FlexiEPM effectively streamlines the intercompany reconciliation process. Automate intercompany reconciliations to ensure consistency and completeness in the elimination of intercompany transactions.
Forget about time-consuming manual explanations of intercompany balance discrepancies. FlexiEPM enhances the quality of financial reporting, ensuring process stability and repeatability.
FlexiEPM brings a new level of quality to consolidation and group reporting, delivering clarity and confidence at every stage of the intercompany reconciliation process. Automation eliminates settlements between subsidiaries, ensuring data transparency and consistency.
The tool supports monthly, quarterly, and annual reporting cycles, enabling faster identification and resolution of differences arising from intercompany balances. It also generates a complete audit trail that confirms data accuracy and compliance, significantly streamlining the preparation of consolidated financial statements.
FlexiEPM provides a solid foundation for a modern finance organization, allowing CFOs to scale reporting processes without additional resources or headcount. The system adapts to new challenges such as company acquisitions or an increased volume of intercompany transactions, supporting your organization’s growth.
The software is designed for capital groups and independent business units. It is an essential tool for organizations with multiple autonomous entities that regularly engage in various intercompany transactions.
The effectiveness of the system increases with the number of entities subject to consolidation, the complexity of organizational structures, and operations spread across multiple geographic locations. FlexiEPM is ideal for capital groups that have foreign companies using different financial and accounting systems, allowing for centralised data management and consolidation.
The software is also indispensable for companies with decentralized trading of goods and services, where entities cooperate directly, bypassing the parent company. The system ensures transparency and accuracy in financial reporting, supporting the management of complex processes within the group.
The reconciliation of intercompany balances is the foundation of accurate financial reporting for capital groups. In consolidated financial statements, every balance and transaction must be properly recorded and confirmed by the entities involved. Any deficiencies in this process can lead to errors in the presentation of the Group’s financial results.
FlexiEPM integrates the intercompany reconciliation process into the regular monthly reporting cycle. The system enables ongoing identification and explanation of discrepancies, allowing quick corrections in both local accounting records and the Group’s consolidated reports.
Using FlexiEPM significantly reduces the time and pressure associated with reconciling a large volume of transactions. The system supports timely financial closings and efficient management of complex financial processes within the Group.
The reconciliation process begins with the automatic import of outstanding intercompany documents from the accounting systems of the Group’s entities. Open balances of receivables and payables are imported as detailed records from the respective subledgers. For smaller subsidiaries, closed ERP systems, or outsourced accounting functions, data can be imported using Excel templates. The import process is fully automated, ensuring consistency and saving time.
Each document is assigned to the appropriate transaction category based on the mapping of local charts of accounts. With flexible functionality for defining transaction types, the system allows classification aligned with the Group’s business processes. This ensures consistency with financial reporting structures and streamlines the reconciliation process.
The system automatically matches documents based on predefined rules such as matching document numbers, dates, or values. At the level of open balances in the reporting currency, FX differences are detected, and the system generates entries in the reconciliation log. Automation covers 90–95% of intercompany transactions, leaving only a few complex cases to be reviewed manually.
The remaining discrepancies — such as unmatched payments, goods in transit, or inconsistent postings — are analyzed by local accounting teams and group controllers. The system supports recording of adjustments and allows differences to be reflected either as consolidation eliminations or local accounting corrections. This ensures that the reconciliation process is precise, efficient, and fully compliant with financial reporting requirements.
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In this post we will answer some common questions on how to recognize and manage lease and perpetual usufruct arrangements to ensure compliance with IFRS 16. We will explain the steps involved in the valuation of assets and liabilities for different types of contracts.
The adaptation of IFRS as an accounting standard affects the presentation of values in financial statements, especially in the context of leasing and rental under IFRS16.
The article examines these changes, showing how this standard modifies the balance sheet, profit, and loss statement and cash flow statement, highlighting key differences and new challenges in financial reporting.
IFRS accounting – scenarios If you want to make sure that your lease contracts are valued in compliance with IFRS 16, you have several alternatives. Here are
Streamline your planning, controlling, reporting, and consolidation processes in a single system.
Eliminate errors and reduce time-consuming tasks through integration and automation.
