Spreadsheets cost time and money

Managing your consolidations in spreadsheets, can waste valuable time, risk potential errors that are difficult to track down and result in unplanned delays and costs.

When operating across accounting jurisdictions, these can lead to missed reporting deadlines with serious consequences to overall group reporting and potentially result in penalties.

Damaged confidence in your business

Complying with international accounting standards is an important step in establishing investor and market confidence. Investigations resulting from erroneous reporting can result in diminished investor confidence, withdrawal or even delisting from stock exchanges.

Inaccurate management information

Having the right information to effectively manage your business is vital to maximising profitability and shareholder returns. Without accurate, current data, modelling and reporting may be misleading.

Currency fluctuations can also have a huge impact on the accuracy of management information and can make the difference between planning for a profitable outcome or facing an unexpected loss.

GREENTREE CONSOLIDATIONS & TRANSLATIONS SOLUTIONS

Multiple consolidation levels

Consolidate simple two level entities right through to highly complex, multi-layered structures requiring multi-level rollups or consolidation paths.

Improve reporting accuracy

Translating foreign exchange rates and consolidating international accounts is made easy and extremely reliable by avoiding the inconsistencies found in simplistic spreadsheet based systems.

With Greentree’s Consolidations and Translations modules data cannot be misplaced, correct formulae are built in and exchange rates are selected automatically. All of which means your reporting is more accurate than ever.

Eliminate currency conversion errors

Costly conversion errors are eliminated using the power of Greentree’s flexible exchange rate management function. These can be established according to your business rules and can include average, spot, budget and closing rates along with any other user-defined reporting rates that you specify. All of which gives you the confidence to report and plan based on conversion rates you can be sure of.

Centrally managed, collaborative processes

The entire consolidations process can be managed from one central location giving both child and the parent organisations visibility of the consolidations process bringing the different levels closer together.

This improved transparency has the added advantage of child organisations being more likely to take responsibility for the timeliness of their own reporting if they are able to view the status of the entire group’s submissions.

Reduce the need for local accounting expertise

Reduce your costs by focussing on simple data entry at the local level and let Greentree manage the process of intercompany eliminations, allocations, currency translations and minority interest calculations resulting in accurate consolidations.

Flexible consolidation framework

The combination of built-in period mapping, account mapping, historic accounts and multi-level consolidation within the Greentree consolidation framework ensure you have the flexibility to report in the way that fits your business requirements while ensuring best international accounting practise.

Consolidation collates all child accounts into a separate company set up for the specific purpose of consolidated reporting and is a required format in many countries.

Manage business profitability across foreign exchange

Greentree’s Consolidations and Translations modules can be configured to your organisation’s policies. Currency rates can be as accurate as you require to reflect real time variations and allow you to effectively manage the fluctuations of foreign exchange accounting.

KEY FEATURES

Greentree Consolidations and Translations module is compliant with International Accounting Standards:

• IAS 27 Consolidated and Separate Financial Statements
• IAS 21 The Effects of Changes in Foreign Exchange Rates
• IRFS Business Combinations

The key features of this module include:

Consolidations

Consolidate multiple accounts for financial reporting. Includes multi-level consolidations.

Period Mapping

Handle different year ends between related companies with confidence.

Account Mapping

Automatically group accounts according to rules you establish.

Manage Eliminations

Process the elimination of inter-company transactions.

Balance or Transaction

Consolidate at summary or transaction level depending on your specific requirements.

Translations Only Module option

For businesses wanting simple currency conversion

Blanket or Granular Translation Decisions

Specify summary or transaction and rate type preferences at General Ledger account level.

Multiple Foreign Currencies

Integrate as many currencies as you need.

Foreign Currency Reserves Management

Handles foreign currency translation reserves automatically.

Translation Rates Overrides

Override system default rates at the time of translation if needed.

Dynamic Currency Rate Updating

Automated inward data feeds ensure the rates being used are totally current.

Multiple User-defined Financial Reporting Rates

On top of the existing average, spot, budget and closing rates, set your own specific rates for financial reporting purposes.

Historic Accounts Exchange Rates

Value Fixed Assets at historic rates to comply with international accounting standards.

Tiered Access Security

Create and control user access according to tiered rules to maintain system security.

Audit Trail

All actions are tracked back to users for full audit trail reporting. Transactions posted as General Ledger journal or batch edit listings.

Export Translations

Translations are easily exported into Excel for further analysis.

Flexible Rates

Exchange rates can be set to be different across different account types e.g. Profit and Loss or Balance Sheet, or to change across time.

Reporting Tools

Use Greentree’s F.R.E.E. functionality links to your accounts modules to put out data for further reporting and analysis.

Important notice: Microsoft, Windows and Excel are either registered trademarks or trademarks of Microsoft Corporation in the United States and/or other countries.