Software for financial consolidation and group controlling
With LucaNet’s financial consolidation software, you’ll not only save a lot of time thanks to maximum automation; you’ll also be using an audited system that will guide you through the entire process of preparing consolidated financial statements.
LucaNet represents the top level of expertise in consolidated financial statement preparation. The outstanding professional elements are mirrored by our consolidation solution, which was developed from the outset by professionals, for professionals.
Standout features of our software for financial consolidation
- Reliable representation of simultaneous and step consolidation
- Completely automated procedures across all consolidation steps and group structures of any depth
- System-supported quality assurance
- Continuous workflow support
- Matrix consolidation (consolidation of segments, business units, regions etc.)
- 1:1 application of the consolidation routine used for consolidation of planning
- Presentation of changes within the scope of consolidation
- Simultaneous presentation of accounting standards
- Foreign and group currencies
- Presentation of all group analyses and the consolidated cash flow statement
- Disclosures
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How LucaNet makes your financial consolidation easier
Consolidated financial statements with confidence
- Easy setup and definition of the relevant consolidation areas, including subgroups, segments, and so on
- Simple maintenance and setup of account structures by the professional user (P&L, balance sheet, cash flow, schedule, etc.)
- Direct access to the source system/financial accounting (200 preconfigured interfaces, e.g. SAP, MS Dynamics Navision, Sage, Diamant, proALPHA, Datev etc.)
- System-side, freely configurable validation of the transferred data
- Enrichment of data with missing information (disclosures, IC data, transaction types for schedules, etc.)
- System-supported intercompany reconciliation on the transaction currency level
- Status monitor for overseeing the process
- System-supported currency translation in accordance with all common processes
- Automatic presentation of all delta currency effects
- Retrieval of exchange rates from the European Central Bank (ECB)
- Display of historical exchange rates
- Posting focus means straightforward collection of reconciliation postings (under group accounting policies, IFRS, US GAAP etc.)
- Simultaneous presentation of P&L and balance sheet structures
- System-supported validation of all postings generated
- Seamless documentation by means of a change log
- Completely automated consolidation run across all consolidation steps (equity elimination, elimination of intercompany debt, income and expense, elimination of intercompany profit and loss) and across group structures of any depth (legal consolidation, consolidation by segments etc.)
- System-supported status reports for quality assurance
- Automatic generation of reports
- Print-ready annual report preparation with SmartNotes
Only LucaNet simplifies complexity
- Several types of accounting standards can be presented at the same time. As a result, consolidation can take place in accordance with HGB (German Commercial Code) and IFRS standards, for example.
- Adjustment levels can be used to record any kind of adjustment entry (transition from the subsidiaries’ local GAAP to the parent company’s group GAAP; transition from HGB to IFRS, etc.).
- Structures can be adjusted directly by the user.
- New elements can be created using a simple right-click of the mouse; the elements can be defined in multiple languages.
- Any structures and hierarchies can be created simultaneously.
- All consolidation steps – whether legal or management consolidation, actual or planning consolidation – can be included and carried out within one consolidation run.
- Appropriate apps are available for all consolidation steps and will automatically generate the consolidation postings.
- Currency conversion based on the modified current rate method
- Exchange rates can easily be retrieved directly from the European Central Bank (ECB).
- You can also save historical exchange rates.
- All currency effects are automatically shown in the entire data model (incl. cash flow statement and analysis).
The drill-down allows for deeper insights into the data from the group level, to the company, right through to the cost centre and posting level in the financial warehouse. It is even possible to access scanned documents from the document management system (DMS), with all data retrievable straight from LucaNet.
