Currency consolidation for QuickBooks
Foreign currency translation, or multi-currency consolidation, is the process of converting a range of finances in different money systems into a single form of currency.
Information from all the different operating entities must be available in one place for consolidation. You also need to track appropriate foreign exchange rates for different points in time and different currency combinations using different rules for different accounts and time periods.
The easiest way to consolidate across multiple entities in different currencies is to use specialist software that can automatically apply all the appropriate IFRS rules while giving you traceability and flexibility. ScaleXP is an excellent and cost effective solution for efficiently consolidating divisions across countries and/or business entities.
Multi-entity consolidation for QuickBooks
ScaleXP can consolidate data from any QuickBooks entity, including QuickBooks Online and QuickBooks Desktop. Data is imported daily through an automated sync process.
With the data imported, ScaleXP does all the hard work for you, speeding up the close and freeing up your time for analysing and presenting the information in the way that suits you best.
ScaleXPs' multi-currency software
Benefits of QuickBooks consolidation with ScaleXP
Always up to date
You can chose to auto-sync data, daily, or click to sync now. Updating the data across multiple entities takes less than a minute.
Easy set up process
Consolidate accounts across all your companies to create a single view of multiple companies and countries.
Track key metrics across legal entities
Number of customers, revenue upgrades, downgrades, recurring revenue, revenue per customer and so much more are presented in reports or graphs and are easy to share with the business.
All ScaleXP customers are onboarded over a one-hour Zoom call, which ensures you get value from the system immediately. At the end of the hour, your financials and key metrics will be consolidated.
Company consolidation, even multi-currency consolidation, is so much easier and faster using ScaleXP. ScaleXP does all the tedious work for you, freeing up your time for more valuable tasks, and analysis of the information.