Benefits of automating financial consolidation
Close faster
Import data from your accounting systems. Consolidate instantly. There’s no need for a standard chart of accounts, allowing you to consolidate the moment your results are ready.
Always audit ready
Improve traceability with clear audit trails.
All FX rates are imported daily and converted in accordance with IFRS best practice.
Instant set up
Setup is done over zoom and takes just 1 hour. There is no need to spend days, weeks or even hours configuring the system.
Book an onboarding to try the system free for 7 days.
Compare actuals & forecasts
Track and compare results across budgets and forecasts.
Report by department or team across companies, countries, currencies, even systems.
Financial consolidation with any accounting system
The broadest range of accounting integrations available, allowing you to consolidate your financials in just a few clicks – across systems, currencies and countries.
Report by department, team or business unit
Multi-currency consolidation is a cinch with ScaleXP. Exchange rates are imported automatically and applied in accordance with IFRS standards. Each rate is stored to four significant digits, ensuring the highest degree of accuracy for each calculation.
With the data imported and consolidated, you can view performance across all businesses, including the parent company or any subsidiary, with instant drill down. It is as simple as one click.
Xero Tracking Codes and QuickBooks Classes can be integrated into your consolidation, making it easy to report by department, team or business unit. ScaleXP boosts the productivity of the finance team and makes it easier to close quickly, providing integrated and accurate data.
In fact, the system is so quick that you can even provide a mid-month revenue forecast in just a few clicks, should the boss ever ask!
Multi currency consolidation made easy
ScaleXP automatically imports foreign currency exchange rates and ensures that IFRS compliant rates are always used. Once consolidated, ‘drill down’ into the data with instant click-through, to understand anomalies and get answers quickly.
The system can provide FX rates with any currency in the world. Just click on your continent below for examples.
- American Dollars USD
- Canadian Dollars CAD
- Cayman Islands Dollars KYD
- Mexican Peso MXN
- Colombian Pesos COP
- Brazilian Real BRL
- Pound Sterling GBP
- Euro EUR
- Bulgarian Lev BGN
- Norwegian Krone NOK
- Bulgarian Lev BGN
- Norwegian Krone NOK
- Swiss Franc CHF
- Swedish Krona SEK
- Croatian Kuna HRK
- Danish Krone DKK
- Polish Zloty PLN
- Czech Koruna CZK
- Romanian Leu RON
- Gibraltar Pound GIP
- Turkish Lira TRY
- Moroccan Dirham MAD
- South African Rand SAR
- Egyptian Pound EGP
- Saudi Riyal SAR
- Jordanian Dinar JOD
- Omani Rehal OMR
- Libyan Dinar LYD
- UAE Dirham AED
- Bahraini Dinar BHD
- Kuwaiti Dinar KWD
- Israel New Shekel ILS
- Singapore Dollar SGD
- Taiwan New Dollar NTD/NWD
- Indian Rupees INR
- Hong Kong Dollar HKD
- Japanese Yen JPY
- Brunei Dollar BND
- Turkish Lira TRY
- Australian Dollars AUD
- New Zealand Dollar NZD
- Fijian Dollar FJD
Consolidated company KPIs & metrics
With ScaleXP, you can easily track financial and non-financial insights. All KPIs are available for the parent company or any subsidiary, instantly consolidated with drill down functionality.
Budgets and forecasts can be loaded into the system, either from your accounting system or from a spreadsheet or CSV.
Every metric is interactive, allowing you to click for further detail. This is designed to make it easy to understand the full calculation, even for the most complicated metrics.
Built-in presentations for consolidation
ScaleXP’s built-in presentation templates allow you to create sleek board or management account packs in less than 30 minutes!
Our presentations seamlessly integrate graphs, metrics and reports. Each time new data is imported to the system, the graphs and tables automatically update, across one entity or several.
This features is designed to ensure that all of the financial data can be used throughout the business, creating a single source of truth
Just add commentary and present!
And that’s not all; reports and presentations can be shared online, allowing your teams to use the interactive features.
Financial consolidation FAQs
Financial consolidation FAQs
Financial consolidation is the process of preparing a single set of accounts across multiple legal entities. For example, if a company has a trading subsidiary in the UK and one in the USA, the combined financials represent a consolidated view. These consolidated accounts are also called group accounts.
Please click on the link below for more detailed answers on consolidating your financials.