LucaNet 12 LTS is born: Its new features are sure to optimize your financial affairs
Every year in November, there's a lot going on at LucaNet. Not only is it the month in which we host our big customer event, LucaNet.World; this year, it will also witness the unveiling of our next long-term support release – the latest major version of LucaNet that contains all the cumulative features from the LucaNet 12 release train.
Today, we'd like to introduce you to three highlights of LucaNet 12 LTS.
- Consolidation functions with added value
- Improved workflow management in the LucaNet solution for data collection and IC reconciliation
- App for elimination of income from investments
Consolidation functions with added value
LucaNet 12 LTS, the latest generation of our software, offers an increased functional scope in the area of consolidation.
New app for the elimination of income from investments
With the new app for the elimination of income from investments, it’s now easy to eliminate income and expenses from profit or loss transferred and company distributions.
App for creating reports on the results of deconsolidation
This new app is designed to bring transparency to the calculation of deconsolidation results and make it easier to explain them to external recipients.
The app generates two different reports:
- The report on deconsolidation represents how the deconsolidation results are derived. This makes it easier to retrace the values posted as part of deconsolidation.
- The generated status report on cancellation postings for deconsolidation is meant to show whether all values have been cleared correctly from the accounts of the deconsolidated company.
In LucaNet 12 LTS, customers can also look forward to various other enhancements to our existing apps in the area of consolidation, such as the inclusion of US GAAP in the app for equity elimination. You’ll thus be even better equipped to handle all the technical requirements related to consolidation.
Improved workflow management in the LucaNet solution for data collection and IC reconciliation
Significant optimizations have been added to LucaNet 12 LTS in the area of data collection and IC reconciliation, as well.
Along with the predefined milestones IC data collection completed and IC reconciliation completed, we recently implemented user-defined milestones that make it possible to divide up the Collect task in much more granular and individualized ways.
These milestones are maintained in the data file and can be linked to any number of rules. Among other options, this makes it possible to establish a milestone automatically as soon as a user has:
- filled out a certain workspace,
- completed all the tasks associated with it, and
- observed the specified rules.
On the whole, this facilitates much more precise planning, control, and tracking of decentralized employees’ activities in editing the data file.
New app for adjusting and reclassifying values
The more customers use the LucaNet software, the more they notice many recurring tasks both large and small – some of which require time-consuming manual effort. Luckily, we already offer solutions for a number of these processes. Apps are available that automate the reclassification of net retained profits, for example, or the fixation of exchange rates for foreign currency companies. In creating the app for adjusting and reclassifying values, we've taken another approach.
We wanted to offer an app that:
- would not be tailored to an explicit use case (unlike other solutions out there)
- would automate as many recurring tasks as possible and one-time tasks, as well
Here are some examples of steps you can carry out with the app for adjusting and reclassifying values:
- If you only need postings to specific cost centers from a given account, you can filter for these values and make a variety of adjustments.
- If you want to enrich the values of an account with details, you can retrieve the corresponding values and add further information.
- If you want to move values from one account to another, it's easy to configure this procedure, as well. This will enable you to clean up accounts, entire items, or even entire workspaces without any issues.
Are you thinking of becoming a LucaNet customer? Start by getting an overview of our software for financial performance management. We’ll then be happy to introduce you to our cross-industry solutions in a personalized presentation. There's no further obligation at all, of course!
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