Struggling with financial statement preparation? You’re not alone. Ensuring accuracy in financial reporting is a complex task, involving meticulous checks and balances. But what if there was a more efficient solution? Introducing Backbone’s Financial Statements Preparation Tool, an Excel accounting bot created by accountants for accountants, compliant with financial reporting standards and disclosure conventions.
Our accounting automation tool revolutionises how you handle financial statements. Simply download your trial balance, input it into our user-friendly Excel workbook, and watch as it does the work for you. This bot is not just about crunching numbers; it’s an intelligent assistant that streamlines your preparation process. It’s particularly useful for accounting firms or if you are handling a large number of reporting entities, allowing you to map a common chart of accounts for all clients, ensuring consistency and efficiency.
But there’s more. It intelligently connects all your data between notes (and the main statements), significantly reducing repetitive tasks and minimising errors. Consider the cash flow statement, often a challenging part of financial reporting. Our tool simplifies it by automating the preparation by linking the information you have already provided, reducing the need for manual intervention.
Finalising financial reports is just a click away. With our tool, all your data is seamlessly converted into a comprehensive set of financial statements in a Microsoft Word format, eliminating the hassle of manual data entry and inconsistency. No more manual casting.
We’ve paid attention to the little details too. Terms automatically adjust to context – like ‘net cash used’ for negative numbers. And the tool tailors the wording in the directors’ statement based on how many directors there are.
Our internal tests show an astounding 80% reduction in preparation time. That’s not just a time-saver; it’s a game-changer for cost efficiency and resource allocation in the accounting industry.
We understand that every firm has its unique requirements, which is why our accounting bot is fully customisable to your firm’s needs. Ready to revolutionise your financial statement preparation process?
Acknowledgement
Backbone has incorporated the ISCA Illustrative Financial Statements into the Financial Statements Preparation Accounting Bot (the Product) with permission from the Institute of Singapore Chartered Accountants (ISCA). ISCA does not endorse or recommend, is not an agent, reseller or distributor of, and has no control over the Product, and ISCA expressly disclaims all liabilities and responsibilities arising in relation to any Backbone’s products.