Data and consolidation

Symfio connects directly to more than 20 accounting and ERP systems: Pohoda, Money S3, Money S4 and S5, ABRA Flexi, ABRA Gen, Helios, KROS Omega, Premier System, Ekonom, Magion, 6K Software, QuickBooks, Microsoft Dynamics 365 Business Central, Dynamics NAV and Odoo.

It connects through the system’s API or its SQL database and only reads the data. It never writes into your accounting. There is nothing to install, and the technical connection usually takes anywhere from tens of minutes to a few hours. A Pohoda SQL setup typically connects in under an hour.

Groups rarely run on one system, and with Symfio they don’t have to. A Czech parent on Pohoda, a manufacturing subsidiary on Helios, a Slovak company on KROS Omega and a foreign subsidiary on QuickBooks can all report into one Symfio group, each read by its own connector.

Instead of moving every company onto the same ERP, Symfio puts one financial methodology on top of the systems you already have.

Data refreshes automatically every night, so reports are current when the working day starts. Once your accountant posts documents, the changes appear with the next sync.

Depending on your subscription, you can also start a sync with one click or schedule up to five refreshes a day.

Each company keeps its own chart of accounts. In Symfio you map its accounts, or account and cost centre combinations where needed, to one shared set of categories for the income statement, balance sheet and cash flow statement. The rule is deliberately simple, one account to one category, so anyone who joins the finance process can follow the logic.

For bulk changes, export the mapping to Excel, edit it and import it back. Symfio checks the file and tells you about missing, duplicate or invalid rows before it applies anything. You also decide, company by company, whether new accounts go straight to default categories or wait in an unassigned list for your controller. Mapping changes show up in your reports straight away.

Symfio consolidates groups of any size using the full consolidation method, from actual results and from the forecast alike. Each company is given a parent entity, so the group becomes a real ownership tree with as many levels as you need: parent, sub-holdings, operating companies and their subsidiaries.

Look at any single company, any sub-holding or the whole group, and switch between the plain sum of the companies, the consolidated result and the intercompany transactions on their own. Consolidation runs in the same model as reporting and planning, so consolidated actuals and the plan live in one place instead of two systems reconciled once a month.

Every company in Symfio has its own currency. A Slovak subsidiary reports and plans in euros, a US one in dollars and the Czech parent in koruna, and each company’s plan and actuals always sit in the same currency.

Statements can be shown in a different display currency, for example CZK or EUR, and are recalculated for you.

In the chart of accounts you mark which accounts carry intercompany transactions, which group company is the counterparty, and the level at which each one is eliminated: the whole group, a sub-holding, or up to four sub-group levels for deeper structures. Symfio then eliminates them in the income statement, balance sheet and cash flow statement.

The intercompany view shows only the transactions between group companies. When the intercompany accounting is complete and reconciled, it nets to zero at group level, which makes it a quick check on your books.

Add your own entries directly to the Symfio journal without posting them in your ERP first. Use them for consolidation reclassifications and adjustments, or to reflect a cost or adjustment you already know about in management reporting before it reaches the books.

If your system isn’t on the list, we can connect any accounting software that has an API or keeps its data on an SQL server, and map its data to your structure. The same goes for other sources your reporting needs, such as a CRM, timesheets, project tools or your own server. A new connector is a one-off charge. Tell us what you use.

If the software can export to Excel, you can go live on day one by uploading its data with column mapping while the direct connection is being built.

Companies in different countries keep their own currency and their local accounting rules, and still map into one consolidated view. For Czech and Slovak companies, Symfio fills in the name, tax ID and address from public registers when you enter the company ID; companies elsewhere are added by hand.

The setup works especially well for Czech-Slovak groups where each company runs a different accounting system.

Consolidation in Symfio covers the consolidation difference, the split of equity between controlling and minority interests, and the elimination of shares issued by controlled companies. Setting up the ownership stakes for your group is priced by scope.

When companies in the group report under different rules, Symfio maps each of them into one consolidated view, and consolidation reclassifications can follow your group methodology. The manual entries module is part of every subscription; configuring specific standards, such as IFRS, is priced by scope.