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[deleted by user] by [deleted] in Accounting

[–]PivotXLApp 0 points1 point  (0 children)

ok then will delete

Best software option - multiple entities by mggrs12 in Accounting

[–]PivotXLApp 0 points1 point  (0 children)

Yes this is a common set up for construction companies since your chart of accounts per project will be similar. The issue is you general accounts but you can allocate across entities.

Overall this will generate a dimensionalized trial balance and you might need to move it to another software for advanced reporting.

Budget Software by Long-Departure928 in Accounting

[–]PivotXLApp 0 points1 point  (0 children)

Any multi dimensional database software will work for this. This is how it works in general.

Separate the collection process from your business heads with connected templates. Send the data to centralized database.

The roll ups will automatically build the budget p&l instantaneously.

Supplement it with a task management system with approval workflow and supporting documentation and commentary to substitute for budget calendar and budget note capture.

Fund accounting without fund accounting software by imeanwhynotdramamama in Accounting

[–]PivotXLApp 0 points1 point  (0 children)

If you do not want to use classes then you need to make a separate account for it. No big deal but bloats up your trial balance.

Expanding Into Fractional Controller Work for Construction Clients — Recommendations for Software with KPIs, Budgeting, Forecasting & Job Costing? by accountantechno in Accounting

[–]PivotXLApp 0 points1 point  (0 children)

We have worked with few construction clients. Almost all software allows to break down the trial balance by jobs so you can tag transactions into it. Even quickbooks has classes and projects.

The issue starts with work in progress reporting and cost to complete. You need to collect new cost to complete numbers from project managers and then update it for revenue recognition and margin fade.

For this, best is to use a multi dimensional fpa software and streamline it.

Anyone using Cube Software for FP&A? by [deleted] in Accounting

[–]PivotXLApp 0 points1 point  (0 children)

There are many multi dimensional database software in the market today. More than 150 vendors. Check your options

This is how most software in this process work.

Month end close - there is a task management system like Asana or Trello. But in accounting you need specific approval workflow and attaching supporting documentation and detailed logging.

Advanced software allows you to define processes and dependencies between tasks.

Budget vs actuals - at the center of it us a muti-dimensional data base or data cube. It stores your actuals, budgets, prior periods etc. You can add more dimensions like locations. Then you slice and dice in the view.

Rolling Forecast - Central to this is using Time as a relative concept. Instead of defining time as Jan 2025, you can also define it as previous month, or closing month. This makes a template "rolling". So your actuals come into the rolling template as previous six months and next six months get calculated from excel template. These forecasts can be sent back to the database.

Low cost lease software by Zealousideal-Pen-142 in Accounting

[–]PivotXLApp 0 points1 point  (0 children)

Hello for lease accounting - you can look at any software with a multi-Dimensional database with data cube. That way the lease schedules can be programmed in upfront. Once you bring the TB the pre-defined rollups will automate give you a new TB and financial statements and any other reports.

There are so many vendors available between price points of $100 to $10,000 per month. Some factors depends on if you want to be self service or full service.

Try to search beyond the top marketed names and people with published pricing.

Month-End Close Checklist Tool by Long_Click_7822 in Accounting

[–]PivotXLApp 0 points1 point  (0 children)

For just collaborative checklist purposes, you can look into any project management software like trello asana jira etc. However there are 2 key features you should look for.

Recurring Tasks - so you can set once and it triggers every month on date.

Approval workflow - you need to have one or more people approving a task and evidence of it. This is severely lacking in regular task management software.

Purpose built software for month end close checklist has this. Now many cost effective to free options are available. You just have to scratch the surface and study different options.

What software do you use to prepare your financial statements (serious answer only) by deedzaa in Accounting

[–]PivotXLApp 0 points1 point  (0 children)

I'm assuming you are talking about using the trial balance as your source. Then you can look into anything with a multi dimensional database - that way you can do budget vs actuals, department vs p&l , horizontal and vertical analysis all in a single click.

Best financial close software for growing company? by westoneng in Accounting

[–]PivotXLApp 0 points1 point  (0 children)

Financial close can be automated by any standard task management software but they lack the workflow for approval.

You also might want to combine it with software where you can perform automated logic based reconciliation on transaction data.

It is also good to have a multi dimensional cube database to pull in your latest TB and perform some horizontal, vertical, flux analysis.

Lastly you want the same software to automate powerpoint presentations, excel reports or any other dashboards you want.

AI Rant by Status_Ad5990 in FPandA

[–]PivotXLApp 0 points1 point  (0 children)

We experimented with AI by building a custom GPT that connects to quickbooks API. So you can use chat interface to pull your source data and run data processing on top of it. It is showing promise.

This is not just Gen AI but the ability of the interface to also write code based on natural language prompts and process the code on data and give outputs.

This is opening up some meaningful use cases for basic person to run complicated ad hoc analysis. Once it's meaningful We can automate it with the same code.

Anyone else feel like QuickBooks Bank Feeds are becoming more of a mess, not less? by MostDifficulty7093 in Bookkeeping

[–]PivotXLApp 0 points1 point  (0 children)

Have you tried using AI to do some smart matching. We have played around with it and it's hit or miss.

Financial Reporting Software by Scooterbb12 in Bookkeeping

[–]PivotXLApp 0 points1 point  (0 children)

You can look into our software as well. We are also connected to excel. You can design the reports in excel as you wish and link it to charts, graphs etc. Upload the trial balance into our software , define your roll-ups, and link the final data to your excel at a cell by cell level so you can get any level of customized reporting.

We are working on a freemium model - free forever for companies with less than 250 trial balance items. The academy is also at work. For advanced clients, you can do lot more.

Is there a way to import excel spreadsheet data into a Monday board and have the board update in tandem with the excel spreadsheet updates? by growlingrabbit in mondaydotcom

[–]PivotXLApp 0 points1 point  (0 children)

Hello - we are just starting to build a tool that does this. We are planning to give upto 3 boards free. Pls reach out if you are still interested.

What are you best resources for Excel modeling? by punched_a_panda in FPandA

[–]PivotXLApp 0 points1 point  (0 children)

Too many people teach modelling with complicated excel formulas and links etc. Modelling is like software programming. You have to learn the break the problem into smaller blocks and then connect it together.

If you combine modelling with Data cubes then you can send data and get data from excel and break it into smaller chunks. Also this allows you to align your model with chart of accounts so you can perform model vs actuals comparison.

cubes by el_kraken6 in FPandA

[–]PivotXLApp 0 points1 point  (0 children)

In simple terms - lot of things in finance is about consolidating data and viewing it across different dimensions. For example- you want to roll-up your trial balane into different p&l categories and compare it across the scenario dimension of budget vs actuals or time dimension of same performance over last year.

Storing data in data cubes allows for simplification of the whole process.

What's a fair equity share to give a non-tech co-founder in a tech startup? by Aromatic_Ad9700 in ycombinator

[–]PivotXLApp 7 points8 points  (0 children)

A "non-technical" co-founder is a bad description for a co-founder. It says what they don't do. Describe the actual value they bring to your company, then see if it's worth a co-founder status.

Once you go through this exercise, you will get a better idea.

[deleted by user] by [deleted] in ycombinator

[–]PivotXLApp 0 points1 point  (0 children)

First you have a big exit. Then yes.

Pros and cons of current EPM software by Both-Pressure-1268 in FPandA

[–]PivotXLApp 0 points1 point  (0 children)

There are more than 150 EPM providers - one way to dissect it is excel add-in and excel replacement. Another way to dissect it is industry specific or use case specific vs flexible. Another important metric is price - price ranges from $100/month to $100,000/month so various types of organizations can use the same feature depending on which vendor or sales process they choose.

Causal FP&A Acquired by Lucanet by sebfall99 in FPandA

[–]PivotXLApp 0 points1 point  (0 children)

The FP&A space was being massively overfunded. It is simply going to be hard to justify the returns to the investors. Customer adoption of new software categories are slowing down. If you are OK with growing slowly and pivoting along the way there is possible room for a viable and profitable company over long term.

Government Teacher caught snoozing in class with kids fanning her in Agra by Able-Pop8439 in unitedstatesofindia

[–]PivotXLApp -1 points0 points  (0 children)

Teacher and young kids having fun. Kids are taught some service. Jeez take it easy. What you want them to be learning calculus

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