TaskCalc is a specialised NetSuite Extension designed to streamline the consolidation of subsidiaries with less than 100% ownership, such as joint ventures or minority shareholdings.
Overview
TaskCalc is a powerful NetSuite Extension designed to simplify the preparation of consolidated financial statements for entities with shared or partial ownership.
This NetSuite Extension ensures accurate consolidation of subsidiaries, joint ventures, or investments where ownership is less than 100%.
Benefits
A budget-friendly alternative to enterprise-level consolidation software like Oracle FCCS
Ensures shared ownership financial statements meet regulatory standards
Reduces manual effort by automating complex consolidation tasks directly within NetSuite
We designed TaskCoin© to allow customer payments and supplier payments to be made in different currencies from the invoice currency. Let's explore more:
Automatically consolidates financials for subsidiaries with less than full ownership, reflecting partial stakes and joint ventures accurately.
Seamlessly embedded within NetSuite, ensuring real-time updates and easy access to financial data.
Calculates minority interest and shared ownership financial statements without manual intervention.
Manages consolidation across different currencies, handling forex gains and losses automatically.
Provides a full audit trail for transparency and compliance with UK and international accounting standards (IFRS, GAAP).
Generates clear, accurate reports within NetSuite for easy financial analysis and decision-making.
Businesses using NetSuite that need to consolidate financials for partially owned subsidiaries, joint ventures, or minority shareholdings.
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