Consolidating finance

14-Dec-2019 10:04

In a large enterprise, the financial consolidation process is typically handled by the Accounting department, which is under the supervision of the Controller or VP of Accounting/Reporting, and ultimately overseen by the Chief Financial Officer (CFO).While financial consolidation was done manually for many years, in today’s world there are several types of software tools used to support financial consolidation and reporting.In finance and accounting, consolidation has more specific nuance.Consolidation involves taking multiple accounts or businesses and combining the information into a single point.

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A type of merger in which two or more companies create an entirely new corporate entity and transfer all their assets and liabilities to the new entity.Bring together complex data from multiple Quick Books and Xero accounts to seamlessly create consolidated financial reports.