Financial Statements

Easily Build Powerful, Accurate, and Drill-Down Enabled Financial Statements

Financial Statements

With Orbit, you can quickly build financial statements within Microsoft Excel. When you create a new statement, Orbit will automatically populate live data from your company’s financial system. This improves the accuracy of your financial statements, as well as expedites your ad-hoc, month-end close.

Your monthly, quarterly, and year-end closes can be the most stressful part of your job.

If all of the numbers in your general ledger (GL) don’t reconcile, you can spend days sorting through mismatching journal entries to balance your debits and credits. But you likely don’t have that kind of time when you are under pressure to close books and comply with regulatory filing requirements.

According to industry research, just 28% of respondents said that they trust the numbers in their month-end close. Meanwhile, 90% are under pressure to close faster.

Additionally, most financial statement generators are not user-friendly. You often need to rely on other departments to accurately run your monthly numbers, build ad hoc reports, or create customized reports that allow you to drill down into your subledgers. Additionally, finance professionals spend loads of time hard coding formulas in Excel and need to repeat these actions during each close.

Orbit is tightly integrated with Microsoft Office, and comes with an Excel-based reporting solution for finance professionals. Orbit syncs with your ERP applications, so you can run up-to-the-minute numbers directly from Excel.

With Orbit’s Financial Statement Generator (FSG), you can:

Shorten Your Period-End Close Cycle

Orbit integrates with your ERP’s general ledger and subledger modules and makes all of this data available to you in Excel. Since Orbit connects with your key business applications, you can get an aggregated view of your required month-, quarter-, or year-end in Excel. This makes your close processes more efficient, accurate, and reliable.

Quickly and Easily Build Financial Statements

With Orbit, you don’t need to leave Excel – or get help from IT – to create financial statements. Orbit’s configurator allows you to access all of your GL segments, accounts, and functions. You can also choose the columns for your financial statement and build reports in just minutes.

To get started, simply use Orbit’s FSG configurator to design a “Get Balance” formula to build a cell-driven technology balance. You can then drag these balance formulas into other cells using the Excel “Fill Handle.” Any time you refresh, your financial statements will update with live data.

Orbit gives you control over how you view your accounts and balances. For example, you can use any of the standard Excel functionality to choose fields, apply filters, use formatting rules, or create charts to analyze your data.

You can also import financial statements from your ERP, save them, and share them with your co-workers.

Drill Down from Any Financial Statement – at Any Time

With Orbit, you can do ad-hoc reporting and analysis with ease to get quick answers to your questions. You can also dive deep into any GL or other financial analysis challenge.

All of Orbit’s financial statements are fully compliant and support automatic, interactive drill downs to reconcile your numbers.

Simply run or create a financial statement in Excel. Then, you can drill down into the subledger to view detailed data on individual transactions, invoices, purchase orders, receipts, etc. You can also create charts, apply filters, and use conditional formatting to view the journal activity for any balance.

Orbit Excel FSG comes with 100s of subledger drill-down reports for modules such as Accounts Payable, Accounts Receivable, Purchasing, Fixed Assets, Inventory, Payroll, and much more.

“The availability of pre-built reports for Oracle Financials and advanced data visualization options provided by Reporting Workbench enables Navitas to empower our worldwide users with meaningful real-time Oracle reports – without any additional infrastructure.”

Bryce Houghton  |  CFO
Navitas Limited, Perth, Australia