Whether you are operating an SME or MNC, you would definitely need to maintain accurate financial statements in order to achieve your business goals. However, managing and keeping a track of financial accounts manually seem to be frustrating. Therefore, one can make the use of financial statement software to carry out various financial activities like managing financial reporting, maintaining ledgers & more in a quick period of time.
How you can take advantage of various financial statement tools for your business?
When it comes to producing financial reports, this tool helps you update the business resources with the latest legislation changes in the line of businesses.
Moreover, financial statement software can enable you to save the cost and time associated with audits. Are you interested to know about the best financial statement software? If yes, continue reading.
Financial Statement Software
1. IFRS System
IFRS System has come to the market with a view to help you in making the most complex and challenging reporting scenarios easier. This financial statement software is suitable for both public and private companies no matter the size of the company. As a matter of fact, it has the ability to revolutionize the process of your statutory financial reporting. Certainly, the features of this software given below will make you understand regarding it quite clearly.
- IFRS System has seamless integration with Excel and World as it makes the financial reports easy to import from and export to Word and Excel.
- This financial statement software utilizes artificial intelligence to prepare financial reports with templates. In addition, it provides a more efficient and convenient method to create compliant and unique financial reports.
- In fact, it is very easy to use and can meet your business accounting needs and exceed your expectations with full dedication.
- Using IFRS System, you can produce as many financial reports as you want with no extra costs. Furthermore, it offers you a wide range of options to do most of the tasks with ease.
- The other features which you can find in this software involve automated cross checks and validations, point & click to create custom tables, automated or manual cash flow, disclosures support & capture tool inbuilt, accepts data from all common general ledgers, and many more.
IFRS System has three pricing packages including platinum, gold, and silver. See the other details of these packages just below.
- Platinum - This package comprises all Gold and Silver features with other features required for government or public company reporting. The annual price of this plan for one user is $7000 and it varies depending upon the number of users you have as a whole.
- Gold - The gold package costs $5000 annually for one user and the rate goes down as the number of users increases. This plan includes everything required to ensure compliance within New Zealand (NZ-IFRS, NZASB, and XRB), Australia (ASIC and AASB), and the United Kingdom & Ireland (FRS 101, FRS 102, FRS 104).
- Silver - This package offers primary notes and statements with IFRS (International Financial Reporting Standards). The annual cost of this package is $4000 for each user and the rate declines as the number of users increases.
Today, Insightsoftware is a helping hand of different organizations to deal with their dreadful financial accounts. It is quite true that this software not only renders standard ERP reporting procedures like multiple data dumps and countless hours manually manipulating data in static Excel spreadsheets but also produces ERP-centric real-time reporting, live data, and automation all in one flexible platform.
- Its feature of Hubble reporting speeds up operational and financial reporting. Not only this, but it also assists in automating and streamlining important financial processes like reconciliations, month-end, and consolidations.
- In this tool, you can use the Spreadsheet Writeback interface for JD Edwards and Oracle to quickly add your ERP data straight from Excel workbooks for intuitive data updating, data entry, and reporting.
- Insightsoftware has a great feature namely Intellicast which lets you share and create excellent visualizations of your operational and financial data from your ERP and other business systems.
- On top of that, it's budget accelerator makes it easy to create a budget by leveraging the familiarity of the Excel spreadsheet. With this feature, you can perform any budgeting function from inside Excel without any issues.
- Finally, it is about the feature Reports Wand which allows for operational analysis and reporting across all modules of SAP and Oracle E-Business Suite. Also, you can prepare highly customized reports with an easy-to-use Excel interface to meet the most complex requirements.
Do you want to know the pricing of Insightsoftware? You can directly contact the sales manager of the company to obtain the full pricing details or else you can simply request a free demo for a certain time period to get a little experience with this software.
3. Sage Intacct
Sage Intacct is one of the most effective accounting software that lets you do more accounting tasks in a better way and quick time. Most significantly, it can give powerful automation of multi-dimensional data analysis and complex processes. In addition, it offers you the features of advanced functionality and a flexible platform to integrate with other cloud services like ADP, Salesforce, and more. Find out more about this software below.
- Sage Intacct has the power to have a complete picture of your working capital and cash footprint. In fact, it can track your payments, balances, and financial transactions across multiple accounts.
- More importantly, it helps you to handle non-routine transactions like gathering missing information, clarifying policies, resolving exceptions, etc. quickly and efficiently with Sage Intacct Collaborate.
- When it is all about order processing or order management, this software can automate the order management cycle and closes the communication gaps even for the most complicated cash sales order processing.
- In spite of the above features, this tool also provides you with the most complete financial reporting system you need for all aspects of your business along with key metrics including channel, business driver, product, entity, etc.
- Above all, it gives you the best general ledger system to manage, store, and balance the transactions and data that rule your company’s finances. With this feature, you can experience great flexibility while managing your organizational finances.
This company asks you to request a price quote to know the exact details of pricing packages. As you subscribe, you will get open to upgrades, 24/7 operations, and award-winning US-based support. However, Sage Intacct is only applicable to devices like PC, iPad, Mac, Android phone, or tablet.