Cloud CFO

Set-up

Cloud CFO Beta 08/2015

v22

Overview

During the set up stage, the administration function will allow the user to do the following: • Enter the organisational structure and hierarchy • Set up user access i.e. an individual will have either an

administration, entity or group role • Map entity data e.g. TB to the relevant reporting format and

account names to report lines • Define the format of reports e.g. profit and loss account • Automate consolidation adjustments e.g. intercompany

elimination

These functionalities can be updated at any point in time if/when the group structure or requirements change.

Cloud CFO is designed to work for your group structure During the initial stages we will work

with you to set it up to match your requirements

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Step by Step

Step 1 Enter the organisational structure and hierarchy

Step 2 Set up user access

Step 3 Map entity data

Step 4 Define the format of reports

Step 5 Automate consolidation adjustments

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Step 1: Enter the organisational

structure and hierarchy

To begin using Cloud CFO, the organisational structure and company hierarchy must be entered to build the framework for the workflows. This process requires the user to:

• Enter companies details (meta data), including company name and local currency

• Create a company hierarchy using some of the information entered above and identifying the parent company, subsidiaries and divisions

Company detail and company hierarchy changes can be updated or amended at any point, for example if one or more companies are acquired or disposed of.

For an average size group the process can take less than 30 minutes.

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Cloud CFO ribbon – Companies Details

1. Select ‘Companies’ from the

user ribbon

2. Select ‘Companies Details’ from the drop down menu

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Companies Details

Once ‘Companies Details’ has been selected an empty spreadsheet will appear with the

relevant data column headings. The user can then enter the ‘Company Name’,

‘Currency’ and ‘Entity Type’ for all companies within the group.

The remaining columns identify which columns in the trial balance we need to draw

information from, for example, which column the name/balance is in and which row the

data starts on etc.

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Cloud CFO ribbon – Company Hierarchy

1. Select ‘Companies’ from the user ribbon

2. Select ‘Company Hierarchy’ from the drop down menu

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View Company Hierarchy

Once ‘Company Hierarchy’ has been

selected, a spreadsheet similar to the

‘Companies Details’ page will appear.

For each of the divisions and entities the

‘parent’ company from within the group is

identified by the user.

Once the companies details have been

entered, selecting the “Refresh Reports” button

will populate the Entity Hierarchy Tree (see

diagram).

The Entity Hierarchy Tree is further used as a

means for selection of companies when

running reports.

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Step 2: Set up user access

User access is set up via the web portal. A user, typically at group level, will be granted administrator access. This administrator will set up and grant all users the appropriate permissions and access rights.

Each user will be granted a role:

• Administration for set up and general control

• Entity for submission of data (primarily trial balance and budget/forecast)

• Group for amendments and review

These system roles are designed to allow the users to view and amend only where authorised. Roles are assigned relevant to the individuals finance role.

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Web Portal – User Management

Once in the web portal select the ‘User Management’ tab.

Enter the details of the individual, assign relevant roles and apply a username.

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Step 3: Map entity data

For each reporting deadline the entity will submit their financial data - this will typically be in trial balance (TB) format. The TB is mapped to the relevant group reporting format i.e. each TB code/account number is allocated to the relevant heading in the profit and loss account or balance sheet. The mapping is saved in the database and subsequent TB submissions instantly update the relevant reports. Cloud CFO can be used for consolidating group accounts in both management accounts and financial statement format. For statutory financial statements a second mapping is produced using XBRL tagging. The group is therefore able to meet its filing requirements as part of the solution.

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Cloud CFO ribbon - Mapping

1. Select ‘Mapping’ from the user ribbon

2. The initial mapping and any

revisions can then be amended on the following screen

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Mapping

Once ‘Mapping’ has been selected an empty spreadsheet will

appear with the relevant column headings for completion.

The user will enter all of the trial balance codes in the first column.

Using the ‘Local Tag’ column the account will be allocated to a

line in the relevant report.

Where expenses are shown as negative this will be defined in this

screen.

An additional column for ‘XBRL Tag’ is also available for statutory

financial reporting.

An exception report is available to identify any unmapped

accounts.

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Step 4: Define the format of reports

Cloud CFO provides a simple mechanism to construct and customise reports.

Reports are created by the user for the user.

Formatting of the report allows the user to define headings, sub headings, groupings, totals, sub totals and business rules.

This is all entered into a simple spreadsheet which automatically creates

the report according to the specifications entered.

Running a report is simple and the result is generated in a matter of seconds.

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Cloud CFO ribbon – Define reports

1. Select ‘Reporting’ from the user ribbon

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Define the format of reports

An empty spreadsheet will appear with the relevant column headings for completion. This will enable the

user to custom build the report.

For the headings; ‘Order’, ‘Heading Name’ and ‘Heading Type’ the user can then create the layout of

the report. This is done by identifying headings and subheadings, grouping previously tagged items and

including subtotals and totals as required. Business rules are identified in an easy to understand format

without the need for complicated formulae.

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Step 5: Automate consolidation

adjustments

Automated consolidation adjustments include but are not limited to intercompany eliminations, goodwill adjustments and currency conversions. Where an adjustment can be derived by applying a formula to specific data that has previously been entered, we can build this into the solution and automate.

Example: Elimination of intercompany sales and purchases The adjustment value is equal to the value of the trial balance code in the selling company and the recurring adjustment is to increase sales in the seller and decrease purchases in the purchasing company. Other adjustments which require manual intervention and/or require regular updating will be processed as such during the ‘monthly process’.

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Thank you for your interest For more information or a demonstration please contact us

(details below)