syscoon group accounting 

syscoon finance team has gathered broad experience in group accounting. Inside the syscoon-finance-package "syscoon group accounting" we close those gaps, which are important for preparation of group financials. It covers movement types for complex asset-, provision, -equity registers as well as assistance for later financlal/legal consolidation (which comprises IC-partner, automated charging of IC-costs, IC-accruals inside standard proces.

You should consider this package if you plan to work with a consolidation software, regardless if it is based on an ODOO-solution (please look at our syscoon legal consolidation) or an external software like Lucanet. Please also keep in mind that the standard-ODOO-consolidation app is "only" a management consolidation. 

Also for creating IFRS/US-GAAP closings/notes you can consider the movement types ot topics. So far we do not offer a multi-ledger-solution, if you need one, please contact us to discuss further ideas...

The "syscoon group accounting" package will be available from Q3 2022 onwords. Feel free to contact us and raise any questions!

Movement Types and Topics

With the help of the Movement-Types-module, a transaction type can be specified for each booking. An evaluation is subsequently performed using the standard ODOO-pivot-function..

Possible applications

Transaction types fixed assets as well as "transaction mirrors" for loans, equity and accruals.
Topics enable a clearer categorization of entries by linking each entry with a Topic corresponding to the respective theme. Unclear accounts or even sub-ledger accounting in Excel are thus a thing of the past.
Possible applications: Addition Provision, Consumption Provision, Reversal Provision, Addition Assets, Depr. Asset, Reversal Asset, Reversal Depr. Asset, Reclassification Asset, Loan Addition, Loan Repayment, Loan Addition Interest, Loand Repayment Interest etc.
Example: For the "Other accruals" account, a topic with the description "WP-2022 individual financial statement" is defined. This topic can now be attached to every entry that has a thematic connection. No matter if it is a creation, a release or a utilization. The result is a simple possibility to get an overview of "Accruals per subject".
Another possible application could be found in the area of "Loans": Instead of a separate general ledger account for each loan, only ONE collective account is created. A distinction between the different loans is now simply made via the respective linked circumstances.

Example

For the "Other accruals" account, a topic with the description "WP-2022 individual financial statement" is defined. This topic can now be attached to every entry that has a thematic connection. No matter if it is a creation, a release or a utilization. The result is a simple possibility to get an overview of "Accruals per subject".
Another possible application could be found in the area of "Loans": Instead of a separate general ledger account for each loan, only ONE collective account is created. A distinction between the different loans is now simply made via the respective linked circumstances.


Intercompany-Collector

A batchrun to mark, identify and invoice IC-charges. The IC-Collector enables an external incoming invoice to be split between the subsidiaries of a corporation as soon as it is entered. Thus, at the end of a period, outgoing invoices (in the clearing company) and incoming invoices in draft (in the cleared company) can be created via a Batch, listing all collected invoice lines. The original PDFs are automatically attached in the process. In addition, 100% automated account determination becomes possible, even in the case of differing charts of accounts between companies.
 

Possible applications

External incoming invoices, outgoing and incoming IC-invoices, automated account determination.

Example

A service invoice is sent to the headquarters although the actual service recipients are one or more subsidiaries of this corporation. The received invoice amounts would now have to be marked and "debited" to the respective subsidiaries at the end of the month, often involving a lot of effort.
The IC-Collector, however, now enables the responsible accountant to mark these entries as future debits and furthermore to assign them directly to the corresponding subsidiaries. The additional, time-consuming work at the end of the month is completely eliminated as all further processes are now 100% automated by starting the batch run.

 

IntercompanySign

We need an "IC-sign" (a checkbox) for our contacts to identify those, which are intercompany; as we use "multi-company", this field should be filled automated as soon as a new company is created (but it is possible also to tag the checkbox manually).

Possible applications

Group of companies which have to do a legal group financial statement and/or where an IC-reconciliation is needed.
If you enter an IC-account inside a journal entry line, you can only add those partners tagged as IC-partner.
(Attention: in ODOO you can add a partner to each and every posting line, no matter if customer-/verndor-colelction-account, open item-account or standard account!)