Frequently asked questions (FAQ)

Finadeck is a modern software for consolidation, reporting, budgeting and forecasting - also internationally. On this page you will find answers to the most frequently asked questions about the use, features and capabilities of Finadeck.

What is Finadeck?

Finadeck is a modern SaaS software for consolidation, reporting, budgeting and forecasting that combines financial and business data analysis, budgeting and forecasting in one clear interface. The service is suitable for both individual companies and groups that need dynamic and visual reporting.

Can you do group accounting in Finadeck?

Yes. Finadeck offers powerful and automated group accounting tools. These include:

  • Automatic elimination of intra-group items based on accounts and accounting objects

  • Supporting documents to be entered into the elimination company for cost calculations, amortisation of goodwill, elimination of depreciation differences, elimination of exchange rate differences and calculation of the effect of minority interests and associates, among others. In Finadeck, vouchers for the calculation of the effect of minority interests and associates can also be generated automatically in the elimination company.

  • Consolidated income statement and balance sheet combinations for actual, budget and forecast data (FAS & IFRS)

  • Segmentation by business area or company

  • Real-time group reporting

  • Visual corporate dashboards and KPIs

You can easily create group reports for several different companies - be it one or dozens of subsidiaries.

Can I also combine financial information from foreign companies with Finadeck?

Yes. Finadeck is not country or language specific. You can also read in financial data from foreign companies in different currencies and accounting conventions. In practice, this means that you can build a comprehensive group reporting, even if your group includes companies from different countries and different economic systems.

How do group data integrations work?

Finadeck integrates with more than 30 different financial management systems - both domestic and international. You can import financial data of group companies from systems such as:

  • Netvisor

  • Procountor

  • Visma Fivaldi

  • Fortnox

  • Xero

  • QuickBooks

  • Google Sheets, Excel and CSV import

The integrations enable the automation of group reporting without the need for manual data transfer. You can find all the integrations pre-built for Finadeck here. We are constantly building new integrations. If there are no ready-made integrations for the software you are using, you can request an integration to be built info@finadeck.fi or by filling in the contact form.

How does Finadeck facilitate consolidation and group management?

With Finadeck, group management has a real-time view of the financial situation of the entire group. Reports are automatically updated and you can view the information:

  • At the parent company and subsidiary level

  • Converted or in original currencies

  • From the perspective of individual business units or country companies

  • By combining the accounting objects of the different companies by activity at group level

All information is in a visual and clearly shareable format for boards, investors and other stakeholders.

Is Finadeck safe to use in an international group?

Yes. Finadeck's data security meets high international standards. Your data is encrypted and stored on servers within the EU. We support multiple user roles, access control and SSO login.

How is Finadeck different from other consolidation tools?

Finadeck combines usability, automation and multi-company functionality. Compared to traditional group accounting software:

  • Quick deployment (no expensive projects)

  • Reports and eliminations are automatically updated

  • You can manage the finances of both individual companies and the whole group from one place

Does Finadeck have currency support?

Yes. Finadeck supports the handling of different currencies in group accounting. You can choose to display reports in the original currencies or converted into one currency (e.g. EUR, USD). You can use the Bank of Finland's exchange rates for automatic exchange rates or enter the exchange rates manually in Finadeck.

How will Finadeck's consolidation functionality be implemented?

The roll-out will take place in stages:

  1. You link group companies and their data sources to Finadeck

  2. Define the structure of group reports

  3. Capitalise elimination rules and segmentations

  4. After deployment, all data is automatically updated

We provide expert support during implementation and ready-made corporate report templates.

In which countries can Finadeck be used?

Finadeck is a global platform. Although we are a Finnish company, Finadeck can be used anywhere in the world. Our service runs in the cloud, supports multiple languages and currencies, and different accounting standards. We have customers in the Nordic countries, the Baltic countries, Central Europe, North America and Asia.

Can I try Finadeck before deciding to buy?

Yes. We offer a free trial period during which you can test both group accounting and all other features - with no commitment. Start your trial here.

Do I need a separate tool for group accounting?

You don't need. Finadeck combines the features of traditionally separate tools - such as Excel-based group accounting - into one easy-to-use cloud service. This saves time and minimises errors.

Couldn't find the answer?

Contact our experts at info@finadeck.fi or fill in the contact form.