Shorten production times and increase the reliability of statutory consolidation processes

STATUTORY CONSOLIDATION
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Simplify and automate your daily tasks

Our applications help you save time by simplifying each step in the consolidation process: Interface with upstream accounting systems, automatic data collection and controls, posting of consolidation entries, generation of consolidated financial statements and auditing of consolidation operations.

Interface easily with data from upstream systems :

  • Import any type of source file, e.g. CSV, TXT, EDI
  • Pre-configured cross-reference mapping tables (chart of accounts)
  • Easily defined cross-reference mappings
  • Controls run on data before importing
  • Zoom from imported data to local accounts
Avantages

Easy adoption by contributors in subsidiaries
Reliability of interfaces with controls on import data and auditing of cross-reference mappings
Fewer manual tasks

Ensure the accuracy of company data collection :

  • Consistency controls
  • Online help accessible in every schedule and report
  • Generation of customizable XL or PDF books
  • Smooth intuitive Web navigation
  • Viewing of intercompany transactions in real-time
Avantages

Easy instant start for contributors
Reliable data collection
Time saved in validating company data
Full configuration for running turnkey consolidations

Automate consolidation operations :

  • Dynamic initialization of consolidation rates and methods
  • Dual processing in line with French accounting and IFRS standards
  • Numerous automatic consolidation entries
  • Full audit trail
  • Wide range of simulations for standards, rates, scopes
Avantages

Automatic journal entries
Full audit trail from company data to consolidated data
Flexibility as regards frequency and simulations

Publish and analyze consolidated accounts

  • Numerous standard reports available
  • Quick design of one-off Web analyses
  • One-click data audit
  • Simple and intuitive Excel add-in
  • Automatic customizable Excel and Word templates for financial statements
Avantages

Automatic publication
Instant consolidated data audit
Quick creation and distribution of customized analyses
Easy connection to MS Office applications such as Excel, Word, Power BI

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CONSOLIDATED REPORTING

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BUDGET PLANNING

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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 CRC 99-02). 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 ?

  1. Does the company have the required internal expertise to choose the new system?
  2. Will the structure of the Group undergo further developments?
  3. Should the management reporting aspect be integrated within the consolidation tool?
  4. Does the Group have specific characteristics?
  5. Is the Group ready to change its traditional processes?

To find out more about these questions: http://expert-consolidation.com/guide/01-cinq-questions-verite-a-se-poser-avant-de-choisir-un-nouvel-outil-de-consolidation/

+ - My Group only has to comply with legal requirements. What would be my main selection criteria ?

  1. To satisfy legal requirements fully, a full audit trail must be made available to statutory auditors.
  2. There should be a predefined configuration with user-friendly data entry and data retrieval functionalities.
  3. Intercompany transactions must be easily managed, reconciled and eliminated.

+ - My Group performs consolidation for management purposes. What would be my main selection criteria ?

  1. It should be a financial compromise between a standard basic tool and a customized tool with more advanced functionalities.
  2. You should choose a flexible tool capable of managing the scalability of your management reporting.
  3. Intercompany transactions must be easily managed, reconciled and eliminated.
  4. The solution should be able to accommodate the international expansion of your company.
  5. The tool must facilitate collaborative work with the implementation of workflows and advanced access rights management.
  6. 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 CNC 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
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