Consolidation of disparate sources of data is a reality that finance and accounting grapple with constantly. Manual consolidations and reconciliations can be time consuming and error prone, but executives rightly demand that management accounting systems be reconciled with the GL to prove their validity.

Financial Manager contains powerful reconciliation and consolidation features that allow you to pull in multiple "streams" of data, compare results, and drill down to the individual transactions represented by the numbers that you see. Far from being disconnected summaries of information, Financial Manager reports and views provide a deep and detailed look and comparison at the spending taking place - validating that the raw data and the performance measurement based on it are accurate.

EcoSys FM removes the manual, labor-intensive steps, as well as the errors in typical consolidation and reconciliation processes. Your analysts can spend their time on high value tasks such as performance measurement and variance analysis instead of manual number crunching.

Consolidation and Reconciliation Features:

Consolidate multiple data sources. Flexibly integrate with ERPs, General Ledger, Project Management, Procurement, and Timesheet systems to consolidate actuals from one or multiple data sources. Manage all consolidated data within FM's centralized data store.	Click to Enlarge
Perform reconciliations. Manage multiple actual data streams for variance analysis, reconciliation, and reporting. Save your analysts many hours a month in manually reconciling actuals at different levels of detail or from different systems.
Perform financial chargebacks. Automate chargebacks from projects and operations to one or more business units/profit centers. Costs can be split up by percentage, or specific charges can be directed to specific funders.
Perform period closeouts. Configure your period closeout process in Financial Manager. Define month or quarter end rules for your organization. Project managers and financial controllers can validate new charges coming in before approving the numbers or requesting adjustments.
Securely perform financial adjustments and manage accruals. You can require changes to history to only be performed with formal past period adjustments, requiring stringent security and documentation. A full audit trail is captured for all financial changes.
Report on consolidated data. Flexibly report on all financial data at any level of detail. Ad hoc reports are easy for end users to create and don't require IT or administrative support.
Support governance and audit requirements. Facilitate support for Sarbanes-Oxley and SOP 98-1 compliance with EcoSys FM. A full audit trail is captured for all financial changes, along with support for integrated notes, memos, and additionally required/optional information.