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Eliminate intercompany transactions and balances for a consolidated financial view. Our platform integrates with multi-entity accounting software and acts as comprehensive financial consolidation software.
Provides a more detailed view of the performance of specific areas of the group.
Any intercompany loans or balances between the parent and subsidiaries are disclosed in the notes to the consolidated financial statements, even though they are eliminated in the actual financial reports.
Considers the tax implications across the entire group, including potential deferred taxes arising from temporary differences between financial reporting and tax bases.
Consolidated reports reflect the ownership structure of the parent company and its subsidiaries along with controlling interest overall financial results.
Integrating data from various systems provides a comprehensive view of financial transactions, facilitating accurate analysis and book closing.
Centralizing transactional data allows for parallel financial closes across multiple entities, enhancing efficiency and reducing bottlenecks.
Identify subsidiary entities that need to be included in the consolidation process.
Standardize reporting periods across all consolidated entities to ensure consistency.
Convert foreign currency transactions into the parent entity's functional currency using the appropriate exchange rate.
Aggregate accounts & line items across all entities to provide a unified financial view.
Generate intercompany dashboards to present the group's financials as a single entity.
Consolidated reporting combines data from different entities, offering a comprehensive snapshot of the entire organization.
Employs advanced data cleansing and validation techniques, significantly reducing errors and ensuring reliable reports.
Automating the consolidation process reduces time spent on manual data gathering and reconciliation.
It streamlines compliance by providing a clear, auditable trail for regulatory reporting, simplifying the audit process and ensuring adherence to standards like IFRS or GAAP.
Book a personalized demo to discover how our solution can benefit your organization.
It is the process of combining financial data from different entities into a single, unified report. These reports present the financial performance and position of a group of companies as though they are one entity, typically the parent company and its subsidiaries.
Taxilla's consolidation reporting offers several unique features that make it stand out in the regulatory technology space including end-to-end automation, real-time data processing, customizable reporting and reconciliations, sophisticated tech-infrastructure for enhanced security and compliances.
Consolidation reporting is crucial for businesses with multiple entities for holistic financial view, informed decision making, to eliminate double counting of revenue and expenses and more importantly to bring consolidated view to the stakeholders and regulatory reporting.