It wasn’t all that long ago that the only way to consolidate financial reports was through a series of drawn out manual processes. The more files you had to consolidate, the longer it took. It was tedious work, to say the least.

Today, advances in technology have reduced consolidation to a one-click process that takes seconds, regardless of the number of files involved. So why isn’t everyone doing it this way?

In many cases, accountants opt to stay with the manual method because they believe an automated reporting system would be prohibitively expensive. And, while that certainly was true a few years ago, Qvinci’s arrival on the scene has removed cost and complexity from the equation.

By making accounting consolidation software affordable for firms and businesses of any size, Qvinci for Accountants offers an ROI that is tough to beat. In many cases, Qvinci’s powerful consolidation feature saves accountants days of work each month.

To demonstrate how far we’ve come, let’s go back in time to examine how financial reporting has traditionally been done and explore how easily it can be handled today.

Before spreadsheets

Before spreadsheets became commonplace, there were no special formulas and automatic calculations. This meant everything had to be calculated manually. And, if you were creating a complex financial report, it wasn’t unusual to be running at least a quarter behind. Personal computers and modern software eliminated a lot of this manual labor. But, even with Excel or QuickBooks, it could still be a complicated process when there was more than one business entity within an organization. This has created the need for effective accounting consolidation software.

Is your current solution limited?

Xero, QuickBooks and Excel are excellent programs but when you need to consolidate important financial data, they require it be done manually (including file syncing). With Qvinci, syncing is automatic and done every 24 hours. Collecting data from every entity with standard accounting software is time-consuming because you have to work with one entity at a time. With Qvinci, accessing and consolidating up-to-date data for reports takes no time at all plus you can view the data side-by-side for quick and easy comparisons.

Error checking

With the manual process, the creation of the report is just the beginning. You then have to go over it with a fine-tooth comb to check for duplicate values. Also, some data needs to be deleted (e.g. sales within a corporation) when you are consolidating. When you use a powerful reporting solution like Qvinci, you are instantly able to track where an error was made and by whom.

Getting started with Qvinci

Our consolidation software platform integrates easily with most accounting software. And, most accountants are able to onboard themselves with very little assistance from our knowledgeable customer support representatives. Of course, this team is available to anyone who needs a little extra help and they will even handle the entire onboarding process for you for a nominal fee. Still not convinced all this new technology is for you? Try it free for two weeks and see for yourself how much time and money Qvinci can save you.