hundreds of additional examples here

Who Uses This Type of Report?

The typical users of this type of report are: Group Controllers and Accountants.

Other Reports Often Used in Conjunction with Retained Earnings Rate Reports

Progressive Finance & Accounting Departments sometimes use several different Retained Earnings Rate Reports, along with balance sheet and profit & loss reports and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Profit & Loss with Currency Analysis Example

What is a Profit & Loss with Currency Analysis?

Profit & Loss Currency Reports are considered multi-national analysis tools and are used by CFOs and Group Managers to analyze financial results for a subsidiary reporting in a foreign currency. Some of the key functionality in this type of report is that it displays local (functional) and reporting currency amounts side by side. The columns include both monthly and Year-to-Date figures. You find an example of this type of report below.

Purpose of Profit & Loss Currency Analysis Reports

Companies and organizations use Profit & Loss Currency Analysis Reports to enable managers from Corporate HQ to easier discuss financial results with their foreign subsidiaries. When used as part of good business practices in a Finance & Accounting Department, a company can improve its analysis of international locations as well as reduce the risk that oversights occur while reviewing results from foreign offices.

Profit & Loss Currency Analysis Report Example

Here is an example of a Profit & Loss Currency Analysis report.

Profit & Loss with Currency Analysis Example

Profit & Loss with Currency Analysis Example

You can find hundreds of additional examples here

Who Uses This Type of Report?

The typical users of this type of report are: CFOs and Group Managers.

Other Reports Often Used in Conjunction with Profit & Loss Currency Analysis Reports

Progressive Finance & Accounting Departments sometimes use several different Profit & Loss Currency Analysis Reports, along with balance sheets, cash flow reports and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Profit & Loss with Exchange Rate Analysis Report Example

What is a Profit & Loss Report with Exchange Rate Analysis?

Profit & Loss Currency Reports are considered month end consolidation tools and are used by CFOs and Group Managers to determine the impact of actual versus budget exchange rates on results. Some of the key functionality in this type of financial report is that it automatically re-calculates the Budget to use the same rate as the Actual data. Managers can directly compare the regular budget variance (at the budget rate) with the recalculated budget (at the actual rate). Managers can then see how much of their actual to budget variance was purely because of differences in exchange rates and how much was actually due to the company’s performance. You find an example of this type of financial report below.

Purpose of Profit & Loss Currency Analysis Reports

Companies and organizations use Profit & Loss Currency Analysis Reports to easily determine true subsidiary performance versus good (or bad) luck with actual versus budget exchange rates. When used as part of good business practices in a Finance & Accounting Department, a company can improve its ability to see true performance issues versus results caused by external forces such as exchange rates as well as reduce the risk that important problems go undetected.

Profit & Loss Currency Analysis Report Example

Here is an example of a Profit & Loss Currency Analysis report.

Profit & Loss with Exchange Rate Analysis Report Example

Profit & Loss with Exchange Rate Analysis Report Example

You can find hundreds of additional examples here

Who Uses This Type of Financial report?

The typical users of this type of financial report are: CFOs and Group Managers.

Other Financial Reports Often Used in Conjunction with Profit & Loss Currency Analysis Reports

Progressive Finance & Accounting Departments sometimes use several different Profit & Loss Currency Analysis Reports, along with balance sheets, cash flow reports and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Trial Balance with Currency Analysis Example

What is a Trial Balance with Currency Analysis?

Trial Balance Currency Reports are considered month end control tools and are used by Group Controllers to see subsidiary balances before and after currency conversion. Some of the key functionality in this type of trial balance report is that it displays local (functional) and reporting currency amounts side by side. The report also displays currency translation adjustment (CTA) due to differences in month end average vs month end closing exchange rates. You find an example of this type of trial balance report below.

Purpose of Trial Balance Currency Reports

Companies and organizations use Trial Balance Currency Reports to make it easy for their accounting staff to review subsidiary trial balance data being reported in a foreign currency. When used as part of good business practices in a Finance & Accounting Department, a company can improve its month-end consolidation process as well as reduce the risk that there are errors or exchange rate issues in data reported from foreign subsidiaries.

Trial Balance Currency Report Example

Here is an example of a Trial Balance Currency Analysis report.

Trial Balance with Currency Analysis Example

Trial Balance with Currency Analysis Example

You can find hundreds of additional examples here

Who Uses This Type of Trial Balance Report?

The typical users of this type of trial balance report are: Controllers and Accountants.

Other Trial balance reports Often Used in Conjunction with Trial Balance Currency Reports

Progressive Finance & Accounting Departments sometimes use several different Trial Balance Currency Reports, along with profit & loss, balance sheet reports and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

hybrid cloud

There are more than 200,000 companies running on-premise ERP systems from Microsoft, Sage, SAP and Acumatica world-wide and many are not planning to move to the cloud yet. However, if you are one of them, this does not mean that your company can’t start taking advantage of modern cloud-based reporting solutions today to drive better and faster decisions for yourself and your management team!

Hasn’t Cloud-based reporting for on-premise ERPs been available for a long time?

Yes, vendors like Prophix, Solver, Vena, Adaptive Insights, and Planful (formerly Host Analytics) have offered both cloud-based financial reporting and budgeting for years. However, all of these vendors have typical corporate performance management (CPM) architectures that require data to be loaded from the on-premise ERP and into the cloud CPM tool before the user can run reports. 

The process requires a “refresh” of data from the ERP database into the CPM database which means that the data users see in reports is not real-time. This also mean that the drill-down on any number is only as detailed as the lowest level data that was loaded into the cloud CPM database. 

Your executives are often ok with this because they want to wait on their report analysis until the accounting team has closed the books. However, the accounting team that is posting transactions in the ERP system almost always prefers live ERP reporting because they want to immediately see the impact of journal entries in their reports. They don’t want to refresh data into a CPM reporting database first, and then wait one minute, ten minutes or significantly longer to run reports after the data has been transferred to the CPM tool.

How do I get true live reporting for my on-premise ERP GP data?  

The obvious answer is that you use the report writer that natively comes with your ERP system such as  Management Reporter, GP Report Writer, Smartlist or SQL Reporting Services (SSRS). However, at best, it would be safe to say that these tools have aged “gracefully,” and they are just not comparable to many modern cloud reporting tools.

Key weaknesses of on-premise report tools include:

  • Not particularly user-friendly for accounting staff to design reports.
  • Lack of easy and professional formatting.
  • Typically requires VPN or Terminal Server to connect to the ERP in order to run reports from outside the office network.
  • Maintaining multiple report writers for different data (e.g. for formatted financial statements versus sub-ledger transaction reports).

In order to overcome these weaknesses and help on-premise ERP customers maximize the value of their data a modern, cloud-based reporting platform, Solver has now launched what they refer to as “Hybrid Cloud Reporting.” You can see it live in this video. This is a unique integration technology that enables you to:

  • Use your web-browser to run beautifully formatted reports (looks like Excel formatting).
  • Benefit from true real-time reports on your ERP data without any data transfer to a separate reporting database.
  • Drill-down from any number in the report directly into your underlying GP transactional data. 
  • Easy internet and browser-based access with no need for VPN, or software like Terminal Server.
  • Enter budgets from user-friendly forms (looks like Excel) in the cloud and have the transactions stored directly into the GL budget table in the ERP database.
  • Be better prepared to move to a cloud ERP later because the reporting and budgeting solution is already in the cloud. 

In other words, now your accountants and reporting end-users get the best of two worlds by only needing a web browser to run live ERP reports and drill-down.

Below is a simple architecture diagram to explain how it works:

hybriddiagram

What about budgeting and forecasting?

Like many other cloud-based CPM solutions, Solver also offers budgeting and forecasting. With the new Hybrid Cloud technology and Solver’s cloud-based Planning Module, users can store budget data directly back from Solver’s budget forms in the cloud, into the General Ledger budget table in the ERP database. 

So, if you struggle with manual Excel-based spreadsheets for your budgets, you can save a lot of time by eliminating emailing files between users, linking between spreadsheets, and put better controls in place for the entire budget process with workflow and approvals. 

As an example, users can access budget forms like the example below with their browser and instantly, until you close the budget process, update their department’s budget in the ERP system. Since Solver’s Hybrid Cloud updates are real-time, reports can immediately be run to see the impact of these changes on the budget.

Enjoy Faster and Better Decisions in the 2020s

Companies like Solver, Prophix, Vena, Adaptive Insights, and Planful are driving the next generation cloud-based reporting and planning technology. However, with the lack of live reporting and live budget write-back to on-premise ERP systems, accountants and very active ERP users have been left with their legacy tools for their real-time reporting needs.  

With the release of Solver Hybrid Cloud, these users now get the best of both worlds and can start ushering in the 2020’s by enabling themselves and other users with faster and better decisions.  Learn more about the benefits of choosing Solver CPM solutions by contacting us today or requesting a demo. 

Supported ERP systems are: Microsoft Dynamics GP, SL, and NAV, Sage 100 (SQL)*, 300* and 500*, SAP Business One (SQL)*, and Acumatica*.

*) Direct budget writeback not offered for these ERPs.

 

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