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Advanced Automated Consolidation 🚀- Emfino Super Feature #1

Updated: Aug 28


Emfino consolidation feature is advanced and distinctive - it performs automated and rule-based elimination and adjustment entries not only by accounts from the Group Chart of Accounts (Group COA) but also by financial DIMENSIONS!


This super feature allows you to view CONSOLIDATED results in ANY report! You can analyze product results, department performance, and project profitability at the Consolidated level!


Advanced Automated Consolidation 🚀- Emfino Super Feature #1
Advanced Automated Consolidation 🚀- Emfino Super Feature #1

Advantages of Emfino Consolidation feature:


1) Easy setup of several consolidations

It is straightforward to set up several consolidations in the system. One consolidation might be for management purposes, another - representing legal structure for regulatory reporting, and third - to see consolidated results of one country.


2) Entries by account numbers and financial dimensions 

Consolidation entries contain the account numbers and dimensions (if applicable), ensuring the possibility of getting any reports, including product profitability, at the consolidated level.


3) Automated elimination entries

The client customizes the account selection for automated elimination in the Group COA.


4) Rule or formula-based adjustment entries

For example, you can create a formula to eliminate an unrealized profit from selling a fixed asset to another Group company. The system will calculate the adjustment entries automatically each month, removing the unrealized profit from fixed assets, accumulated depreciation and depreciation in the P&L. Formulas may help with monthly Minority / Non-controlling interest adjustments.


5) Manual consolidation adjustment entries

No worries. If necessary, manual adjustment entries are always an option.


6) Drill downs to transaction level in consolidated reports

The drill-downs in the consolidated reports contain both the original transactions and the consolidation elimination/adjustment entries.


7) Merging of Partner names' aliases

The same legal entity may have several variations of its name, mainly when data are imported from different countries. The system allows merging several names of the same partner under ONE Partner name. Thus, the system knows all possible variations of partner names and includes all name options in the intra-group checks and consolidation.


8) User-friendly intra-group reconciliation of transactions and balances

Accountants and controllers appreciate that they can see detailed intra-group transactions and balances not only for the legal entity they are responsible for (Legal entity A), but also the transactions and balances the corresponding legal entity has booked towards their entity A.


9) Intra-group reconciliation in original currencies

The intra-group reconciliation is performed in original currencies to avoid any foreign currency translation effects. If a legal entity has issued a loan in PLN currency, reconciliation is performed in PLN.


10) Advanced foreign currency translation

The system ensures very advanced and customizable foreign currency translation to reporting currency at the transaction level. See more "Multi-Currency Translation in Reporting and Consolidation 🚀- Emfino Super Feature #3".




Examples of Advanced Automated Consolidation in Emfino DEMO System



  • Defining consolidations


Emfino Demo - Defining consolidations
1) Emfino Demo: Defining consolidations
Emfino Demo: Defining legal entities within consolidation 'COAST GROUP'
2) Emfino Demo: Defining legal entities within consolidation 'COAST GROUP'

  • Intra-group reconciliation


Emfino Demo: Intra group transaction check
3) Emfino Demo: Intra-group transaction check
Emfino Demo: The faulty transaction identified with Intra group tx check
4) Emfino Demo: The faulty transaction identified with Intra group tx check
Emfino Demo: Intra-group balances check
5) Emfino Demo: Intra-group balances check

  • Defining aliases of Partner names


Emfino Demo: Defining alternative Partner names
6) Emfino Demo: Defining alternative Partner names

  • Balance splits by Partners


Emfino Demo: Balance splits by Partners calculated by the system and used in consolidation
7) Emfino Demo: Balance splits by Partners calculated by the system and used in consolidation

  • Consolidation report


Emfino Demo: A screenshot from the consolidation report, illustrating automated eliminations along with additionally defined bookings
8) Emfino Demo: A screenshot from the consolidation report, illustrating automated eliminations along with additionally defined bookings

  • Consolidated P&L report by dimensions


Emfino Demo: Consolidated P&L report by dimensions
9) Emfino Demo: Consolidated P&L report by dimensions

  • Automated elimination bookings by accounts and dimensions for positions "Loan interest expense" and "Marketing / Selling expense" in consolidated P&L report


Emfino Demo: Automated consolidation elimination bookings by accounts and dimensions - 'Loan interest expense'
10) Emfino Demo: Automated consolidation elimination bookings by accounts and dimensions - 'Loan interest expense'
Emfino Demo: Automated consolidation elimination bookings by accounts and dimensions - 'Marketing/Selling expense'
11) Emfino Demo: Automated consolidation elimination bookings by accounts and dimensions - 'Marketing/Selling expense'


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