Global Fixed Assets Case Study

A large US Manufacturing incorporation with over thirty five subsidiaries required a fixed asset accounting module sufficiently flexible enough to support its global network of accounting centres. FMIS provided a global solution to meet their requirements. The customer has been using the software for a number of years and still enjoys excellent support to their US operation.

Multi-Company

FMIS Fixed Assets is set up to deal with group accounting and the needs of over thirty five subsidiary companies. Both the consolidated group and local requirements need to be met.

Multi-Book

Some of the US entities require up to five different books to support the different local, federal and state tax requirements.

Multi-Currency

For foreign entities there is a need to record the transactions at both a consolidated currency and local currency level. A global currency file is synchronised over night with the accounting daily exchange rates table.

Central Control

Period end needs to be quick and efficient, enabling users to process and close multiple companies, books and sometimes periods in one submission. Bulk submission by company makes this an easy operation.

GL Postings Flexibility

A full range of GL postings needs to be set up for each company and general ledger accounting structure. All of the required posting types including complete inter-company postings are achieved using a flexible rule engine.

Easy Reconciliations

Statutory Accounting, GAAP and IFRS accounting reconciliation are supported by the easy to use period processes. The reports have been tried and tested over twenty five years of accounting at multi-company level.

Flexible Reporting

Whether it be the standard reports or excel analysis, the system provides everything required to support the consolidated and local reporting requirements in the language and currency of choice.