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Financial Reporting Software

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Domo

4.2
(195)

The Domo Business Cloud is where work gets done faster and s

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Domo is a data app platform that transforms businesses by putting data to work for everyone.

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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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Budgyt

4.8
(30)

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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Briq

4.6
(5)

Data analytics solution for construction businesses

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Briq is a corporate performance management platform built to make the lives of construction financial professionals easier and to make

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NetSuite

4.1
(815)

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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OnPlan

4.9
(14)

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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SAP S/4HANA

4.3
(260)

A complete, intelligent ERP system for enterprises.

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SAP S/4HANA Cloud is a cloud-based intelligent ERP system specifically developed for companies in all industries offering them a broad and flexible functionality.

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DataRails

4.8
(35)

The FP&A solution for Excel users.

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DataRails is an FP&A solution that automatically consolidates your data from all organizational systems without changing how you currently work. Keep working on Excel while benefiting from automated transformations including FX conversions, eliminations, financial adjustments and more.

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Sage Intacct

4.2
(320)

Best-in-class Cloud ERP for Finance

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Save over 40+ hours per month on financial reporting and achieve real-time visibility into business performance.

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Allvue

5.0
(1)

Investment management software for private equity firms

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Allvue’s Business Intelligence solution gives key decision makers access to advanced, easy-to-use data visualization tools and reports. Identify red flags across the firm with easy-to-set-up, easy-to-use reports and easily spot trends across your portfolio companies, deal pipeline and entire firm.

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Trovata

4.7
(10)

The Leading Next-Generation Global Cash Management Platform

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Trovata's bank APIs empowers your organization with global cash visibility across all your multi-bank accounts with a comprehensive suite of cash reporting and forecasting. Eliminate manually aggregating your cash and transaction data by automating your data management with Trovata.

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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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Adaptive Planning

4.5
(174)

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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Multiview is a highly-scalable modular ERP software for scaling organizations which require more automation, control and insight into their operations. A fully-integrated suite of financials ranges from core accounting, budgeting and forecasting to materials management and workflow approvals.

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Jedox

4.4
(113)

Seamless planning across your business

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Jedox is a business performance management suite with driver-based modeling, GPU-accelerated analytics, plus self-service budgeting for Excel, web and mobile

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FundCount

4.6
(7)

Integrated accounting and investment management solution

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FundCount is a Investment management software for family offices, hedge funds, private equity, fund administrators with integrated partnership and G/L

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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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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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A2X

4.9
(281)

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
(49)

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.

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ProfitWell

4.7
(21)

Real-time analytics for subscription businesses—100% free

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ProfitWell provides absolutely accurate subscription analytics for recurring revenue businesses. Get reporting on unit economics, churn, cash flow, and more. Integrates with billing systems like Stripe, Zuora, Chargebee, and Braintree.

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Kani

4.8
(10)

Financial reporting and reconciliation software for fintech

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Automatically generate Mastercard QMR and Visa GOC card scheme reports. integrate with your existing transaction reporting software to automatically generate bespoke reports.

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YayPay

4.5
(26)

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

4.3
(75)

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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PBS Accounting

4.5
(31)

Ge more done with Passport Business Solutions

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Passport Business Solutions (PBS) Accounting software is designed for growing small to mid-sized US companies ranging from 6 to 100 million in annual sales. Fully integrated professional level accounting software that fits a wide range of businesses. On-premise.

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Here's what we'll cover:

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.