consolidating companies and general ledgers presented by joe petrich activar inc
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CONSOLIDATING COMPANIES AND GENERAL LEDGERS Presented by: Joe Petrich Activar, Inc. Overview Chart of Accounts Random Impossible to memorize chart of accounts Mapping Confusing Troubleshooting difficult. Overview Financial statements Overall layouts inconsistent

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consolidating companies and general ledgers presented by joe petrich activar inc
CONSOLIDATING COMPANIES AND

GENERAL LEDGERS

Presented by:

Joe Petrich

Activar, Inc.

slide2
Overview

Chart of Accounts

Random

Impossible to memorize chart of accounts

Mapping

Confusing

Troubleshooting difficult

slide3

Overview

Financial statements

Overall layouts inconsistent

Categorizing accounts were inconsistent

(expenses above or below the gross margin line)

Difficult to compare across companies

Difficult and time-consuming to consolidate companies

slide4
Considerations

Servers

Chart of Accounts layout/configuration

Merging accounts – while maintaining history

Companies to Branches

slide5

Considerations

Companies to Branches

General ledger history

Accounts receivable

Accounts payable

Inventory

Documents (i.e. quotes, invoices, statements, etc.)

slide6

Results and Benefits

Structured Chart of Accounts

Consistent procedures – writing and training

Cross-training accounting staff simplified

Communication improved

Accounting staff

Non-accountants (i.e. IT staff, managers, etc)

slide7
Results and Benefits

Consistent Chart of Accounts

Meaningful

Consistent

Easy to memorize

Improved controls regarding modifications

slide8

Results and Benefits

Mapping

Ease of set up

Troubleshooting

Easier

Change can be duplicated across all companies

Corporate Acquisition – set up is quick and easy

slide9

Results and Benefits

Financial Statements

Layouts consistent

Ease of reviewing

Compare Companies - “apples to apples”

Ease of creating financial reports

Utilize ranges

Copy and modify header

slide10

Results and Benefits

Financial Statements

Roll up (consolidate) financials automatically

Timely financial statements

Simplified Year-End Audit

Time to perform audit reduced

Saved on audit fees

slide24

ACTIVAR, INC.

Joe Petrich

[email protected]

952-944-3533

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