BOARD software integrates its Toolkit Approach with BOARD FC, a packaged system solution that enables companies to perform both legal and management consolidation, providing a deep insight into financial and operational results. BOARD FC addresses the challenges that multi-entity organizations face today with intercompany reconciliations, consolidation adjustments and group reporting. Turn-key functionality merges data from different locations and across multiple general ledgers, performing multi-currency conversions and eliminating time consuming and non compliant spreadsheet based processes.
A Workflow Control Panel makes it easy to monitor, reporting and manage the financial consolidation system process across the whole enterprise, reporting and highlighting the operations status and certifying internal controls.
Legal and management multi-level financial consolidation of complex group structures, with automation of:
- Currency conversion with exchange rate difference calculatio
- Investments (Holding company) / Equity (Subsidiaries)
- Intercompany transactions (receivables/payables, expenses/revenues)
- Dividends elimination
- Elimination of I/C mark-up on inventory
- Write off / revaluation on investments
- Consolidation difference allocation (goodwill / badwill)
- Calculation of Group and Minority interests
- Calculation of changes in consolidation scope
- Creation and comparison of unlimited scenarios (Actual, Budget, Forecast, etc.)
- Multiple and customizable closing periods (Year, Quarter, Month, etc.)
- Journal entries at company and group level