Author: BrizoSystem
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How Do I Run Consolidated Group Financial Statements in MYOB?
Introduction: The Challenge of Consolidation for MYOB Users MYOB is a trusted accounting platform for thousands of businesses across Australia and New Zealand. It’s known for its local tax compliance, payroll tools, and general accounting features. However, as your business expands into multiple entities—whether due to geographic spread, structural complexity, or group ownership—you’ll likely encounter…
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How Do I Run Consolidated Group Financial Statements in QuickBooks?
Introduction: The QuickBooks Challenge for Multi-Entity Companies QuickBooks is widely used by small to mid-sized businesses for its user-friendliness, affordability, and rich feature set. It helps companies manage bookkeeping, invoicing, payroll, and taxes efficiently. However, as businesses scale and operate across multiple entities—whether due to expansion, acquisitions, or international operations—they often run into a major…
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How Do I Run Consolidated Group Financial Statements in Xero?
Introduction: Xero and Multi-Entity Reporting Xero is a powerful cloud-based accounting platform used by businesses worldwide. It’s widely appreciated for its simplicity, real-time access, and integrations. However, one common challenge arises for businesses that operate across multiple entities: consolidated financial reporting. By default, Xero is designed to manage the financials of a single entity. It…
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Say Goodbye to Manual Report Compilation with BrizoSystem’s Insight Package
If you’re still manually compiling financial reports and dashboards for monthly meetings, board packs, or investor updates, you know how time-consuming and stressful it can be. From gathering data to formatting documents and ensuring accuracy, the process can feel like a never-ending task, especially as your business grows and the volume of financial data increases.…
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Managing Multi-Currency Entities: Challenges and Best Practices
As businesses expand globally, managing multi-currency entities becomes a critical part of financial operations. However, this process is fraught with challenges, ranging from complex exchange rate management to compliance with different accounting standards. In this blog, we’ll explore the common pain points of managing multi-currency entities and how the right financial consolidation tool can make…
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Mastering Multi-Country Financial Reporting: Challenges and Pitfalls
For businesses operating in multiple countries, financial reporting can be a complex and time-consuming task. Each country comes with its own accounting standards, tax regulations, currencies, and fiscal periods, creating a maze of financial data that must be accurately consolidated and presented. Without the right tools and processes, this can quickly turn into a logistical…
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The Hidden Costs of Manually Exporting Data for Financial Reporting
For many finance teams, exporting data manually from accounting systems like Xero, QuickBooks, or MYOB is a regular part of the monthly reporting process. This approach might seem straightforward, but it introduces a range of challenges that can slow down your financial close, increase the risk of errors, and limit the insights you can draw…
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Announcing Prebuilt KPIs in BrizoSystem
Tracking financial performance can be a daunting task, especially when managing multiple companies or subsidiaries. To make this process simpler and more insightful, BrizoSystem has introduced a set of prebuilt KPIs (Key Performance Indicators) that cover a wide range of financial metrics. These prebuilt KPIs are designed to give you a clear, real-time view of…
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The Hidden Costs of Manually Preparing Board Packs and Monthly Reports
For many finance teams, preparing board packs and monthly report sets is a routine yet time-consuming task. It involves collecting data from multiple sources, validating numbers, updating spreadsheets, and creating polished presentations—often under tight deadlines. While this manual approach might work for small businesses, it quickly becomes unsustainable as your organisation grows. In this blog,…
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Managing Multiple Companies in BrizoSystem: Simplifying Financial Consolidation with Virtual Groups
As businesses grow and expand, they often find themselves managing multiple companies, subsidiaries, or business units. This structure, while beneficial for scaling operations and reducing risk, introduces a significant challenge: financial consolidation. This process involves combining financial data from multiple legal entities into a single, unified view for accurate financial reporting and analysis. BrizoSystem is…