Financial Statements for Flexible Periods

Financial Statements for Flexible Periods

Alfredo Velasco – September 21, 2015

In LOVIS EOS you can set different periods, not only tax periods, which are called Flexible Periods of 12 months, and can start at any time. To measure results, you can automatically generate the corresponding Financial Statements.


financial-statements-for-flexible-periods

The timely production of Financial Statements through LOVIS EOS is very easy to achieve thanks to the records in the system, which are made simultaneously to the moment the events occur.

Because the system is an integral part of the enterprise operation and the events are recorded by the person who participated in them and at the same moment, we can ensure that what is registered in the system is correct, plus we avoid the terrible “re-work”. Moreover, validation, a result of the natural work, is needed to continue with the subsequent steps. These are some of the many reasons why LOVIS EOS emits reliable Financial Statements.

In other words, if the information is current and validated all the time, the only posible way our EOS (Enterprise Operating System) works, and accounting is generated automatically based on all those records of the operation, with only one click timely and reliable Financial Statements are obtained, on that exact moment!

We also know that many organisations need to measure the results not only from fiscal years, but from other periods, such as a change in management. Therefore, our customers can define these Flexible Periods of 12 months, which does not necessarily have to start the first day of a month, but can start at any time.

Having this ability to define Flexible Periods and the ease and reliability to generate Financial Statements, it is possible to obtain Financial Statements for such Flexible Periods.

This is certainly a very powerful tool we offer to our customers!