Automated Financial Statements Tool

Introduction

Every year companies in Slovakia of all sizes need to prepare statutory financial statements under Slovak law. This is a comprehensive activity that consumes a lot of time if done manually and there may be problems such as manual errors and difficulties with tracing manual calculations, and with review. Our tool helps clients increase the quality of reporting, save time on the preparation and review of the statutory financial statements and prevents manual errors.

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How we can help

Our tool is an Excel-based, easy-to-use tool that automates the preparation of the financial statements. It automatically maps general ledger balances to financial statement lines in the primary statements of balance sheet and profit and loss and to notes to the financial statements, and can undertake conversion to word, .pdf and .xml. The tool has a standardized layout that increases transparency during review and easy-to-use controls and updates. It includes many checks between the financial statements, notes and general ledger balances. It automatically evaluates the entity size and shows notes relevant for the reporting entity.

The greatest benefit of the tool is the ease of installation and no license is needed – it is enough to have MS Excel and Word installed. No third-party installations or add-ins are required – as it is a macro-based Excel tool. The tool is continuously updated to take into account the latest changes to Slovak legislation and our staff are ready to help you with any questions you may have.

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Benefits of the solution

Fast and transparent (reports prepared automatically with just a few clicks)

Easy to use

Upload of general ledger and automated preparation of the financial statements

Export to MS Word including text and all tables in 3 languages – Slovak, English or German

Export of financial statements to PDF or XML format

Balance roll-forward from previous year tool file

Checks between general ledger, financial statements and notes

Financial metrics calculations

Contact us

Lukáš Ciran

Lukáš Ciran

Director, Assurance, Capital Markets and Accounting Advisory Services, PwC Slovakia

Tel: +421 904 941 464

Ruslan Manafov

Manager, PwC Slovakia

Tel: +421 910 520 953

Patrik Kudolani

Patrik Kudolani

Senior Associate, PwC Slovakia

Tel: +421 914 213 992

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