Tư vấn

End-of-Period Processing – Generating Standard Financial Reports

Update

FTS Accounting supports businesses in handling all end-of-period accounting operations, evaluating exchange rate differences, and automatically generating financial statements in compliance with Vietnamese Accounting Standards (VAS) and international standards. It also enables financial statement consolidation — particularly suitable for organizations with centralized models such as parent–subsidiary structures, multi-branch enterprises, or FDI companies accounting in multiple currencies and requiring group-level financial reporting in a different reporting currency.

1. Automatic End-of-Period Processing

  • Update and add other accounting entries.
  • Automatically perform end-of-period closing entries.
  • Ensure data accuracy, eliminate duplicate data entry, and shorten the closing process.

2. Exchange Rate Difference Evaluation

  • Automatically evaluate exchange rate differences for multi-currency transactions (VND, USD, EUR, etc.).
  • Automatically post exchange rate revaluation entries at period-end.
  • Automatically generate accounting entries for exchange gains/losses into appropriate income/expense accounts.

3. Financial Statement Preparation – VAS and Group Reporting

  • Tự động lập các báo cáo tài chính bắt buộc theo quy định của Bộ Tài chính:
    • Balance Sheet
      Income Statement
      Cash Flow Statement (Direct & Indirect methods)
    • Notes to Financial Statements
  • Hỗ trợ lập báo cáo tài chính  theo tiêu chuẩn quốc tế hoặc theo yêu cầu đặc thù của tập đoàn, báo cáo 2 loại tiền tệ, 2 hệ thống tài khoản phục vụ doanh nghiệp FDI, doanh nghiệp có hoạt động quốc tế
    • Balance Sheet
      Profit and Loss Statement
    • P&L by Month
    • Balance Sheet by Month

4. Consolidated Financial Reporting

4.1. Consolidation with Subsidiaries Using FTS Software

  • At subsidiary level::
    • Perform full accounting and financial reporting in compliance with standards.
    • Accounting data is updated in real-time to the central system.
  • At parent company level::
    • Automatically consolidate journal entries from all subsidiaries.
    • The system does not use traditional “horizontal report summation.”
    • Instead, consolidated reports are generated directly from transactional (voucher-level) data, ensuring accuracy, consistency, and removal of duplicates.
Standard consolidation procedure at the parent company::
  • Step 1: Eliminate intercompany balances and transactions:
    • Account 136 – Intercompany Receivables
      Account 336 – Intercompany Payables
      Account 512 – Intercompany Revenue
  • Step 2: Create consolidation adjustment entries to eliminate internal transactions, exchange rate differences, minority interests, etc.

4.2. Consolidation with Non-FTS Units

  • After completing independent financial statements, subsidiaries submit standardized reports to the parent company.
  • FTS provides a dedicated interface at the parent company to manually input financial statement indicators from these units.
  • The software automatically aggregates (horizontally) the reports from non-FTS subsidiaries into the consolidated report.

The Financial Reporting Module in FTS Accounting is more than a reporting tool — it is a central hub for financial data integration, empowering management to make fast and accurate decisions. With its capabilities in consolidation, automation, multi-currency processing, and international compliance, it is an essential solution for modern financial management.