Accounting

Smart finance for value creation

From the automation of accounting control to real-time business decision-making, optimization of fund utility, and budget control in one solution based on “the merger of finance and business for value creation,” it supports the centralization of accounting control to financial sharing, from financial accounting to management accounting, and from mandatory mergers to management integration.

Financial accounting faces severe challenge in the rapid development of the burins group: operation across regions and industries, numerous branches and subsidiaries, which make it difficult for the group to properly realize the financial policy. The specific nature of some of the group enterprises in diverse operation that may the foundation for accounting varies. Accordingly, the financial reporting to the group management team cannot be easily converged. The variety of affiliates of the group makes the account of equity investments and intra-group transactions difficult to manage and track. The group enterprises are located in different regions and the information contained in financial reporting cannot be submitted timely that make the financial and accounting staff mired at the financial accounting of the group and cannot spend more effort in management and supervision.

The ERP solution of Kingdee features group accounting on a uniform basis and designed the method of accounting and control, business rules, and other key points of control for the group into the solution in accordance with the international accounting standards. With this design, the accounting and control of the group will be standardized at a much higher level. The linkage between the financial and business data and the back-end financial data driven by the front-end business data unified the data for corporate management in uniformity and substantially help to mitigate the workload of the financial staff. Through the proper arrangement of the internal affiliated transactions for automatic consolidation and balance, the internal control, and accounting process could be streamlined with the improvement of accounting accuracy.

The typical application of centralized accounting and control

Centralized processing and control of financial data

The group can consolidate the financial data of all group members on the same platform for uniform accounting, real-time inquires, and statistical analysis for the update and accuracy of information at the group level. With this solution, the group can create cross-references with the financial statements of the groups, subsidiaries, and the accounts of the ledgers.

Integrated application across business and organizations

Driven by the information fed from workflows, business documents and processes can be sent to the organization of the counterparties through inter-entity transaction that contributed to the coordination and resources sharing among organizations.

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