Benchmarking of Results for branches or franchisees

The accountsIQ consolidation module can be used to produce Group consolidated accounts or consolidating results from multiple entities (branches, depots, franchisees etc) into a single database for analysis, benchmarking and reporting.

Each entity’s (subsidiary/branch//franchisee) own results and accounts remain unaffected by the consolidation as the details will be uploaded/synchronized into one consolidated database and consolidation adjustments can be made at that level.

accountsIQ’s Consolidation module has the following features:

• Actual, budget and revised budget details are maintained for each entity by period by year. A full history going back 5 or more years can be maintained for comparison purposes and trend analysis
• Subsidiaries entities can operate in their own base currency. Results are translated into the base currency of the Consolidation entity based on user defined exchange rates for each period. This allows for groups or franchises with entities in different jurisdictions or who plan to expand into other currency jurisdictions.
• Currency differences resulting from currency rate movements are calculated and posted automatically to a user defined Conversion Currency Reserves account Consolidation adjustment journals can be posted to the consolidation database that do not affect the underlying results of the subsidiary accounts. These can be used to eliminate inter-company profits etc.
• Cancellation of inter-company balances can happen automatically by proper design of the GL coding structure in each subsidiary. Reports allowing reconciliation of these accounts can also be produced.
• Non-financial statistics held at subsidiary/franchisee level will also be consolidated up allowing production of KPIs based on both financial and non-financial results for benchmarking across the group or franchise
• Sales and Purchase analysis by customer/supplier and product can also be consolidated for groupwide or franchise wide sales reporting or negotiation of pricing with preferred suppliers
• A group dashboard with graphs and KPIs based on group results can produced as well as benchmarking graphs and KPIs at the individual subsidiary/franchisee/branch level.