Frequently Asked Questions

• Can we generate our annual financial statements in Finnivo?
  Yes. Finnivo is designed to automate the data collection process and present the consolidated results at various management or statutory entity levels. You will be able to design and easily assemble your annual financial statements based on the final consolidated results.
• Does Finnivo provide work-flow functionality?
  In Finnivo you can enforce good practice, efficiency and accuracy through various rules, locking and sign-off processes. This is achieved without needing to introduce cumbersome and rigid work-flow elements throughout the reporting environment. Finnivo also gives you monitoring tools to track efficiencies and key performance indicators.
• When viewing or analysing results, does Finnivo read data directly from the source database?
  No. With Finnivo you import data from one or more data sources (including your ERP programme) into a separate database. This way the reporting department can be confident that it is working with data from a specific point in time and not a constantly moving target.
  If you need to process more transactions at source, you can simply update the results in Finnivo by initiating another import.
• How often does the data get refreshed in Finnivo?
  As often as one chooses to import the source data. You can either configure Finnivo to extract the data at periodic intervals or on demand as and when required.
• Can we import and explore general ledger transactional details?
  Yes. If required, you can import the transactional detail for all, or a selection of, general ledger accounts.
• Can we control which cost centres or report formats certain users have access to?
  Yes. You can manage access to cost centres, reports (or sections of reports) as well as functionality within the software.
• Will Finnivo automate the reconciliation and exception reporting of inter-company balances and transactions?
  Yes. There are multiple options for streamlining and managing the reconciliation of transactions and balances between group entities.
• Does Finnivo cater for consolidation rules and processes?
  Yes. Finnivo allows you to build in various consolidation or equity accounting rules; manual or automated elimination journals; structure consolidation settings; and automated consolidation and reconciliation between group entities.
• Can we make changes to report templates and data calculations ourselves?
  Yes. You can make any changes or even build new reporting applications yourself without needing to contract consultants. Finnivo is the only fully self-maintainable system available on the market.

More questions?
For more info visit our Did You Know? page.