The range of functions of Consolidation & Financial Planning has been significantly expanded. As of now, you will find both new features as well as extensive functionalities from Lucanet.Financial Client on the Lucanet CFO Solution Platform:

Our new AI feature Lucanet Copilot is now available to assist with everyday questions and provide quick insights into consolidation and financial planning data:  

• You can ask questions about Lucanet in simple language to Lucanet Copilot from any area of the Lucanet CFO Solution Platform. Lucanet Copilot uses our knowledge databases to provide clear answers.  
• For quick insights into consolidation and financial planning reports, navigate to the desired ledger in Consolidation & Financial Planning and ask your question. You can enrich your prompts with references to dimensions or ask Copilot to create charts.
  Note: This functionality is only available with the Professional license for Consolidation & Financial Planning.

It is now possible to manually create postings in the Journals workspace. Postings can be created for both reporting entities and consolidation areas.

You can now also define individual historical exchange rate translations for each posting value. All currency translations configured for the respective reporting entity or consolidation area are taken into account.

From now on, dimensions can be created and edited in the Lucanet CFO Solution Platform. The following dimensions are available:

• Reporting entities
• Organization elements
• Currency translation
• Partner
• Data levels
• Adjustment levels
• Transaction types
• Fiscal years

Statistic ledgers can now be created and configured in the Workspace configuration. Statistical ledgers can be used to create account hierarchies that need not be subject to the rules of double-entry accounting (e.g. derived general ledger and subledger structures, indirect cash flow statement and direct liquidity planning).

Data from MS Excel can now be imported into Lucanet.Financial Warehouse using the new workspace Importing data into Lucanet.Financial Warehouse via the Lucanet CFO Solution Platform. This new feature saves time and effort, as previously data could only be imported into Lucanet.Financial Warehouse in Lucanet.Financial Client.

With the new release, the following planning functionalities are now also available in the Consolidation & Financial Planning solution of the Lucanet CFO Solution Platform:

• Accounting Rules: Using accounting rules, automatic contra entries can be defined for integrated balance sheet and cash flow planning. The following accounting rules are available:
  • Payments - for all accounts and items that relate to business transactions with cash flow impact
  • Investments - for the planning of new investments and their amortization
  • Accruals and deferrals - for the period-based recording of business transactions in Lucanet
  • Contra entry - used for recording postings within P&L or between the P&L and the balance sheet.
• VAT/input tax configurations: VAT/input tax configurations can be considered as part of the configuration of accounting rules for accounts and items in the general ledger and subledgers.
• Planning wizards: Using planning wizards, postings can be made automatically by applying advanced business logic and complex calculations. The following planning wizards are available:
  • Loan
  • Current account interest
  • Transfer actual balance to plan (known as Reconciliation of the general ledger in Lucanet.Financial Client)

In addition, the new Sheets function was introduced, replacing the previously used forms in Lucanet.Financial Client. While sheets retain the core functionalities of forms, they offer enhanced capabilities for financial planning calculations — including the ability to create formulas in natural language. In the Lucanet CFO Solution Platform, sheets can be created in the Import and Journals functional area.

The Lucanet Financial Consolidation 1 enables wizard-assisted elimination of intercompany debt as well as elimination of intercompany income and expense.

Lucanet Financial Consolidation 2

Lucanet Financial Consolidation 2 enables seamless and efficient financial consolidation.

With Financial Consolidation 2, the entire consolidation process can be automated and supported through apps. Users benefit from maximum transparency, accuracy, and user-friendliness.

The following functions are available:

• Mapping group structures over time
• Master data administration
• Proportional transfer of consolidation data to consolidation areas according to the investment relationships within the group
• Automating financial consolidation including:
  • Elimination of intercompany income and expense (including report on consolidation differences)
  • Elimination of intercompany debt (including report on consolidation differences)
  • Equity elimination
    Note: Currently, the app for equity elimination in the Lucanet CFO Solution Platform supports the Full consolidation and Proportionate consolidation consolidation methods with limited functionality. The scope of functions will be expanded step by step. The equity method will only be available in a later version of the app.
    Detailed information about the currently supported and planned future range of functions for equity elimination in the CFO Solution Platform can be found under Equity elimination.

Our CFP Add-In for Excel 365 offers similar functionalities to Lucanet.Excel Add-In but can be used in combination with our Lucanet CFO Solution Platform. Furthermore, the add-in can not only be used in the MS Excel 365 application, but also in MS Excel 365 for the Web. The CFP Add-In for Excel 365 enables you to:

• Access consolidation and financial planning data from MS Excel
• Transfer data from MS Excel to Lucanet.Financial OLAP Server, so that this data can be displayed in Consolidation & Financial Planning