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Consolidation
Consolidation
Automate and Accelerate Your Financial Consolidation—in the Cloud
Designed for accounting, Consolidation speeds up your financial close with real-time financial consolidation and intercompany eliminations. Automate currency translations, reclassifications, and reporting for faster, more accurate consolidation, close, and reporting cycles.
See how you can speed up and automate your financial close.
Streamline and Automate Your Financial Consolidation Processes
Consolidation’s intuitive, Excel-like interface and debit/credit format streamline intercompany eliminations, journal entries, and more. It’s easy to categorize pre-eliminations, eliminations, and adjustments. Minority interest and ownership percentages are user-defined and automatically calculated. Our automated currency conversion and cumulative translation adjustment simplify complex multi-currency financial consolidations.
Get Full Visibility Into Your Consolidated Financials—Anytime, Anywhere
With Consolidation, financial consolidation happens in real time—no batch jobs, no long-running processes—so you always have visibility during the close. Built-in rule intelligence automates intercompany eliminations, reclassifications, and allocations. For even more insight, you can drill down into the details behind consolidated figures.
Complete Transparency and Audit Trail, Stronger Compliance
We’ve built controls right into Consolidation to help you audit your data and track your close. You’ll easily be able to track who changed values and formulas as well as when they were changed, thanks to date and time stamps—even view new and old values. Our clear, centralized view of all users, and their roles and permissions, helps you stay on top of your compliance initiatives.
Finally, a Consistent, Repeatable, and Collaborative Close
Powerful built-in process management allows you to track and monitor the execution of financial close tasks, such as checking currency rates and ensuring eliminations have been finalized. It’s the perfect tool for your close checklist—and keeps everyone on track, no matter how distributed your accounting team is.
The Last Mile of Finance: Faster, Standardized Financial Reporting
Consolidation’s built-in, dynamic web reporting lets you drill down into GL accounts, even back to the detailed transaction level. Refresh financial statements with one click, and deliver formatted narrative and board reporting with Workday Adaptive Planning OfficeConnect. XBRL integration streamlines the process of moving from “close to disclose.”
One-Click Pivot From Close to Planning
Because Consolidation is built on a common technology foundation and unified with Planning, you can pivot from close to budget with a single click. A single database for financial data and business structure ensures a pain-free handoff from consolidated financials to plans.