Use your power right for financial consolidation and avoid doing the heavy lifting yourself!
Konsolidator is an application you connect to your ERP system (Microsoft Dynamics 365 Business Central) to import your financial data and automate the full consolidation in a standardized format that ensures your numbers are always accurate, free of errors, and easy to retrieve. Konsolidator is the smarter way to consolidate. Speed up reporting and ensure compliance with local GAAP and IFRS requirements.
Excel spreadsheets are great for many things but not for financial consolidation and audit trails! If you are using Excel, you're making consolidation far more complex than it has to be. In addition, you lose valuable time on collecting data, making calculations, updating links, handling elimination entries, and doing currency conversions across companies.
With Konsolidator, you can:
- Automate consolidation of actual, budget, and forecast numbers
- Automate intercompany elimination and non-controlling interest
- Get a financial data warehouse
- Consolidated cash flow statement
- Subgroup consolidation
- Shorten the reporting cycle
Your ERP system is typically characterized as an aggregation tool rather than a consolidation solution. Therefore, ERP aggregation is typically sufficient for simple consolidation, but not for more complex consolidation or larger companies.
ERP systems typically cannot (but Konsolidator can):
- Adjust the equity for exchange rate differences
- Calculate exchange rate adjustments on fixed assets
- Perform automatic intercompany elimination based on counterparties, sub-groups, and dimensions
- Perform automatic calculations and postings of non-controlling interests
- Calculate and eliminate investments in subsidiaries automatically
- Prepare consolidated cash flow for groups and sub-groups
- Consolidate KPIs properly
- Prepare a consolidation on legal structure as well as management structure or handle organic growth through company acquisitions or FX impact in relation to budget (Multiple Group Structure)
- Deliver a correct consolidation of budget and forecast including intercompany elimination, cashflow, and dimensions
- Create an audit trail that can be presented to auditors
- Have multiple group accountsIMPORTANT
: Please note that you need a subscription to Konsolidator to integrate your data.
Supported editions: This app supports both the Essential and Premium editions of Microsoft Dynamics 365 Business Central.
Supported countries: All countries and regions where Dynamics 365 Business Central is available.
Supported languages: The app is available in English (United States)