Posts tagged with "period close"

Is Your Period Close Time Exhausting? Tips On How to Reduce the Crazy

Closing the books is a stressful process for any organization, and added pressure often comes from the executive team to close the books as quickly–and accurately–as possible. Fortunately there are some ways to reduce the chaos and craziness of the period close, such as adopting a “continuous accounting” model and implementing a cloud-based solution.

Adopt a “continuous accounting” model

By working some of the tasks of a period close into your staff’s daily accounting activities, the period close can be in turn speedier and more efficient. Working reconciliations into daily activities can not only speed up your next period close, but can also enable real-time reporting which allows for faster, better business decisions. Your executive team will surely appreciate the added bonus of accurate and timely reports available at a moment’s notice.

Utilize a cloud-based approach

Continuous accounting is made easier by the implementation and use of a cloud-based accounting solution. When all teams can access the same system and data, the period close is made that much easier. Automation of many processes can be added to the daily accounting workload, meaning your accounting team will spend far less time crunching numbers during the period close. Easy browser-based solutions mean your team, regardless of location or time zone, can access data and reports on the go at just a click of a button.

FYIsoft helps reduce the crazy

Implementation of FYIsoft’s financial reporting software can help your period close be the fastest and most efficient it can possibly be.

Financial reports provide the data and insight from which all business decisions are made. For today’s finance teams, it is crucial that those reports be accurate, easy to produce, and board-ready at a moment’s notice.

The report applications found in most ERP systems just don’t cut it. That is FYIsoft’s focus.

FYIsoft is committed to delivering the best available cloud financial reporting software, specifically designed to integrate with your GL system and dramatically improve reporting processes, even in the most complex financial environments.

Among many other benefits, FYIsoft can cut down the chaos of your period close. FYIsoft customers routinely see 2-5 days–and up to 10+ days–cut off their period close processes, which affords accounting staff time and energy for strategy, advisory services, and business growth.

Request a demo today and learn how FYIsoft can help your period close run as smoothly as possible.

Stressed Out Accountant

Are You Missing Life Events Due to Stressful Financial Closes?

Accountants know that financial closes are stressful and time consuming as is, but with added pressure from the executive team, the financial close can become a hellish landscape.

The majority of accountants must trade in vacation or family time during financial close time, missing important life moments like family weddings, little leagues games, dance recitals, and more.

You don’t have to be one of them.

Stop missing life events and regain a work/life balance

FYIsoft has helped its customers get their lives back. One is quoted as saying: “We have locations in many states. If we did not have FYIsoft, life would be miserable.”

With FYIsoft’s cloud-based accounting software, you’ll get:

  • Easy multi-company or multi-location consolidations
  • Simple report setup with an intuitive ‘building block’ approach
  • Perfectly formatted, board-ready reports
  • Automated report distribution, guaranteed to get the right data to the right people with just a click of a button
  • Powerful drilldown capability so users can analyze their statements and answer their own questions
  • Built-in multi-currency conversions
  • Anywhere/anytime access so reports can be shared and viewed on-demand

Nearly 90% of finance professionals work overtime during financial close–and much of this time is spent scrubbing data, running reports, formatting reports, and then manually distributing them via email.

FYIsoft knows that these processes can be taken care of through the click of a button.

Much of the reporting process can be automated, and secure, 24/7 access via any device with an internet connection means that executives can run the reports locally. The data any user accesses will always be the most current, and security permissions and parameters can be set to protect the integrity of your data.

FYIsoft customers boast of financial closes that consistently save 10+ days–putting time back on customers’ calendars. Now you have time to manage new responsibilities in your role, as well as participate in your personal life again to maintain a stronger work/life balance than accountants ever thought possible.

FYIsoft can help

Accountants are expected to produce accurate reports at a moment’s notice, and those reports can involve multiple entities, general ledger systems, account codes, locations, and currencies. It can be painful. But at FYIsoft, financial reporting software is the focus. With a simple integration into your GL, FYIsoft is a powerful add-on that delivers faster, easier, and more accurate financial reporting–giving you time back and lightening your mood to boot.

Request a demo today and learn how FYIsoft can help you regain control of your life, both at work and at home.

Financial Report Writer

Need a Financial Report Writer That Can Cut 10+ Days Off Your Period Close?

Financial reports provide the data and insight from which all business decisions are made. For today’s finance teams, it is crucial that those reports be accurate, easy to produce, and board-ready at a moment’s notice.

As an accounting professional, you’re well-versed on other report applications found in most ERP systems that just don’t cut it. But FYIsoft is committed to delivering the best available cloud financial reporting software, specifically designed to integrate with your GL system and dramatically improve reporting processes, even in the most complex financial environments.

FYIsoft’s financial report writer can help you cut 10+ days off your period close. Among a faster period close, benefits include:

  • Easier Report Generation: Our component-based cloud architecture simplifies consolidations, even for complex multi-company entities.
  • Efficient Report Distribution: Secure, web-based distribution process ensures you get the right data to the right people, whenever they need it.
  • Mobile Access: Access to financial reports 24/7, through any device, ensures you’re always ready with accurate, reliable data.
  • Data Integrity: With our cloud reports, users can drill down and analyze their own expenses – without the ability to change the data.
  • ROI Within Weeks: A low total cost of ownership, combined with increases in productivity, will deliver ROI in as little as eight weeks.

FYIsoft’s financial report writer also solves these common business dilemmas:

  • Multiple GL systems: FYIsoft standardizes data so you can integrate with as many GL systems as needed, saving weeks if not months of time.
  • Currency conversions: For multinational companies, FYIsoft automates currency conversions, greatly simplifying the consolidation of global financials.
  • Multiple entities (companies, branches, divisions, franchises): Companies that generate 100+ reports every month find huge relief with FYIsoft. FYIsoft can slice and dice any distributions needed, giving you confidence that you’re delivering the right data to the right people.

FYIsoft can propel you forward

Cutting days off your period close can help your business focus on strategy and advisory services. It frees up time for your accounting team to do what they do best, and it minimizes the risk of erroneous, inaccurate data leaking to your executives and board.

FYIsoft leans on cloud-based functionality to streamline and automate processes, making your period close as quick and easy as possible.

Request a demo today and learn how FYIsoft can cut 10+ days off your next period close.

A Faster Period Close is Something All Accounting Professional Dream Of– FYIsoft Can Help

Accounting professionals may disagree on processes and workflows, but they often agree on at least one point: that a faster period close is preferred and beneficial to business.

Did you know that FYIsoft can save up to five days on your close?

What could your staff accomplish with up to five days gifted back per period close? Financial executives will be thrilled to hear that the time saved can be reallocated to strategy and analysis.

Is a faster period close too good to be true?

No. But how can your organization make it happen?

Today’s executives know how much pressure there is to save time and money; the bottom line is at the forefront of every executive’s mind. Preparing pristine, accurate financial statements can be a time-consuming endeavor, and combined with a lack of visibility and fragmented data, many accounting teams are stretched beyond their means.

Financial Reporting Solutions

Fortunately, FYIsoft financial reporting solutions can help your organization do the following:

  • Managers and decision makers no longer have to wait to get answers from their accounting department–instead, they can analyze their own financial statements and quickly drill down to account level and transaction details
  • Reports and entries can also be analyzed all the way back to the transaction details, and alerts can be created using if/else statements
  • FYIsoft’s data auditing and validation feature can even check your work, and reports can easily be exported to Excel for further analysis

FYIsoft to the rescue

FYIsoft can offer new efficiencies that help you achieve and maintain faster period closes.

FYIsoft can connect to multiple general ledgers at a time, as well as drill down to the transaction level right from the report to ensure accurate reconciliations. With FYIsoft, it’s possible to complete your period-end close process in hours–rather than the days or weeks it often takes!

FYIsoft can propel you towards faster closes

Accounting professionals dream of a faster period close–and FYIsoft can make it a reality.

FYIsoft automates, simplifies, consolidates, and streamlines, cutting down on and even in some cases eradicating manual data entry. With less time spent on manual processes and more efficiency and accuracy due to automation, it’s easy to see why FYIsoft can help you achieve faster period closes.

Contact FYIsoft for a demo today to see how your dream of faster period closes can be a reality.

 

Financial Reporting Software - Period Close

How FYIsoft’s Financial Reporting Software Can Cut 10+ Days Off Your Period Close

Financial reports provide the data and insight from which all business decisions are made.

For today’s finance teams, it is crucial that those reports be accurate, easy to produce, and board-ready at a moment’s notice. The report applications found in most ERP systems just don’t cut it.

That is FYIsoft’s focus. FYIsoft is committed to delivering the best available cloud financial reporting software, specifically designed to integrate with your GL system and dramatically improve reporting processes, even in the most complex financial environments.

FYIsoft’s financial reporting software solves even the toughest accounting challenges your organization faces:

Multiple GL systems – FYIsoft standardizes data so you can integrate with as many GL systems as needed, saving weeks if not months of time.

Currency conversions – For multi-national companies, FYIsoft automates currency conversions, greatly simplifying the consolidation of global financials.

Multiple entities (companies, branches, divisions, franchises) – Companies that generate 100+ reports every month find huge relief with FYIsoft. Our software can slice and dice any distributions needed, giving you confidence that you’re delivering the right data to the right people.

And, FYIsoft’s financial reporting software can cut 10+ days off your period close.

Other perks of FYIsoft financial reporting software:

    • Easier report generation – Flexi’s component-based cloud architecture simplifies consolidations, even for complex multi-company entities
    • Efficient report distribution – Secure, web-based distribution process ensures you get the right data to the right people, whenever they need it

  • Mobile access – Access to financial reports 24/7, through any device, ensures you’re always ready with accurate, reliable data.
  • Data integrity – Users can drill down and analyze their own expenses – without the ability to change the data.
  • ROI within weeks – A low total cost of ownership, combined with increases in productivity, will deliver ROI in as little as eight weeks.

 

How FYIsoft can help you

Closing the books quickly and accurately is the ultimate goal, and FYIsoft can help accomplish that by cutting 10+ days off your period close. FYIsoft has 8,500 users and counting, and the team is ready to help upgrade your software, process, and workflow.

FYIsoft’s easy-to-use cloud solutions simplify even the most complex financial reporting demands by automating manual processes and enabling users to get the right information to the right people.

FYIsoft solutions help users with financial reporting, management reporting, financial consolidation, close management and reconciliation, report distribution, and more.

To start reaping the positive benefits of cloud software, including improved data accuracy, security, 24/7 access, automation, and improved communication, contact FYIsoft for a demo today.