In today’s business world, it’s common practice for larger organizations to purchase and merge with smaller ones, and for competitors to find they’re now working for the same company, but a CFO may find it difficult to see the full financial picture when data is in different systems and softwares. The great news is that with the latest update of Macola 10, you can pull financial data outside of the Macola software, work across divisions, and see a full view of the business financials.
Financial Consolidation and Accounting for Manufacturing
In Macola 10.4, the latest version of Exact Macola ERP, they introduced the Financial Consolidation module, that allows general ledgers to be mapped from subsidiary to parent divisions and rolled up multiple levels. You can also eliminate entries to be performed through the system rather than in external spreadsheets. Plus, it supports intercompany transactions between divisions and importing financials from non-Macola software systems.
Macola 10.4 Financial Consolidation and Accounting Highlights
Here’s a few highlights and screenshots that Exact Software provided to show you the Financial Consolidation module:
- An example of what the consolidation structure may look like. In this example there are two subsidiaries per geographic division, and those geographic divisions flow up into the main holding company:
- You can establish a percentage of ownership, manage shares of stock, and the value of the stock:
- Here’s an example of the presentation currency can be translated to display P&L and B/S in multiple currencies and convert division currencies to one standard reporting currency:
- Below is a sample balance sheet in the 10.4 release:
- Simple interface for importing financial transactions from non-Macola companies:
Watch the short 1-minute video on the Financial Consolidation update:
Considering Exact Macola ERP for your manufacturing business? Have several divisions that you need financial consolidation? We can help! Contact us to review your needs and give a custom demo based on your requirements.