The bank asks for IFRS and monitors covenants
Situation
The books are kept under national standards, while the bank requires IFRS reporting and checks covenants regularly. The transformation is done in spreadsheets once a quarter, and a breach is discovered from a letter from the bank.
What A3.Finance does
A second chart of accounts and translation rules without programming, transformation packages with approval and regular covenant checks with a warning threshold.
Result
- 1IFRS reporting is built from the same accounting data
- 2An erroneous transformation package is cancelled by reversal
- 3A covenant alert comes before the breach
Which features are used
Other use cases
- OwnerThere is a business, but no CFO
- 1CBooks stay in 1C, nobody will change that
- SeasonalityMoney runs out before it comes in
- Group of companiesSeveral legal entities, different countries
- FranchiseA network of outlets under one brand
- Project businessOrders are profitable, but there is no money
- TreasuryPayments are approved in a messenger
- PlanningThe budget is out of date by spring
Sounds like your situation?
We will show the product on data from your accounting system and build your first payment calendar together with you.