Lux GAAP: Financial statements fully automated

Prepare consistent financial statements including all notes with CaseWare; your partner in efficiency and compliance

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THE CASEWARE LUX GAAP SOLUTION

The CaseWare Lux GAAP solution aims to disrupt the way financial statements are produced in Luxembourg. Financial statements prepared using Word or Excel require tedious and time consuming proofreading as well as manual conversion to the appropriate filing format.

CaseWare offers a different approach, allowing for predefined and prepopulated notes in which all figures are validated to the balance sheet. The produced financial statements are eCDF approved and guaranteed to be ready for filing including all note numbers.

WELL-TAILORED FINANCIAL STATEMENTS

The CaseWare Lux GAAP solution uses trial balance data and company information to generate well-tailored financial statements.

The finished product can be uploaded to the eCDF and R.C.S. filing portals. The structured financial statements contain the balance sheet, profit and loss account and standard chart of accounts. All eCDF validation checks are integrated in the software to make sure the XML export is finalized and ready to be filed at the eCDF filing portal.

The unstructured financial statements expand on this, creating a complete PDF financial statement export that is ready to be filed at the R.C.S. filing portal.

All of this is possible within the CaseWare application.

BENEFITS

  • Frequent updated content ensuring compliancy with the latest Luxembourg developments
  • Every part of the document contains dynamic links with trial balance data
  • Automated content and note building tools saving time in compilation
  • Integrated validation checks and reviewer tools saving time in review
  • Easy integration of mandatory reports
  • On the fly multilingual switch: English, French and German
  • Option to set up firm specific notes and disclosures

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CUSTOMIZATION

Flexibility is key in order to have well-tailored financial statements. The CaseWare Lux GAAP solution heavily focuses on customization, allowing the accountant to be the artist of the financial statements. The tailoring of company specific content is automated, ensuring that every generated note is relevant to the figures and every paragraph is applicable. Additional customization by the preparer of the financial statements is designed in three levels:

  • The predefined content in notes can be easily modified.
  • Easy to use tools are built in to create custom notes that can be flawlessly integrated and referenced in the financial statement.
  • Custom notes can be created and managed at firm level for larger firms that want to push their own set of notes throughout all financial statements.

CLIENTS

The software supports single entities as well as consolidated financial statements and securitization vehicles with up to 100 entities or compartments. These offer an added value to a wide scope of clients like:

Accountancy
firms

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Trusts

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Shared
service centers

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Corporate
accountants

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CaseWare Lux GAAP offers additional added value in conjunction with users of our CaseWare audit solution, assisting in exchanging data with the auditors.

Free demo

We offer a free demo for you to discover CaseWare Lux GAAP

and what it can mean for your company, no strings attached.

Request a free demo
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ALL-ROUND INTEGRATED SOLUTION

CaseWare Lux GAAP is an evolving solution. The ultimate goal is to provide an all-round integrated closing tool, in which the preparation of the financial statements is the first step. Becoming an early adopter of this solution allows you to help steer the software into the right direction. We are determined to gradually expand the scope of the solution based on the priorities of our clients. Development is moving at a fast rate and potential future additions may include:

  • Corporate tax calculation
  • VAT reconciliation
  • BCL Annual report
  • IFRS financial statement
  • Minutes of annual meetings