Turnkey statutory configuration: double standard IFRS and French norm
Automation of treatments
Automation of the financial brochure
Powerful and instant audit trail
Dynamic configuration
"We wanted a simple tool. Prior to this, we were only producing a combination of accounts in Excel for PMU. We needed an intuitive reliable solution that would provide an audit trail to show the origin of each item of data. As our consolidation is audited, it was vital for us to see the relationship between the data entered and consolidated amounts."
"By using a cloud-based solution, we enjoy real-time upgrades as well as developments and enhancements that Viareport makes to the application on a regular basis. This is a major advantage as compared with SAP FC. We were able to reduce costs related to application maintenance and we no longer need to perform version upgrades to benefit fully from the tool’s performance."
"I had prior experience working with Conso & Report and I found this tool to be well designed, simple and easy to set up, and available at a very competitive price in the market. "
Statutory Consolidation: FAQ
What configurations are provided in the tool ?
Conso & Report in the Finance Cloud is shipped with different configurations that enable you to start a new consolidation or reporting cycle quickly and easily. Depending on your requirements, we can set up the Consolidation configuration (French accounting or IFRS standards), the Reporting configuration (monthly reporting with analysis and budget) or the Sustainable Development configuration.
These configurations are validated by our Norms & Methods Department and shared with our customer base.
What are the advantages of a dedicated tool as compared with the use of Excel ?
Our dedicated tool ensures the reliability that an Excel format cannot. The presence of automatic consistency controls and audit trails guarantees data accuracy. Collaborative work is made possible with the implementation of workflows and advanced access rights management. All this ensures that you save valuable time.
Does the tool cover the entire consolidation cycle?
Conso & Report guides you through every step of the consolidation cycle:
- Data loading and import
- Intercompany reconciliation
- Posting of local or central journal entries
- Running of consolidation processing
Consolidation report for analyzing the consolidation and generating the reports required for the financial statements
What happens when there are regulatory changes ?
Our Norms & Methods Department ensures that configurations are compliant with regulatory changes (IFRS or ANC 2020-01). These enhancements are validated by partner chartered accountants and automatically shared with all of our users.
What are the different financial statements required ?
Consolidated financial statements must include a statement of financial position (formerly known as a balance sheet), a statement of comprehensive income (formerly known as an income statement), notes to the financial statements and a Group management discussion and analysis report.
What questions should a company ask itself before acquiring this type of solution ?
- Does the company have the required internal expertise to choose the new system?
- Will the structure of the Group undergo further developments?
- Should the management reporting aspect be integrated within the consolidation tool?
- Does the Group have specific characteristics?
- Is the Group ready to change its traditional processes?
My Group only has to comply with legal requirements. What would be my main selection criteria ?
- To satisfy legal requirements fully, a full audit trail must be made available to statutory auditors.
- There should be a predefined configuration with user-friendly data entry and data retrieval functionalities.
- Intercompany transactions must be easily managed, reconciled and eliminated.
My Group performs consolidation for management purposes. What would be my main selection criteria ?
- It should be a financial compromise between a standard basic tool and a customized tool with more advanced functionalities.
- You should choose a flexible tool capable of managing the scalability of your management reporting.
- Intercompany transactions must be easily managed, reconciled and eliminated.
- The solution should be able to accommodate the international expansion of your company.
- The tool must facilitate collaborative work with the implementation of workflows and advanced access rights management.
- There should be appropriate change management at team level.
What happens if the size of my company changes ?
The Finance Cloud offers a high degree of flexibility. Depending on the growth of your company, the number of users and subsidiaries can be adapted to your needs.
What data retrieval reports are available in Viareport's standard predefined configuration ?
There are over 400 data retrieval reports for publication (French ANC and IFRS standards) and analysis, i.e. analysis by entity, GL, ledgers, trial balances, etc.
- Tax adjustments and standardization restatements
- Activation of lease contracts
- Elimination of internal provisions
- Elimination of intercompany gains or losses
- Elimination of intercompany margins on stock
- Booking of deferred taxes
- Elimination of reciprocal transactions
- Elimination of dividends and net equity income
- Reset to historical value
- Booking of goodwill
- Elimination of consolidated shares
- Distribution of net equity
- Processing of equity method companies
- Generation of the cash flow statement