Financial Reporting is responsible for suppressing the activities etc. of an financial position and operations of an accounting entity. Financial reporting regulations are becoming increasingly stringent, and corporations are under more pressure than ever before to guarantee the accuracy of the financial information they provide to the investment community and the public.
There are no. of financial reporting software that helps the organisation to improve their financial reporting, which in turn helps in improving decision-making. This results in reduction of time and man power for monthly reporting.
There are two types of Financial reporting software- one is web-based and other is stand-alone formats. Some can easily integrate financial data from multiple back-end systems.