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Consolidation accounting software for easy multi-currency and multi-entity financials

Financial consolidation and reporting software simplifies your multi-entity and multi-currency consolidation challenges. Gain real-time insights to seamlessly manage local and global entities. Increase accuracy and effortlessly manage multi-currency fluctuations with customized financial consolidation tools.

The benefits of smart financial consolidation software

Manage your global finances with multi-company accounting software. Our multi-currency and multi-entity features make it easier and faster to consolidate global, domestic, and partial ownership business entities, helping your organization to handle complex accounting tasks. See everything clearly with real-time data and adaptable reports to fully understand your financials.

More actions Done Duplicate Edit Book Setup Book information Entities to consolidate Journals Accounts to override Elimination accounts Multi-currency Currency GBP Currency exchange gain/loss 
account on Net income 3600 Ending spot rate Translation method for 
Balance sheet accounts Exchange rate table lntacct Daily Rate Net assets 3600 Weighted average rate Income statement accounts General information Book name CUUK Accounting method Accrual CUUK__SJ Statistical journal symbol Description UK Consolidation Default department CUUK statistical journal Statistical journal name Book status Active Budget

Simplify complex global consolidations

Our multi-currency accounting software simplifies global consolidation by dealing with transactions and converting financial data into a unified currency accurately. See your international operations clearly and make your consolidation process easier.

Increase visibility with flexible domestic and global reports and real-time data

If you have multiple entities, it can be hard to see your financial data clearly and decide what is best for your business. Our consolidation accounting software lets you see real-time insights with adaptable reports for local and global markets. Use the real-time data to see your whole organization as one, and make strategic decisions with confidence.
Account Posted date Description Entity Currency Txn amt Debit (USD) Credit (USD) 1312 - Inter-entity Receivable 1801 - Investment in Subsidiary 2105 - Inter-entity Payable 3301 - Contributed Capital 3601 - Elim Variance 3601 - Elim Variance 3601 - Elim Variance 3700 - Non-controlling Interest Equity 8900 - Net Income Attributable to NCI 1/31/24 1/31/24 1/31/24 1/31/24 1/31/24 1/31/24 1/31/24 1/31/24 1/31/24 Auto-elimination Auto-elimination Auto-elimination Auto-elimination Auto-elim: Adjustment for entity E_200 Auto-elim: Adjustment for entity E_201 Auto-elim: Adjustment for entity E_202 Income attributed to NCI for entity E_201 Income attributed to NCI for entity E_201 Elimination Elimination Elimination Elimination Elimination Elimination Elimination Elimination Elimination USD USD USD USD USD USD USD USD USD 5,000.00 150,000.00 5,000.00 150,000.00 150,000.00 155,000.00 155,000.00 55,000.00 100,000.00 20,000.00 20,000.00 20,000.00 330,000.00 5,000.00 150,000.00 5,000.00 55,000.00 100,000.00 20,000.00 330,000.00 Journal Entry
Consolidate Global Apr 2024 Ownership percent 100 100 80 100 100 75 40 100 100 100 90 60 100 100 100 100 Ending spot rate 1.0000 0.7972 1.0000 1.0000 1.0000 1.0000 0.8406 0.8406 1.0000 1.0000 0.7822 1.0000 1.0000 1.0000 1.0000 1.0000 Ending spot rate 1.0000 0.7914 1.0000 1.0000 1.0000 1.0000 0.8364 0.8364 1.0000 1.0000 0.7930 1.0000 1.0000 1.0000 1.0000 1.0000 Entity Cubit Group [Parent] (GBP) Cubit UK Holding (GBP) Cubit NA Holding (USD) Elimination Entity GBP [Elimination] (GBP) Cubit UK Holding [Parent] (GBP) Cubit UK (GBP) Cubit IRE (EUR) E106 EUR (EUR/ Elimination Entity GBP [Elimination] (GBP) Cubit NA Holding [Parent] (USD) CUBIT Canada (CAD) CUBIT USA (USD) Elimination Entity [Elimination] (USD) CUBIT Canada [Parent] (CAD) CA1 (CAD) Elimination Entity CAD [Elimination] (CAD) Level 1 2 2 3 Book CUGroup (GBP) CUGroup (GBP) CUGroup (GBP) CUGroup (GBP) CUUK (GBP) CUUK (GBP) CUUK (GBP) CUUK (GBP) CUUK (GBP) CUNA (USD) CUNA (USD) CUNA (USD) CUNA (USD) CUCA (CAD) CUCA (CAD) CUCA (CAD)

Speed up month-end close, reduce errors, and save time

Manual financial consolidation can be tedious, leading to time-consuming month-end closes and slowing down your team's work. Our software makes it easier by automating tasks and reducing manual errors. You can close the month faster and more accurately with centralized financial data, and give your team more time for higher-level analysis.

Customize tools to meet your needs

Every organization has unique consolidation requirements. Our flexible financial consolidation tools help you to easily customize reports and analyze data based on your needs. Consolidate financial statements from all your entities within a single, user-friendly platform.
Consolidated Balance Sheet Entity 200
Month Ending 01/31/2024 Entity 201
Month Ending 01/31/2024 Elimination
Month Ending 01/31/2024 All Locations
Month Ending 01/31/2024 152,000.00 167,500.00 0.00 319,500.00 5,000.00 0.00 (5,000.00) 0.00 157,000.00 167,500.00 (5,000.00) 319,500.00 50,000.00 0.00 (50,000.00) 0.00 207,000.00 167,500.00 (55,000.00) 319,500.00 7,000.00 5,000.00 (5,000.00) 7,000.00 0.00 0.00 20,000.00 20,000.00 5,000.00 12,500.00 0.00 17,500.00 95,000.00 50,000.00 (50,000.00) 95,000.00 200,000.00 100,000.00 (20,000.00) 280,000.00 300,000.00 162,500.00 (150,000.00) 312,000.00 307,000.00 167,500.00 (155,000.00) 319,500.00 Total Assets Total Liabilities and Equity Assets Current Assets Liabilities Stockholders Equity Capital Stock Common Stock Net Income (Loss) Total Stockholders Equity Cash and Cash Equivalents Intercompany Receivable Total Current Assets Investments Liabilities and Equity

Explore our consolidation accounting software

Our financial consolidation software empowers you to manage your international business efficiently. Explore our scalable solutions and find the perfect fit for your unique needs.
 Sage Intacct

Sage Intacct

The smart cloud accounting and ERP solution to unleash the potential of your business. Learn why industry leaders choose Sage Intacct.

 

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Across all industries, Sage Intacct customers achieve an average of:

  • 250% ROI
  • 6 months payback
  • 79% close time reduction
  • 65% productivity improvement

Rated #1 in customer satisfaction by G2.

Sage X3

A complete business management solution tailored to the demanding mid-sized business user.

 

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Ideal for global companies in the manufacturing, distribution, chemicals, and services industries. 

  • Take control of global operations
  • Get the insight you need, when you need it
  • Expand to new markets or geographies
  • Gain agility and focus on your business

 

Heather Norum

Director of Accounting, VelocityEHS

"At first, our CFO was spending five painful days each month doing currency exchange calculations because no one else had bandwidth. But now, our global consolidations can be completed across five different currencies in a few short minutes with the push of a button in Sage Intacct."

Financial consolidation and multi-currency accounting FAQs

Financial consolidation software streamlines and automates the process of combining financial data from your entire organization, regardless of location or currency. It provides a single, unified view of your finances, replacing the time-consuming task of manually compiling information from multiple entities.

Here's how it tackles the challenges of multi-entity and multi-currency accounting:

  • Multi-entity accounting: This software is built to handle the intricacies of managing multiple businesses or subsidiaries. It seamlessly integrates financial data from each entity, ensuring a consolidated view that reflects the overall performance of your entire organization.
  • Multi-currency accounting: Financial consolidation software automates currency conversions and exchange rate processes, ensuring accurate translations and eliminating the risk of errors in your consolidated reports.

Financial consolidation software tackles the multi-entity, multi-currency challenge by automating data collection from various sources within your organization.

It offers a central platform for collaboration, simplifying communication and task management across teams and entities. Multi-entity accounting software lets you create customizable consolidated financial statements that meet your specific reporting needs, often with drill-down capabilities for deeper analysis.

Yes, consolidation accounting software is specifically designed to handle multiple entities and subsidiaries.

Consolidation accounting software centralizes financial data from different entities, departments, and subsidiaries in one location. This means local and global multi-entity businesses can manage financial consolidation and multi-currency accounting efficiently.

The software can manage transactions in multiple currencies and quickly convert financial data to one currency for easier reporting.

Sage cloud-based financial consolidation and reporting software streamlines the process of combining financial data from across your entire organization, regardless of location or subsidiary. It offers the following benefits for businesses:

  • Effortless accessibility, real-time visibility: With a Sage cloud solution, you can access your most up-to-date financial information anywhere and anytime. This empowers your team to collaborate seamlessly and make data-driven decisions faster, whether in the office, remotely, or traveling.
  • Unleash the power of real-time data: Gain a real-time pulse on your organization's finances. Sage's cloud-based software delivers constantly updated data, providing a clear and accurate picture of your overall performance. This fosters proactive business strategies and allows you to react swiftly to financial changes.
  • Seamless collaboration across teams and locations: It provides centralized financial data consolidation, streamlining communication and task management between teams, regardless of location.
  • Empower smarter decisions with flexible reporting: Sage cloud-based solution offers a robust reporting suite to generate customizable consolidated financial statements tailored to your needs.

Wisdom for smarter business

Read our blog and get articles, insights, and tips for your business. Explore our consolidation accounting software to unify your finances.

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Ready to learn more about what Sage accounting and financial consolidation software can do for your business? Our product experts are here to guide you every step of the way.