Financial consolidation can be challenging—riddled with complexities across multiple legal entities, account structures, intercompany eliminations, currency translations, and disparate and changing regulatory requirements. With Anaplan, you can speed intercompany financial reconciliations and period end–close with a single platform that connects across your budgeting, planning, and forecasting process, all while complying with IFRS and GAAP standards.
Benefits
One point system for financial consolidation
Built-in inter company matching
Rule-based automatic consolidation
Configuration of core dimensions
Multi-entity and multi-account
Forecast critical information of management
Features
Complete financial consolidation solution
- A unified single cloud solution across planning, budgeting, and financial consolidation
- Includes all standard consolidation entries—intercompany eliminations, goodwill recognition, investments elimination, consolidated reserves
- The real-time data platform instantly updates status of the consolidation, no batch wait times
- User-owned controls, audit trail, and workflow
- Pre-configured data model, data entry forms, controls, business rules, and consolidation reports
- Supports multiple entity, account structures, consolidation versions, and currencies
- Manages and reconciles IFRS, U.S. GAAP, and any other GAAP
- Rule-based consolidation process automates recurring consolidation entries
- Ability to manage balance sheet movements, automating calculation of consolidated cash flow
- Allows local subsidiaries to speed close process following geo-specific controls and procedures
- Track and collaborate across all stages of consolidation and close with workflow and alerts
- Automated import and mapping functionalities
- Pre-built, easily configurable chart of accounts with account rollup to financial statement totals
- Pre-built list of movements and assignments to balance sheet accounts
- Data-collection status dashboard tracks level of completion entity by entity
- Pre-built entry forms to load trial balance data, intercompany amounts, and input movement flows in the balance sheet
- Pre-configured controls and controls reports
- Peer-to-peer intercompany elimination and reconciliation: balance and transactional levels
- Reconcile intercompany amounts in group currency and functional currency of the entity
Consolidation and journals
- Local or group-level journal adjustment capabilities
- Consolidate at multiple organizational levels in a simple consolidation run
- Manage full integration, joint venture, partial ownership, and equity accounting methods
- Goodwill calculation based on investment register
- Entity valuations based on consolidated data
- Group consolidation status dashboard to monitor the overall consolidation process for each entity
- Unlimited consolidation processes and reporting— statutory, management, regional, tax
- Pre-built financial statements: balance sheet, income statement, cash flow, change in equity
- Audit reports for analysis and validation at consolidated level for currency translation, journal adjustments, and consistency of data
- Analysis reports with drill-down from consolidated results to contribution by entity or audit IDs
- Centrally managed exchange rates and automatic calculation of exchange rate differences
- Convert different balances at different rates: opening balance, movement, end balance, spot
- Convert financial statements submitted in local currency to group/functional/reporting currency
- Automate cumulative translation adjustment (CTA) calculation in consolidated reserves.
- Audit trail of corrected data journal adjustments
- History report of data edits: what, when, who
- Connect with any upstream system to bring in and push back consolidation data • One common Anaplan platform for integration with apps and processes across the business
- Integration with Microsoft Office Excel®, Word®, and PowerPoint®—share financial consolidation results via workbook, slides, or board book documents
