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Financial Reporting Software

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Adaptive Planning

4.5
(171)

Enterprise planning software for agile budgeting & reporting

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Workday Adaptive Planning, formerly Adaptive Insights, is a cloud-based enterprise planning software, which offers tools to help businesses collaboratively plan using tools for modeling, budgeting & forecasting. It offers features including balance sheets, expense tracking & workforce modeling.

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Budgyt

4.8
(19)

Affordable, Collaborative, Multi-P&L Business Budgeting

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Budgyt is a cloud-based budgeting software solution simplifying budgeting for SMBs, NonProfits and Enterprises across the world.

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Acumatica Cloud ERP

4.5
(31)

Connected business. Delivered.

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Acumatica Cloud ERP provides best-in-class integrated financial and business management, with full back-office functionality, designed to help you run your business more effectively. Acumatica is one system that integrates your company’s financial management, operations, CRM, and more.

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NetSuite

4.1
(735)

The World’s Leading, Most Deployed Cloud ERP Solution

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NetSuite combines a range of financial management tools such as expenses & payment management, auditable revenue management, fixed asset management, and more.

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Wrike

4.2
(1,7k)

Manage your projects from start to finish with Wrike

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Wrike is a work management platform trusted by more than 20,000 companies. Use features such as intuitive time tracking tools, automated reports, and custom analytics dashboards to help keep track of your finances. Share important data with stakeholders and improve profitability with Wrike.

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Prophix

4.6
(60)

Automate & streamline corporate performance management

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Prophix allows organizations to automate & integrate their budgeting, planning, forecasting, financial consolidation, & reporting activities on one platform

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Spreadsheet Server

4.4
(14)

Connect your ERP to Excel in real-time for Finance reporting

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Spreadsheet Server is a financial and operational reporting solution that connects with over 130 ERP / Accounting systems to feed live data into Microsoft Excel spreadsheets.

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QuickBooks Online Advanced

4.4
(610)

Accounting & business management for small businesses

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QuickBooks Online Advanced is a web-based accounting & business management solution which enables small businesses to track sales, inventory, financial accounts & payroll from a single dashboard

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Pilot

4.9
(10)

Bookkeeping software for startups and small businesses

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Pilot is a general ledger and enterprise accounting software designed to help startups and small businesses manage bookkeeping, taxes, and other financial processes. Administrators can file various income taxes including federal, state, and local and receive status updates regarding fillings in real-time.

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Soft4Lessee

5.0
(2)

Software for lease accounting and lease contracts management

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SOFT4Lessee is a lease accounting platform designed to help businesses manage their lease contracts and accounting whilst also transitioning and adhering to the accounting standards ASC 842/ IFRS 16/ AASB 16. It helps businesses to remain compliant and ensure requirements are met.

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Sage Intacct

4.2
(300)

Best-in-class Cloud ERP for Finance

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Sage Intacct gives you the best management reporting of any financial system, tracking operational and financial data to give you superior reporting power

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Jirav

4.8
(11)

All-In-One Forecasting/Budgeting, Reporting & Dashboarding

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Finally! Enterprise-grade budgeting and forecasting software for small & medium businesses, at a price and setup time that makes sense. Jirav offers the fastest time to value through native integrations with systems including NetSuite, Intacct, Quickbooks, and Xero.

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OnPlan

4.9
(12)

Sales forecasting and financial reporting software

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OnPlan is a financial planning application designed to help small to midsize businesses streamline sales forecasting and budgeting operations using financial models. The platform uses synchronization capability to implement Excel formulas and download prepared models into an Excel spreadsheet.

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Accounting Seed

3.8
(17)

Reinvent the way you do accounting

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Our users can easily get tailored, real-time data and complete visibility of their business results with Accounting Seed’s dynamic dashboards and financial reports features.
Visit: https://www.accountingseed.com/the-product/financial-dashboards

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CCH Tagetik

4.3
(80)

Cloud-based & on-premise CPM solution for financial planning

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CCH Tagetik is a unified Corporate Performance Management software platform for finance budgeting, planning, dashboard-based insight reporting & data visualization

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Global Shares

(0)

Stock compensation management for public & private companies

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Generate stock compensation accounting reports instantly with our extensive financial reporting suite. Analyze individual, up-to-the-minute data on stock plan participants or collect information on particular awards or grant types in real time.

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E2 Shop System

4.3
(665)

Shop management for shops & made-to-order manufacturers

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E2 Shop System provides total shop control. Manufacturing software to reduce costs, eliminate chaos, and ship products on time every time!

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Float Cash Flow

4.8
(64)

Real-time cash flow forecasting for Xero, FreeAgent and QBO

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Float is all about reporting your future cash flow. We show you your future bank balance based on your upcoming bills and invoices and the budgets you set.

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Zoho Books

4.4
(428)

Online accounting software for growing businesses

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Zoho Books generates a comprehensive list of financial reports such as profit & loss reports, cash flow statements, tax statements, balance sheet, and more.

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XLReporting

4.5
(8)

Improve your reporting and budgeting

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Admit: Reporting is too complex for spreadsheets. Using spreadsheets for your reporting takes you a lot of time. Not good use of your time. XLReporting gives you automation, overview, and reliability at every step. That gives you confidence in your numbers and in your decisions.

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YayPay

4.5
(24)

Smart AR for Smart Teams

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YayPay is a cloud-based accounts receivable management & automation solution which offers real-time analytics, automated workflows, CRM functionality, and more

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idu-Concept

4.4
(71)

Corporate performance management solution

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idu-Concept is a web-based corporate performance management solution for budgeting, forecasting, financial reporting & asset management

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ECOUNT

4.4
(35)

100% Cloud-based ERP for small & mid-sized businesses.

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Ecount ERP is a fully integrated, web-based accounting, inventory, sales, purchasing and production management software for small and mid-sized businesses. The enterprise resource planning (ERP) tool allows users to manage all aspects of their business, both front and back office, from one platform.

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A2X

4.9
(213)

Accurate ecommerce accounting, without the fuss.

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Have your Amazon & Shopify sales reconciled accurately in QuickBooks & Xero with A2X.

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Carta

4.4
(41)

Equity management solution for public & private firms

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Carta is an equity management solution that helps investors, public, & private firms manage cap tables, equity plans, investments, and valuations. The platform comes with features such as transfer agent services, portfolio insights, 409A valuations, safekeeping, & equity plan administration.

Read more about Carta

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Buyers Guide

Financial Reporting

Financial reporting involves generating financial statements, which communicate the financial position of a business to business owners and managers, employees, investors, tax authorities, and financial institutions. 

These statements are used for multiple purposes such as sharing a business’s financial standing with potential investors or banks planning to lend working capital to the business. The statements are used by business owners and managers to take important business decisions and for operations such as preparing budget models. Employees use these statements for creating collective bargaining agreements in case of trade unions or negotiating their compensation and ranking. Further, tax authorities, such as the IRS, use these reports to evaluate the company’s tax filings and compliance.

However, managing the process without a financial reporting tool can be laborious for you and risky for the business. It can be laborious as you have to carry out complex calculations in spreadsheets and often enter the same data in multiple sheets to generate reports such as income statements and balance sheets. It can be risky for the business as inaccurate financial reports increase the risk of non-compliance with accounting regulations.

Using financial reporting solution helps reduce manual labor, ensure compliance with important accounting regulations, and provide a clear view of the business’s financial position. In this buyers guide, we will understand the key components of financial reporting software. We will also help you select the right software for your business based on your business requirements. Here is what we’ll cover:

What is financial reporting software?

Financial reporting software provides a clear view of the business’s financial position by helping generate accurate reports such as cash flow statements and balance sheets.  

Accurate financial reports are important to ensure compliance with accounting regulations by avoiding inaccurate financial disclosures. Further, the tool helps make informed business decisions by predicting potential financial scenarios for users to, understanding their business impact.

What are the deployment options for financial reporting software?

To select the right financial reporting tool, it is essential to understand the deployment options available and how they impact your business. Here are the two main types of deployment options: 

Cloud-based deployment: Cloud-based software vendors host their solutions on third-party or their own servers. They also take care of the maintenance and support of these solutions. Software users can access these solutions on any device connected to the internet. These solutions are usually available for a subscription-based pricing model, paid annually or monthly.

On-premise deployment: Businesses host on-premise software on their own servers and self-manage data storage, updates, and maintenance. Users can access these solutions only through the devices installed on business premises. The pricing model of these solutions is license-based and depends on the number of users.

Key questions to ask vendors: Do users require additional training and support to operate the tool? Is the training free or does it come at an additional cost?

What are some common features of financial reporting software?

Understanding of the common features of financial reporting software will ensure you select a solution that caters to the core requirements of financial reporting.

Here are the common features of financial reporting software:

Profit and loss statement (P&L): Gain a complete view of your current revenue, profit, and spending through informative dashboards. The tool helps you plan your budget better by spotting trends in income and spending. You can also identify the cause of such trends, which may be a strategic marketing campaign, profitable season, or market situation.

profit and loss

Profit and loss statement in Xero (Source)

Balance sheet: Automatically prepare balance sheets using your P&L statements. You can also generate balance sheets by importing data from spreadsheets or tools like Tally and Busy. Further, you can compare your financial position across months, quarters, or years.

balance sheet

Balance sheet in Futrli (Source)

Cashflow: Identify the impact of cash inflow and outflow on your business. You can also view the impact of cash flow on your departments, lines of credit, and other operations. The tool also helps monitor cash flow using your income statements, tax calculations, and profit and loss statements.

cash flow

Cashflow dashboard in FreeAgent (Source)

Forecasting: Forecast financial scenarios and your future financial position. You can use current or past financial data to predict potential business events or identify market trends. The tool also helps compare the impact of potential events using “what-if” scenarios.

forecast

Scenario comparison in Float Cash Flow (Source)

Key question to ask a vendor before you buy: Does your tool offer all the above-mentioned features under the same pricing plan or are some of these included in a premium plan?

Back to financial reporting software directory

Note: The applications selected in this article are examples to show a feature in context, and are not intended as endorsements or recommendations, obtained from sources believed to be reliable at the time of publication.

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