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Dual Reporting Standard tool

Dual Reporting Standard tool

This can be used by companies who have a transition period, moving from one reporting standard to another (e.g. from GAAP to IFRS) or who want to maintain two reporting methods on a continuous basis (e.g. for a multinational where a company may report to local authorities in one standard but to the HO in a different one) – they can then see their Evolution Income Statement and Balance sheet in both ways, as well as a list of the transactions that involve the amounts that reflect differently in the 2 reporting methods.

 

Did you know that the Dual Reporting Standard tool can also replace the normal journal batch functionality, while allowing the user to specify a direct contra account for each transaction?