Reporting - CRAFT Solutions: automated financial reporting

Reporting is a cloud app which allows automated and flexible reporting of the financial results and offers powerful analysis capabilities to understand financial performance.

Reporting financial results

One of the most important activities performed in an efficiently run business is the reporting and interpretation of financial results. Classic accounting activities cannot produce more than basic financial information. This cannot and should not be used by management as a tool for decision making.

Craft Solutions can help you create a reporting system for managing your business’ financial performance by finding the reporting format that best serves your needs for information (Profit & Loss, Balance Sheet, Cash-Flow, etc.) and automate it through the Reporting app, so that it will not become an extra burden for existing departments. The reporting system can be implemented even if you do not use a budget, although we recommend creating a budget and can help you implement such a tool.

Analyse the evolution of financial results

Today’s business environment evolves at a speed that was unimaginable only a few years ago. Businesses that succeed in adapting their systems to understand and explain the evolution of the elements influencing them every day are the ones that will be successful in this era of information and connectivity.

To ensure your business evolves along the desired path, you need to use an efficient and consistent system of analysis of results across all operational, market and support areas.

By using the Reporting system, you can keep an overview of the business’s financial results, but at the same time obtain enough detailed information to allow you to understand the developments in each business area and make informed and timely decisions.

The app’s functionalities are as follows:

MONTHLY ACCOUNTING RECORDS

The monthly accounting records are imported automatically from the company’s accounting system, or imported from a file. The budget is also imported into the app.

STORAGE

The financial figures are stored each month in the current, previous and budget period (multiple budget versions can be stored).

COST CENTRES

It is optional, but in order to use the app’s entire reporting and analysis power, it is recommended that you use at least cost centres and expense categories.

REPORTS

The app contains proposals for classic forms of Profit & Loss, Balance Sheet, Cash Flow, Expenditure Analysis Report.

10 ACCOUNTING DIMENSIONS

For a more relevant analysis, you can use up to 10 accounting dimensions such as: accounts, cost centres, expense categories, projects, employees, cars, etc.

FLEXIBILITY

The user can easily modify the predefined format of the reports proposed in the app, but can also define his or her own format of reports with total flexibility (for example, subtotals, profitability %, etc.).

REPORTING PERIOD

The reports show in parallel the latest month of the current year, the budget and the previous year, as well as the YTD (year-to-date) for the current year, the budget and the previous year.

CUBE ANALYSIS

The cube analysis module allows ad hoc analysis to be performed on a system identical to the pivots of the known Excel app.

VARIATIONS

Variations in absolute value and percentage between periods are automatically displayed.

DRILL_DOWN ANALYSES

The app allows drill-down analyses to be performed starting from the highest level of summarisation of figures and down to the last accounting dimension used.

Integration with the other CRAFT Solutions apps

By integrating Reporting with the Budgeting app, importing your budget can be fully automated, reducing the time required to manage the app and eliminating human errors.