This specific area of CenterSoft is designed to provide owners of more than one entity with financial information as it relates to all of the properties which this individual or company owns. Some of the significant characteristics of this feature are the ease of setup, the ease of use and the flexibility in reporting output The setup involves defining which entities are subsidiaries and which entities are parents. Once this is established, the next step is to assign subsidiary general ledger accounts to parent general ledger accounts. That’s all there is to the setup. Ease of use can come in several flavors but, with CenterSoft, it can’t be any easier. One checkbox determines if a report will or will not be consolidated. Even better is the fact that one entity can be defined as a parent of one or more subsidiaries and still be a normal entity. There is no requirement to setup a “Dummy” entity to accommodate the reporting process.

The printed reports come in two varieties… Standard and Custom. Standard Reports consist of many different general titles such as trail balance, balance sheet, income statement, owner’s statement of net worth, statement of revenues, statement of expenditures, revenue reports, expense report and retained earnings statement. Each of these reports contains up to 10 different styles. Some are based on current period, some on current period and year to date, some are year to date only, some are budget based and some are 12-month spreads. Custom Designed Reports utilize the very powerful custom formatting process within CenterSoft, the same process that is used for your normal custom financial statements. You don’t need to learn anything new or complicated. The titles and styles of report are the same as the standard report as described above.