Today, we have released the following two new features:
- Joint operations with proportionate consolidation
You can now add Joint operations to your group structure, and Konsolidator will automatically apply the proportionate consolidation method in line with IFRS. - Cash-flow report - now directly in Konsolidator
You can now access and drill down into your cash-flow reports directly from within Konsolidator
Joint operations
As a great addition, Konsolidator releases Joint operations for users who have a joint arrangement and gives groups the possibility of proportionate consolidation.
What is a joint operation?
If you have companies with shared ownership and control “Joint operation”, you need to use the accounting method proportionate consolidation, which shares assets and obligations line by line.
|
Feature |
Joint Operation |
|
Control |
The parties share control. |
|
Ownership |
The parties have rights to the assets and obligations of the arrangement. |
|
Accounting Method |
Proportionate consolidation (line by line) |
Read more about how to use Joint operations in Konsolidator.
What can I do with the new feature?
- Possibility to add joint operations to the group structure and upload trial balances.
- Automate journal calculations and cash flow for joint operations
- Automatically apply the appropriate accounting principle for joint operations
This new feature allows you to seamlessly integrate joint operations into your group structure and upload their trial balances. It removes manual processes and makes your consolidation process more efficient and streamlined.
How to add a joint operation in a Konsolidator
- Go to SETUP and click on group structure
- Click on the button +Add company
- In the drop-down, Recognize company as, select “Joint operation”
- The system will automatically use the proportionate consolidation method
Want to learn how to use it?
For best practice for setting up Joint operations, read the Article here
View your cash-flow report directly in Konsolidator
We’re excited to introduce a new addition to our in-app reports that follows the release of the upload and consolidation reports. Now, you can also check your cash-flow reports directly within Konsolidator.
What's new:
- Cash flow report within Konsolidator: Previously, you could only view the numbers and sub-totals via a downloaded Excel report or an Excel report based on our Konnect API. Now we’ve integrated the cash flow report directly into the konsolidator UI – so you always have the numbers at hand
- Drill-down overviews: You can now click on numbers with a magnifying glass, drill down to sub-groups, individual companies, and local accounts, and see any changes in cash flow.
- Expand to see comparisons: You can expand columns to compare any periods and sources.
- More reports to come. During the year, you will see more and more in-app reports being released, making your work much smoother.
You can find the cash flow report on the CASH FLOW page.
We hope the new release will enrich your experience with Konsolidator and empower you to accomplish your tasks faster. You are always welcome to contact support at support@konsolidator.com with any questions.
Software update: April 8, 2024